Flagstar Bank Reviews

Updated July 24, 2015
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2.5
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Flagstar Bank President & CEO Alessandro P. DiNello
Alessandro P. DiNello
59 Ratings

Pros
  • There are a lot of good people, but also a lot of fake people (in 7 reviews)

  • clean work environment, no clock punch, managers are nice (in 5 reviews)

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

  • There is little room for advancement and the leadership is constantly changing goals (in 4 reviews)

More Pros and Cons

172 Employee Reviews

Sort: Popular Rating Date
  1. Relationship Banker

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

    I have been working at Flagstar Bank (More than 8 years)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Great people, can learn a lot.

    Cons

    Pay not up to other banks.


  2. Good Company to work for

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

    I have been working at Flagstar Bank full-time (More than 10 years)

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    Stable and known for there many accomplishments in the Mortgage and Banking industry Company prides itself on their excellent customer service

    Cons

    Flagstar Branches/ Location are not accessible in the Southern States Not ideal for employees that may require work form home availability


  3. Merry Go Round of Leadership

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

    I worked at Flagstar Bank (More than 10 years)

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

    Pros

    Flagstar was (emphasis on was) a great place to be for many years. For many years it still operated as the tight knit, family run, community bank that made it successful. When the banking crisis hit the revolving door of leadership began that continues to today.

    Cons

    Multiple CEOs, COO, CFOs, CLOs, CIOs, Banking Leadership, Lending Leadership, Servicing Leadership has lead to a fragmented direction.

    Advice to Management

    Stabilize the leadership, communicate openly, listen to the people that have been there.


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Bilingual Mortgage Servicer

    Former Employee - Bilingual Mortgage Servicer in Troy, MI
    Former Employee - Bilingual Mortgage Servicer in Troy, MI

    I worked at Flagstar Bank full-time (More than 3 years)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Great pay and benefits. The employees there are professional and polite. Great place to work if you live near by.

    Cons

    It is a far commute to Troy from Southgate. You deal with people's lives and home, essentially. It can be stressful at first because it is a lot however, can be very rewarding.

    Advice to Management

    My advice would be to provide training in a bigger room while getting refresher courses or supplemental training. I liked the redroom more than the grey :) Training should be more thorough and provide exercises to get better understanding.


  6. Kind of a mess as a company

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Flagstar Bank full-time

    Pros

    Decent wages, good benefits, employees were very friendly

    Cons

    Management doesn't have clear direction, many people in departments do not know what they are doing at all


  7. Manager

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

    I have been working at Flagstar Bank

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    Pros

    Great co-workers, they are trying to turn it around and increase morale.

    Cons

    Lots of management turnover which usually causes lots of disruptive re-orgs and changes in initiatives and goals.


  8. Manager

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

    I worked at Flagstar Bank full-time

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    Pros

    Branches work well together, training is thorough.

    Cons

    Upper management micromanages to the extreme. Branches are badgered and belittled about goals and are expected to contact customers constantly to the point of upsetting customers. Branch employees are made to feel as though they can't ever do anything right.

    Advice to Management

    If you are unaware of how to answer a question or situation please don't "blow smoke". Stick to your word. Have some compassion for the people in the branches that are doing the work on the front lines which allows you to earn incentive. You are only as good as your team.


  9. Helpful (1)

    loan review analyst

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

    I worked at Flagstar Bank full-time (More than 10 years)

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

    Pros

    Nice safe area to work in, Nice building, some departments allow you to cross train. Diverse group of employee's.

    Cons

    Have been going thru lots of upper management changes over the last few years. Company tends to hire a lot and twice a year go through big lay offs. Working for them as many years as I did I can say the management has more closed door meetings and they are not very transparent to their employees. You are working in a cubical world where it's frowned on to speak to your team members. The group I was in took away our desk phones because we had no reason to call anyone outside the building. They put phones at the end of the row for us to talk to the IT dept if we had computer problems. Like we were 3 year olds not to be trusted. You have to account for every minute of your 7.5 hour day (450 minutes) . If you can't then you will fail to meet expecting on your annual review Pay is also on the lower end of the scale in the industry.

    Advice to Management

    Treat your employees like they are human not machines. Come out of your offices more, many of you hide in there. If you want us to work over time how about if you stay late with us. Management who have been with the company 10 plus years seem to think they are un touchable and above the little people. Sadly, I think the CEO Mr. DInello took on a sinking ship that prior management ran into the ground and unless he gets personally involved and meets with the "little" people nothing will change and they will be taken over by another company.


  10. Assistant Branch Manager

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

    I worked at Flagstar Bank (More than a year)

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

    Pros

    Small Branch, new customers well,job duties and expectations were always clearly communicated.

    Cons

    Small branch with only 3-4 staff members made it difficult for time off and also made for long hours for management trying to cover shifts and keep hourly staff hours in check. Biggest con - low pay & low incentives.

    Advice to Management

    Pay your staff what they are worth and your retail branches will reap the benefits.


  11. Post-Closing

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

    I have been working at Flagstar Bank full-time (More than 3 years)

    Neutral Outlook
    No opinion of CEO
    Neutral Outlook
    No opinion of CEO

    Pros

    PTO -bank holidays Co-workers Low stress/work-life balance OT pay (over 40hours)

    Cons

    No advancement opportunities Low merit increases/no pay raises for more responsibilities Outsourcing work/lay offs Negative employees/work environment on outlook of the company

    Advice to Management

    Develop employees and promote within-build a career path. You can easily accept a job elsewhere with "lower qualifications" and get a 20%+ pay increase. Evaluate the market, you're losing top talent.



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