Flagstar Bank Reviews | Glassdoor

Flagstar Bank Reviews

Updated March 25, 2017
54 reviews

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2.0
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Flagstar Bank President & CEO Alessandro P. DiNello
Alessandro P. DiNello
17 Ratings

54 Employee Reviews

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Pros
  • Great co-workers, they are trying to turn it around and increase morale (in 6 reviews)

  • Great place to work if you live near by (in 7 reviews)

Cons
  • Upper management micromanages to the extreme (in 11 reviews)

  • There is little room for advancement and the leadership is constantly changing goals (in 5 reviews)

More Pros and Cons

  1. "No Career Mobility, High Turnover"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior SOX Specialist in Troy, MI
    Former Employee - Senior SOX Specialist in Troy, MI
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at Flagstar Bank full-time (More than a year)

    Pros

    - Banking industry
    - Growing brand in metro Detroit

    Cons

    I worked in a spin-off of Internal Audit, and worked for the worse supervisor that I ever had yet.

    - Company only had 6 profitable quarters and had layoffs in 2013 and 2014. Apparently more layoffs were held in 2016.
    - High turnover in department
    - No training in department
    - Bad relations with internal auditors who can write you up.
    - No understanding or care for diversity and inclusion principles. If you are minority, you minus well count yourself out of any meaningful assignments or exposure in the company. You are automatically viewed as a threat and incompetent.
    - unqualified management, who lie and blame staff to get their way.

    Advice to Management

    Please remove weak management, who are unqualified for their job. Improve your internal controls department so people stop leaving every 6 months.


  2. "Keep looking"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Flagstar Bank full-time

    Pros

    Good health benefits, good pto schedule.

    Cons

    Doesn't value good employees, and promotes those that brownnose.

    Advice to Management

    Talks a good game but doesn't execute.


  3. Helpful (2)

    "Disappointing"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Manager in Troy, MI
    Former Employee - Manager in Troy, MI
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Flagstar Bank (More than 3 years)

    Pros

    Benefits, PTO are above average

    Cons

    Unethical management, toxic culture, unwillingness to change

    Advice to Management

    Take an ethics class


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


  5. Helpful (1)

    "Highest Turn Over I've Ever Seen"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Troy, MI
    Former Employee - Anonymous Employee in Troy, MI
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Flagstar Bank full-time (More than a year)

    Pros

    Onsite childcare and cafeteria

    Cons

    The pay sucks
    Management is very lazy and shows favoritism
    You job isn't safe


  6. "Post closing receiving analyst"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Contractor - Post Closing Receiving Analyst in Troy, MI
    Former Contractor - Post Closing Receiving Analyst in Troy, MI
    Doesn't Recommend
    Neutral Outlook

    I worked at Flagstar Bank as a contractor

    Pros

    Average pay, good facilities . There is really no other good reasons pros. My experi nice there was not that good.

    Cons

    Stressful environment, the workload is so big , you feel like you're a slave there. You are afraid to use the bathroom so you don't lose time and don't meet your quota.


  7. "Revolving Door"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Project Manager in Troy, MI
    Former Employee - Project Manager in Troy, MI
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Flagstar Bank full-time (More than a year)

    Pros

    Benefit packages that are available are very good. They offer a cafeteria plan of benefits, and provide education seminars so that employees understand what is offered.

    Cons

    Executive team changing or they hire their family members. Revolving door of employees. They hire 300 employees for mortgage, then they are gone. Always have job openings and having job fairs on-site. HR department is not "human."

    Advice to Management

    Employee retention is important and hiring people who can do the job rather than hiring family and buddies. Clean up your act.


  8. "First VP"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - First Vice President in Troy, MI
    Current Employee - First Vice President in Troy, MI
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Flagstar Bank full-time (More than 5 years)

    Pros

    The bank is primarily a mortgage business and is heavily involved is all aspects from origination and underwriting to closing, sales, and servicing. Market trends are reflected as soon as the appear. The worker bees are a good group of folks trying to do the best they can.

    Cons

    Very poor senior management. Lip service to 'hire from within' is non-existent in practice. Top levels of management is a revolving door. Each new boss wants things their own way - which means they want all new reports/information in addition to all the legacy deliverables. There is a failure to dig into the details.

    Advice to Management

    Listen to your staff. If you can get them to provide suggestions without fear of reprisals, you'll hear some good and helpful suggestions.


  9. "Interesting"

    Star Star Star Star Star
    Former Contractor - Anonymous Contractor in Bellevue, WA
    Former Contractor - Anonymous Contractor in Bellevue, WA
    Doesn't Recommend
    Negative Outlook

    I worked at Flagstar Bank as a contractor (More than a year)

    Pros

    Knowledge and insight into the mortgage industry

    Cons

    lots of layoffs and inept management


  10. "Good place to work"

    Star Star Star Star Star
    Current Contractor - Michigan in Troy, MI
    Current Contractor - Michigan in Troy, MI

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

    Pros

    good technology stack for people who want to learn

    Cons

    middle management has their own agenda which is hurting the overall performance within IT


  11. "I have seen management try to stop employees from advancing their career. Once you are in a position, you are stuck."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Mortgage Servicing in Troy, MI
    Current Employee - Mortgage Servicing in Troy, MI
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I have been working at Flagstar Bank full-time (More than 5 years)

    Pros

    I have learned a lot and the experience is great. Co workers are down to earth Lots of hard workers.

    Cons

    Under paid, poor management. Departments can't communicate and it's like pulling teeth to get them to be on the same team even though we all work for the same company.

    Advice to Management

    Train your employees thoroughly. Allow them to make their own decisions. Don't treat them like children and recognize them by paying them what they are worth.



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