Flagstar Bancorp Reviews

Updated August 21, 2014
Updated August 21, 2014
128 Reviews

2.4
128 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
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

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  1. 1 person found this helpful  

    anonymous

    • 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

    Pros

    Coworkers are like second family. great location. sort of relaxed environment depending on department

    Cons

    Too many hours, too many projects that are started and never finished, too many managers, difficult to move up within company

    Neutral Outlook
    Disapproves of CEO
  2.  

    Former AE

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

    I worked at Flagstar Bancorp full-time

    Pros

    Flagstar is well known in the wholesale lending arena. They were one of the first to bring the concept of the emerging banker into the lending world, so they are very good at it. They have excellent technology as well.

    Cons

    They have recently laid off of bunch of individuals and the ownership is different now than when I worked there, so I am not the best person to speak on how things are now. It has been longer than 2010 since I worked there, however the system doesn't have that option. I am a stockholder though, so I still know what is going on to some degree there.

    Neutral Outlook
    No opinion of CEO
  3.  

    A very fast pace environment with growth potential, if you are willing to put in a lot of hours.

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

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

    Pros

    Ability to make a difference in a growing company.

    Cons

    Poor systems, weak infrastructure. A lot of manual work.

    Advice to ManagementAdvice

    People are the greatest asset - treat them with respect and they will do great things for you.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
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  5.  

    My experience at Flagstar started off ok. Then it became a nightmare. They started to track your every move.

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

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

    Pros

    They are willing to hire people with little to no experience. There is some potential to move up.

    Cons

    Management is rude. There is no lunch room on any of the floors. You have to share microwaves with the whole company.

    Advice to ManagementAdvice

    Management needs to stop mico-managing their employees. They make you feel like you are always doing something wrong. They need to encourage their employees more. This will help boost moral.

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

    Flagstar bank is an alright place to work, tough to move within.

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

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

    Pros

    Flagstar is a small enough bank that most people at corporate are known around. They have the big bank name and small to medium bank feel that makes customers feel comfortable.

    Cons

    It felt difficult to get promoted within, most people have been there for a while and like where they were at and content without going anywhere.

    Advice to ManagementAdvice

    Show a path to career advancement to new employees.

    Recommends
    Neutral Outlook
    No opinion of CEO
  7.  

    Senior Loan Officer

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

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

    Pros

    Clean, secure work environment. No clock to punch and little to no supervision. Extremely easy interview process, acceptance and placement. Given trust from day one.

    Cons

    I worked for Flagstar for one year. Unfortunately, I found no encouragement to succeed. No corporate culture. No "in person" training. No career path and restrictive prospecting policies.

    Advice to ManagementAdvice

    Pay a "living wage" to those who provide professional services on behalf of the bank. Engage in in person training and create a corporate culture of any kind. Encourage management to take an interest in employees in the field. Include all employees in year end bonuses when bonuses are given.

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  8.  

    It was A great learning experience

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

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

    Pros

    If you get into the right department, your learning can be endless

    Cons

    You work for a company and bust your butt and work 50-60 hrs a week and then they decide to outsource your work and you are out of a job.

    Advice to ManagementAdvice

    Quit hiring friends and relatives as team leads and managers and hire people on their dedication and performance.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  9.  

    Current Employee.

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

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

    Pros

    Nice people, Good working conditions, great hours, great benefits

    Cons

    Very low pay, not much room for advancement, work quota's that can be hard to reach, error ratios that are hard to stay below. Many Departments being closed and outsourced. Overtime is almost impossible to get.

    Advice to ManagementAdvice

    Stop outsourcing your business and laying off employees. The employees you have now have experience in your company and could help you with your new vision if you let us. Increase the pay and give hard working current employees a chance to get into management positions.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10.  

    Flagstar Review

    • 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 for less than a year

    Pros

    Good people; knowledgeable resources; average pay range for position

    Cons

    Due to recent leadership change the bank seems to be in a downsizing mode. Future for many there is uncertain at this time

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  11.  

    Open accounts and provide customer service.

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Flagstar Bancorp

    Pros

    They customers seem to be fairly loyal

    Cons

    There is little room for advancement and the leadership is constantly changing goals.

    Advice to ManagementAdvice

    Develop a better training program for banking staff.

    Recommends
    Neutral Outlook

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