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Flagstar Bank

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Flagstar Bank

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Flagstar Bank Reviews

Updated Jun 25, 2022

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Found 548 of over 591 reviews

3.6
69%
Recommend to a Friend
88%
Approve of CEO
Flagstar Bank President & CEO Alessandro P. DiNello
Alessandro P. DiNello
258 Ratings

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Top Review Highlights by Sentiment

Pros
Cons
Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.

Ratings by Demographics

This rating reflects the overall rating of Flagstar Bank and is not affected by filters.

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  1. 5.0
    Former Employee

    Great company

    Mar 28, 2022 - Senior Auditor 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Company really cares for employees.

    Cons

    I was laid off unexpectedly

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  2. 5.0
    Current Employee

    Good Company, Competitive Benefits

    Jun 25, 2022 - Quantitative Financial Analyst in Troy, MI
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Good company, values employees' contributions.

    Cons

    The system is relatively old. The location is not that ideal.

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  3. 1.0
    Former Employee

    Scam, persuade you to take the job with great benefits. Then kick you to the curb during unexpected lay-offs

    May 4, 2022 - Sr. Mortgage Loan Processor 
    Recommend
    CEO Approval
    Business Outlook

    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.

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    4 people found this review helpful
  4. 3.0
    Current Employee, more than 3 years

    Solid bank that did not plan for a market shift

    Jun 1, 2022 - Mortgage Loan Officer 
    Recommend
    CEO Approval
    Business Outlook

    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.

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  5. 4.0
    Current Employee, more than 8 years

    Remote Worker

    Jun 19, 2022 - Collections Specialist in Troy, MI
    Recommend
    CEO Approval
    Business Outlook

    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.

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  6. 5.0
    Current Employee, more than 1 year

    Good job

    Jun 20, 2022 - Teller in Jackson, MI
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Lots of training and easy day to day

    Cons

    Lots of waiting around during slow hours

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  7. 5.0
    Current Employee, more than 3 years

    Great place to work

    Jun 16, 2022 - Disclosure Specialist 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Work from home is great!!! Benefits are amazing and they really take care of their employees.

    Cons

    Really can’t think of any cons

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  8. 5.0
    Current Employee, more than 3 years

    Over all great company.

    May 26, 2022 - Branch Manager in South Bend, IN
    Recommend
    CEO Approval
    Business Outlook

    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.

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  9. 2.0
    Current Employee, more than 8 years

    IT leadership is horrible

    May 9, 2022 - Information Technology in Troy, MI
    Recommend
    CEO Approval
    Business Outlook

    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.

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    1 person found this review helpful
  10. 4.0
    Former Employee

    Not bad

    Jun 14, 2022 - Analyst 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    leadership was not that bad

    Cons

    Benefits and the pay was low

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Viewing 1 - 10 of 548 Reviews

Flagstar Bank Reviews FAQs

Flagstar Bank has an overall rating of 3.6 out of 5, based on over 591 reviews left anonymously by employees. 69% of employees would recommend working at Flagstar Bank to a friend and 62% have a positive outlook for the business. This rating has decreased by -3% over the last 12 months.

According to anonymously submitted Glassdoor reviews, Flagstar Bank employees rate their compensation and benefits as 3.5 out of 5. Find out more about salaries and benefits at Flagstar Bank. This rating has decreased by -9% over the last 12 months.

69% of Flagstar Bank employees would recommend working there to a friend based on Glassdoor reviews. Employees also rated Flagstar Bank 3.6 out of 5 for work life balance, 3.8 for culture and values and 3.5 for career opportunities.

According to reviews on Glassdoor, employees commonly mention the pros of working at Flagstar Bank to be work life balance, coworkers, benefits and the cons to be senior leadership, career development, management.

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