Flagstar Bancorp

  www.flagstar.com
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Flagstar Bancorp Reviews

Updated Jul 23, 2014

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All Employees Current Employees Only

2.4 120 reviews

58% Approve of the CEO

Flagstar Bancorp President & CEO Alessandro P. DiNello

Alessandro P. DiNello

(33 ratings)

32% of employees recommend this company to a friend

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
120 Employee Reviews
in

     

    Busting my ass for a company that never recognizes it Mortgage loan closer

    Anonymous Employee (Current Employee)

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

    ConsNever 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 Senior ManagementPromote 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

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

     

    Not a pleasant place to work, management is completely disorganized

    Top Dog In Charge of Everything (Former Employee)

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

    ConsA 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 Senior ManagementGet your act together.... you are losing good people!

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

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

     

    Work there at you own risk.

    Financial Service Representative (Current Employee)

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

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

    Advice to Senior ManagementI have none.

    No, I would not recommend this company to a friend

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

     

    Employees as commodity

    Anonymous Employee (Former Employee)

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

    ConsTop 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 Senior ManagementConsider 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.

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

     

    Poorly Managed Company

    Anonymous Employee (Former Employee) Troy, MI

    ProsIt bought me some time for my next career move.

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

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

     

    Worst place to work

    Anonymous Employee (Former Employee) Troy, MI

    ProsThere is no Pros I can say about this place

    ConsManagement 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.

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

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

     

    Discouraging reality of managers who have no clue.

    Customer Service Representative (Former Employee) Bellevue, WA

    ProsGreat co-workers, nice facilities and working conditions.

    ConsManagement 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 Senior ManagementCome 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.

    No, I would not recommend this company to a friend

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

     

    Never move up

    Anonymous Employee (Former Employee)

    ProsGood amount of time off and decenet benefits.

    ConsThere 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 Senior ManagementGet 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.

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

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

     

    Very flexible with time off

    Loss Mitigation Speciaist (Current Employee) Troy, MI

    ProsGood benefits work life balance

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

    Advice to Senior ManagementNeed to change pay structure and make it a fun place to work

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

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

    3 people found this helpful  

    Micro Managing Company with zero regard for their employees (Branch Manager)

    Branch Manager (Current Employee) Farmington Hills, MI

    ProsThe only pro is that fact they have health insurance for their employees.

    ConsWorking at Flagstar was the worse decision in my life!! They micromanage everyone even the Managers who are meeting their goals. They spend over three hours per week on conference calls of which every discussion is based on what you are doing wrong!!! It is counterproductive and draining. Limited staffing is in the branches and they want the managers to go on business calls but how can they if they are running transactions? If you do not speak the same verbiage as the Market Manager or beat to his drum then you will be targeted for termination.
    Overall, they are adding more people to the upper management team while removing people from the branches. I can honestly say that it is the worse bank to work for in Michigan!!

    Lastly, micromanagement to the ultimate level is the fact that they record every conference call so that the market manager can listen to ensure we are using his verbiage. WOW!!!
    I am looking for a new job because I have to get out of that toxic bank

    Advice to Senior ManagementThe senior management should come to the branches and observe the stress level of the staff. They should focus on providing the team with the proper tools and resources so that they can be successful in their position. In addition, limit the number of weekly conference calls and take control of the out of control Micromanaging Market Manager.

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

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