Flagstar Bancorp
2.5 of 5 105 reviews
www.flagstar.com Troy, MI 1000 to 5000 Employees

Flagstar Bancorp Reviews

Updated Apr 1, 2014

Be The First To
Add Photos

All Employees Current Employees Only

2.5 105 reviews

                             

57% Approve of the CEO

Flagstar Bancorp President & CEO Alessandro P. DiNello

Alessandro P. DiNello

(21 ratings)

33% of employees recommend this company to a friend
105 Employee Reviews
in

Review Highlights

Pros:
  • "Competitive pay, normal hours, good benefits, good PTO, opportunity to move up"
    in 5 reviews
  • "Good benefits work life balance"
    in 3 reviews
Cons:
  • "Flagstar has little room for advancement"
    in 4 reviews
  • "Customer service agents present less than professional front to customers"
    in 4 reviews
  • Show more review highlights

Reviews

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Approves of CEO

 

Generally a positive experience, with usual highs and lows.

Senior Accountant (Former Employee)
Troy, MI

I worked at Flagstar Bancorp full-time for more than 8 years

ProsPleasant working conditions and facilities. Friendly culture. Variety of types of work assigned. The on-site cafeteria has good food and pleasant staff.

ConsFrequent cuts in staffing. Consistent lack of communication to employees. Constant turnover at the highest levels over the past 3 years. 20% staffing reduction by department, across the company. Career advancement difficult. Company spent thousands abd thousands of dollars to expand into leased space, then walked away from the space in less that 2 years, and eliminated more than 800 positions.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Disapproves of CEO

 

Good learning opportuity in a frustrating work atmosphere

Loss Mitigation Speciaist (Former Employee)
Troy, MI

I worked at Flagstar Bancorp full-time for more than 3 years

ProsThere were many great people working here. Training staff was very good in the end. Time off was very flexible.

ConsLack of advancement opportunity, Processes changed constantly, Software package purchased for doing our job in loss mitigation destroyed our customer service. Poorly managed.

Advice to Senior ManagementA company that advertises itself as Michigan owned, Michigan focused shouldn't be outsourcing jobs out of state. There have been numerous layoffs in the mortgage and loss mitigation departments of well over 400 employees.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • No Opinion of CEO

 

Wasted Time

Financial Service Representative (Current Employee)
Farmington Hills, MI

I have been working at Flagstar Bancorp full-time for more than 5 years

ProsIt's a job that pays something

ConsSalary, Benefits, no time off, work hours

Advice to Senior ManagementPromote the people that actually work hard and not just the kiss-ups.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Disapproves of CEO

1 person found this helpful  

3 CEOs in 7 months.... There really is not more that I can say than that....

Manager (Former Employee)
Troy, MI

I worked at Flagstar Bancorp full-time for more than 3 years

ProsAbove Average Pay, and flex time

ConsPoor Management, management is blind to what goes on and how much waste goes on
Complete Silo Mentality, there are so many things broken in the company that trying to fix the overall problems would be solved by just selling the parts of the bank off. Oh wait that's what they are doing...

Advice to Senior ManagementBreakdown the Silo's, listen to the employees on the floor you have an amazingly large number of extremely intelligent people on the floor, that are ignored and not heard.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • No Opinion of CEO

 

the company of spurious claims

Anonymous Employee (Current Employee)
Troy, MI

I have been working at Flagstar Bancorp full-time for more than a year

ProsFriendly environment
401K and heath benefits offered

ConsThey preach ethics, but will write employees up based on accusations without definitive proof
It is nearly impossible to get in contact with the HR department
They do not match competitor salaries well. They pay as much as $8/hr less for wage earners
They advise their representatives to "sugar coat the truth"
They lie to their employees on a constant basis

No, I would not recommend this company to a friend

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • No Opinion of CEO

 

Branch employee

Anonymous Employee (Former Employee)

I worked at Flagstar Bancorp full-time for more than 3 years

ProsSmall bank environment work not overwhelming

ConsRoles not defined, low pay and poor benefits

Advice to Senior ManagementCommunication

No, I would not recommend this company to a friend

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • No Opinion of CEO

 

Good people but no room to grow

Anonymous Employee (Current Employee)

I have been working at Flagstar Bancorp full-time for more than 10 years

ProsGood people, flexible hours, nice building

ConsNo where to grow unless you are in with upper management.

No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Culture & Values
         
  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • No Opinion of CEO

1 person found this helpful  

If you aren't kissing the bosses...

Technical Support (Former Employee)
Troy, MI

I worked at Flagstar Bancorp full-time for more than a year

ProsOk benefits and time off

ConsHour Lunch turns the day into almost 8.5 hours / 7.5 hour days (37.5 hour work week).
Too many micromanagers (has to be a vice president for every 5 workers).
If you aren't friends with someone you don't move up in the company.
There is a reason they got out of two other markets..
Stick to one dress code.. Casual most of the week, once a week shirt and tie, etc. No one cares what they are wearing as long as it looks professional.

Advice to Senior ManagementRecognizing people for their accomplishments is nice but when you don't offer them any promotions or compensation what's the point in staying?

No, I would not recommend this company to a friend

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Disapproves of CEO

 

Dissatisfied.

Anonymous Employee (Current Employee)

I have been working at Flagstar Bancorp

ProsLunch is about one hour.

ConsPositions are rigged. Education, experience, don't always move you up the ladder.

Was this review helpful?
Yes | No
Add Employer Response Flag Review

  • Work/Life Balance
         
  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Disapproves of CEO

 

Poor Compensation Plan

Senior Loan Officer (Former Employee)

I worked at Flagstar Bancorp

ProsMake your own hours (sort of)
Great benefits

ConsPoor compensation plan
Inept management and the company is overwrought with cronyism
Publicly traded company that is essentially worthless

Advice to Senior ManagementRaise the comp plan for retail LO's or more and more will be leaving and heading to local mortgage banks (not FDIC banks).

No, I would not recommend this company to a friend

Was this review helpful?
Yes | No
Add Employer Response Flag Review
RSS Feed Embed

Worked for Flagstar Bancorp? Contribute to the Community!

Your response will be removed from the review – this cannot be undone.

Glassdoor is your free inside look at Flagstar Bancorp reviews and ratings — including employee satisfaction and approval rating for Flagstar Bancorp CEO Alessandro P. DiNello. All 105 reviews posted anonymously by Flagstar Bancorp employees.