Flagstar Bancorp Reviews

Updated March 27, 2015
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2.5
157 Reviews
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Flagstar Bancorp President & CEO Alessandro P. DiNello
Alessandro P. DiNello
54 Ratings

Pros
  • Some good people who mean well, but quality leadership is sorely lacking (in 7 reviews)

  • Competitive pay, normal hours, good benefits, good PTO, opportunity to move up (in 5 reviews)

Cons
  • And often changes in upper management in the last 3 or 4 years (in 7 reviews)

  • Flagstar has little room for advancement (in 4 reviews)

More Pros and Cons

Employee Reviews

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  1. I was very unhappy after being there for a month alone at my cubicle!!!!!!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Bilingual Mortgage Servicing Representative in Troy, MI
    Former Employee - Bilingual Mortgage Servicing Representative in Troy, MI

    I worked at Flagstar Bancorp

    Pros

    Many of the co-workers are friendly and you become close since you work with the same people everyday.

    Cons

    They have no empathy with situations you may have. If you fail to hit one small key point you are given a verbal warning as opposed to aajust advising you and helping you better that issue if it were to arise again in a different call.

    Advice to ManagementAdvice

    You aren't better than anyone and place yourself in some of the workers shoes and bring yourself down from that high horse you're sitting on so that you can relate to your workers!!!!!!!!

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  2. Was treated terribly by management

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

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

    Pros

    Only pros I can say that I was treated much better by coworkers who treated me like a good friend or family member.

    Cons

    If you have a disability look elsewhere, you will get treated with no respect and will feel like an outsider by the management. They refused to honor a special chair for me when I had the actual doctor's note. They wanted to save money so they gave me an old chair but complained that it didn't match with the companies chair throughout the building. Also they don't have any supplies meaning you have to bring your own personal supplies on your own money. They are cheap and don't give out good raises. Also if you are working here save all evidence in case you get let go. They omitted half of my employee file when I obtained a lawyer to go after them due to discrimination and wrongful let go. They lied saying my work was bad, nit true my evaluation said otherwise. I noticed they let go all disabled and people who took medical leave first. You don't have an outside family life at all.

    Advice to ManagementAdvice

    Fire the management that are rude, show no respect. Training I got was horrible, they boasted this particular woman was the best in the group but I also heard she got let go about 3 months after me. She couldn't complete anything right, kept calling other coworkers to ask them questions because she couldn't trained you properly.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3. The company has a high turnover rate

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Spoc in Troy, MI
    Former Employee - Spoc in Troy, MI

    I worked at Flagstar Bancorp

    Pros

    It is good to work their if you want to get quick knowledge. It is a fun work envirment

    Cons

    Don expect long-term goals with this company unless you like to work without career advancement.

    Advice to ManagementAdvice

    Catering to your employees determines the success of your company.

    Doesn't Recommend
    Negative Outlook
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  5. Rotating Leadership, no results

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Management in Troy, MI
    Former Employee - Management in Troy, MI

    I worked at Flagstar Bancorp

    Pros

    Only area bank headquartered in Michigan.

    Cons

    Where does one start. The C-Level, Sr. Leadership and Management turn style is getting warn out. Many many "top guns" hired to come in and do a job and they don't execute. And no one following up on results. New people get paid top salaries and never really provide value. This leaves all of the overworked dedicated managers to pick up the pieces once again and perform under extreme deadlines for others lack of performance.

    Advice to ManagementAdvice

    Read resumes better, interview better, ask for proof of results.....pay middle management and sr. team members the right amount of money before they have to leave.

    Doesn't Recommend
    Disapproves of CEO
  6. Rocky Ride

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Flagstar Bancorp

    Pros

    The company has benefits including healthcare, vision, dental, and life insurance.

    The company observes 11 holidays with pay, and now offers one paid community involvement day to participate in volunteer activities the company supports.

    The work environment is such that folks do work hard to solve problems and accomplish objectives at the individual level, department level, and organizational level.

