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

Sort: Popular Rating Date
  1.  

    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

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

    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
  2. 1 person found this helpful  

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

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

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

    Pros

    Above Average Pay, and flex time

    Cons

    Poor 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 ManagementAdvice

    Breakdown 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.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3.  

    Great people

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

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

    Pros

    The staff at this banking institution are amazing individuals.

    Cons

    Middle Managment is non-exhisting and under appreciated by upper Managment.

    Advice to ManagementAdvice

    Start assigning tasks to groups and instill a degree of accountability across functional areas.

    Recommends
    Positive Outlook
    No opinion of CEO
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  5.  

    flagstar bank the bank of MI

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

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

    Pros

    Benefits / Hours / PTo /Vacation

    Cons

    Pay / advancement / na / na

    Advice to ManagementAdvice

    na

    Recommends
    Neutral Outlook
    No opinion of CEO
  6.  

    the company of spurious claims

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

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

    Pros

    Friendly environment
    401K and heath benefits offered

    Cons

    They 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

    Doesn't Recommend
    No opinion of CEO
  7.  

    Decent company to work for.

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

    I have been working at Flagstar Bancorp full-time for more than 3 years

    Pros

    There is a friendly and positive atmosphere in the department where I work. People work well together and management is fair and supportive of employees.

    Cons

    Company is still working to overcome challenges of the down economy. Customer service agents present less than professional front to customers. Proper grammar should be a minimum requirement for agents. Frustrating that all employees, including salaried, are required to punch a time clock.

    Advice to ManagementAdvice

    Improve customer experience by hiring higher quality customer service agents to begin with and then take a look at training, especially servicing new hire.

    Recommends
    Neutral Outlook
    No opinion of CEO
  8.  

    Average conditions. Nothing special. Nothing horrible.

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

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

    Pros

    Health insurance is not bad.

    Cons

    No flex scheduling, must work 8:30 - 5 with an hour lunch, 37.5 hour work week instead of 40

    Advice to ManagementAdvice

    You will continue to lose employees to other mortgage companies and banks that offer better pay and 40 hour work weeks, and flexible scheduling.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  9.  

    Never move up

    • 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 for more than a year

    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
  10.  

    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

    I have been working at Flagstar Bancorp full-time

    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
  11.  

    Good leapfrog company, poor structure

    • 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

    Competitive pay, normal hours, good benefits, good PTO, opportunity to move up

    Cons

    HR is VERY slow processing promotions, 5+ years before PTO increase or promotion, poor executive management structure ("reorganizations" are very common. Ive been hear 14 months and already 3 reorgs in my department)

    Advice to ManagementAdvice

    Pay UW's and lower level managers better because you are losing them to competitors, provide a better promotion from within plan.

    Recommends
    Neutral Outlook
    Disapproves of CEO

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