Flagstar Bancorp

  www.flagstar.com
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Flagstar Bancorp Reviews

Updated August 10, 2014
Updated August 10, 2014
127 Reviews

2.4
127 Reviews
Rating Trends

Recommend to a friend
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Flagstar Bancorp President & CEO Alessandro P. DiNello
Alessandro P. DiNello
37 Ratings

Review Highlights

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

  • Some good people who mean well, but quality leadership is sorely lacking (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 Highlights

Employee Reviews

Sort: Popular Rating Date
  1. 1 person found this helpful  

    Very unprofessional place to work

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

    Pros

    Great location - near restaurants and the transit center.

    Cons

    Management has no respect for employees.

    Advice to ManagementAdvice

    Look at who you have in management and evaluate their worth to the organization.

    The layoffs of knowledgeable employees, most of whom were with the company for many years, has not been encouraging, and has brought morale way down. It's been pretty obvious that the long-term employees have been targeted by management. No one at the company feels that they can focus on their jobs. Every day employees wonder what changes are coming today and who will lose their job next. Very unsettling and creates a work environment of fear.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2.  

    Busting my ass for a company that never recognizes it

    Mortgage loan closer

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    PTO time and the cafeteria staff is only pros for this place

    Cons

    Never want to hire within or allow employees to move up within. Poor pay, managers who micro manage your every move. Managers who won't take advise from employees on their every day work.

    Advice to ManagementAdvice

    Promote from within!!! Learn how to pay your employees what they deserve or you will lose GOOD employees. Get rid of the lazy staff who work only for a pay...not to make a difference

  3.  

    Not a pleasant place to work, management is completely disorganized

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Top Dog In Charge of Everything
    Former Employee - Top Dog In Charge of Everything

    Pros

    The best reasons to work at Flagstar include: paid holidays, PTO, and since they are settling all their lawsuits maybe they will be bought out.

    Cons

    A few of the downsides of working for Flagstar include: the offices being short staffed most of the time, constantly changing the high priority work, and declining most of the loan applications that take many weeks to process.

    Advice to ManagementAdvice

    Get your act together.... you are losing good people!

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
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  5.  

    Work there at you own risk.

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

    Pros

    The company try to get input from the employees of how to improve the company.

    Cons

    The company doesn't have a great reputation as a bank. As a bank I wouldn't say they are strong.

    Advice to ManagementAdvice

    I have none.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  6.  

    Employees as commodity

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

    Pros

    Let's see...commute was reasonable. Co-workers were nice folks, considering indentured servitude nature of the place. That's about it.

    Cons

    Top 5
    1. Radically excessive production goals.
    2. Low pay to start with, absurdly low considering # hours necessary to meet goals.
    3. Unclear delineation of responsibility (assistant level staff should have done more).
    4. Incomprehensible management configuration.
    5. Sloggy computers.

    Advice to ManagementAdvice

    Consider relying more on contract employees. Invest in training assistant level staff. Clarify management structure & underwriting standards to eliminate brokers shotgunning for the answer they want. Have IT install more RAM in office computers, or whatever is needed to make the computers more responsive.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  7.  

    Poorly Managed Company

    Former Employee - Anonymous Employee  in  Troy, MI
    Former Employee - Anonymous Employee in Troy, MI

    Pros

    It bought me some time for my next career move.

    Cons

    Too many to list here. It's a good idea for interested persons to find out for themselves.

  8.  

    Worst place to work

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

    Pros

    There is no Pros I can say about this place

    Cons

    Management are downers, they like to punish employees, they are never encouraging. You are expected to meet or exceed quota of loans per day, If you don't meet they count it against you. Always sending out reports called QC on a weekly basis to show each employee mistakes, according to the loan officer these are learning tools not to punish you. Ha not true you are allowed only 2% error ratio per year on mistakes you make on a loan. Training is bad, instructor had no inkling clue how to train you, kept calling or asking other employees for answers. Felt miserable in this place daily, not a happy place to work. I plan on telling others please do not bank or work at this place.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  9.  

    Discouraging reality of managers who have no clue.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Customer Service Representative  in  Bellevue, WA
    Former Employee - Customer Service Representative in Bellevue, WA

    Pros

    Great co-workers, nice facilities and working conditions.

    Cons

    Management has no idea what their employees need to sufficiently assist the customer. They have great ideas, but don't know how to implement them. Most managers seem to dislike their job or really have no clue what their job actually is. We had a crew of 25 people and had 5 managers under that specific group. It's decent employment for people who need a job, not a career and no room for upward mobility. This is specifically directed at the Bellevue, WA branch.

    Advice to ManagementAdvice

    Come up with viable solutions that can be implemented immediately. Keep your employees informed of changes and what's really going on within the department and the company. Even if you don't like or understand your position, as a manger or lead, act like you do or step aside. Couldn't give you an approval rating on the CEO, since they change every quarter.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  10.  

    Never move up

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

    Pros

    Good amount of time off and decenet benefits.

    Cons

    There is no way to move up in this company. If you leave the company, gain the necessary experience and come back they will hire you into a higher level position but will not train within the company. Most people seem unhappy.

    Advice to ManagementAdvice

    Get rid of the middle management. There focus maybe on a small team and only this small team. This leads to alot of open time on their plates. This then turns into alot of micro managing of employees due to middle managers thinking they are doing their jobs. In reality, they are doing nothing but hurting the environment of the workplace.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11.  

    Very flexible with time off

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

    Pros

    Good benefits work life balance

    Cons

    Poor pay , no path to promotions, boring place to work

    Advice to ManagementAdvice

    Need to change pay structure and make it a fun place to work

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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