    Cons

    The leadership turnover is crazy, which produces a whiplash affect on the employment base due to new directions, new processes, and new ideas of how they want things done.

    The out of pocket costs for premiums, co-pays, and co-insurnace are higher here compared to other employers I've worked for at the same level of coverage. This could be due to higher costs of healthcare overall, and/or due to the financial stability of the company.

    The payscales are published which show huge six-figure salaries, but good luck in ever really getting ahead via promotion or via substantive merit increases.

    The full time employee headcount is fixed which means new positions which could pay more cannot be created to allow promotions within, and the promotion opportunities that do exist are most often filled from the outside.

    The company lacks a 360 performance review of management to allow feedback on how they are performing, so your boss can get away with behavior that her/his boss doesn't even know about.

    Despite huge layoffs leaving only the best employees, the company has decided to make those who remain feel even worse about their individual performance by limiting the % of people who can get "outstanding" and "above average" performance ratings, and wants most everyone to be in the "meets" performance goals rating to pay little to nothing for our contributions.

    Advice to ManagementAdvice

    Communicate more often about the direction of the company, our progress and challenges to overcome.

    Improve compensation for non-commissioned staff. People work for money - just like you. The more you pay, the more we want to work hard to get ahead too.

    Increase the paid time off. The amount of PTO is low.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7. Business Client Service

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Business Client Service in Troy, MI
    Former Employee - Business Client Service in Troy, MI

    I worked at Flagstar Bancorp

    Pros

    Paycheck every two week
    37.5 work week (pro and con)

    Cons

    Hours changed weekly
    No incentive programs
    No OT
    Progression to other departments nonexistent

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8. 1 person found this helpful

    Abusive Environment

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Flagstar Bancorp

    Pros

    I loved what I was doing and my customers but I had to quit because it was way too stressful working for a manager who was abusive towards employees in Orion. Many quit before and after I did and she is still there? This is the problem at Flagstar.

    Cons

    Terrible hours at branches. Dangerous environment. Locking a person in a branch by them selves after everyone had left for the day so they can run the drive thru a little longer and exit building by themselves!

    Advice to ManagementAdvice

    Don't leave people in positions because they are hitting their goals where employees are constantly leaving a location because of them. This is brining the company down. Don't value goals over good employees.

    Doesn't Recommend
    Approves of CEO
  9. 2 people found this helpful

    Stressful place to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Data Security in Troy, MI
    Former Employee - Data Security in Troy, MI

    I worked at Flagstar Bancorp

    Pros

    Could work from home to avoid the physical contact from the boss throwing things at you. Work not that difficult.

    Cons

    Management is poor. Abusive. Management didnt allow having time off after a child or a loss of a child. HR doesn't want to deal with the issues. I've had a manager throw things, call people names, and then cry in meeting. Even if for short term, I would not recommend this place.

    Advice to ManagementAdvice

    Listen to your employees. A survey doesn't do a thing if changes are not made....didn't have to be painful or fearful to be at work and with nobody to help with the abuse. All you did was give her was another permotion; making her belive what she did was okay. She should have been walked out. I'm sure the people that really want to make the positive changes are not working with the right people to know what's really wrong. People are afraid to say something.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  10. Great commisions

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Financial Service Representative in Troy, MI
    Current Employee - Senior Financial Service Representative in Troy, MI

    I have been working at Flagstar Bancorp full-time

    Pros

    the leadership is hands on and constanlty expressing concerns as well as expectations

    Cons

    the leadership is counter productively involved.

    Advice to ManagementAdvice

    appreciate your employees

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11. 1 person found this helpful

    Worst place to work for

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Project Manager in Troy, MI
    Former Employee - Project Manager in Troy, MI

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

    Pros

    The commute wasn't bad at all

    Cons

    Everything; but especially senior management!

    Advice to ManagementAdvice

    Listen to your employees.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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