Flagstar Bank Reviews

Pros

Flexible work from home schedule

Cons

I was an employee with Flagstar bank. Always met expectations and completed my work ahead of schedule, as with many of my fellow employees. On 4/22/22 at 1pm they scheduled a zoom meeting for 1:30pm. During this zoom call with over 100 people they told us all at once we were being laid off and relieved of our duties effective immediately. They then called another zoom a few days later urging us all to apply for call center positions with drastic pay cuts. The friends I had that did apply for this position never heard back. We believe this was because Flagstar didn’t want to consider anyone a transfer, so they could take back their vesting from our 401K’s. So a benefit used to encourage you to work there was taken away from us during this sudden unexpected layoff. They gave us a very small severance package of 2 weeks pay(not enough to even go through the onboarding process with a new employer). I would encourage anyone who wants to do business with, or become employed with Flagstar to think again. At the first chance they get they will screw you over, if it’s a benefit to them. They then will provide little to no support during your separation.

Pros

Great people. Great job up until the rates turned and the bank was only setup for refi on the call center platform. Competitive rates for prime customers.

Cons

Very vanilla product offering. Only new hires get purch leads and the people that have been with the bank long term are not offered or must compete on a poor cust support lead based platform so no way to make money as a sales person in the current. Its been 5 months and no other plans have been conveyed other than to lay people off.

Pros

Working remote saves on gas, clothing food food. Less distractions less stress more productive focus on work

Cons

Less interaction with employees and involvement with company activities.

Pros

Lots of training and easy day to day

Cons

Lots of waiting around during slow hours

Pros

Large enough bank to offer product and growth potential. Company was very welcoming and made you feel included and valued right away.

Cons

Pay is lower than most competitors and company is growing and losing touch with its front line (branch) employees.

Pros

The CEO is good and the HR department does try to keep things competitive.

Cons

The CIO is horrible and insecure. The CIO leads with fear and is toxic and so does her leadership team. A lot of IT leaders have left the organization, the only ones who remain are others that line up with the bully, fearful mentality that the CIO leads with. Has implemented a culture of micro managing and control. Has done a great job and disempowering her employees. Only cares about how she looks to her senior leadership and steps on the ones below her. Short on resources for projects and yet has no issue abandoning her team when difficulties arise. Takes full credit when projects go well. Was filtered down that the CIO would not back her team to the board in projects that were behind.