banking consultant

branch leader

senior vice president

senior relationship manager

asset allocation research analyst

FlagStar Bank

Family orientated workplace which made going to work feel as though you were at your favorite relatives house where you were treated so well but you had to pull your weight.  Working with a diverse group of individuals was a lesson well learned..it taught me that we are all the same at the end of the day and just because someone is a little different than you or comes from a different background dosnt mean that you cannot work together as a team for the same common ground.  Working a multi-line phone system can get extremely busy at certain times of the day and certain months, that being said, there were several days when the customers would unfortunately have to deal with extremely long hold times and being on the front line makes you get the brunt of the irritation of the customer having to hold for a long  period of time. But I took it upon myself to learn on my own time (during lunch) to learn what the main questions were that customers asked when being transferred to certain departments.  Therefore, instead of having to transfer the customer a second time to the appropriate department with another long hold time I was able to answer a lot of the customers questions without having to pull up a loan number or the customer's information which being on the switchboard we did not have access too to begin with.  The customer may  just need to know what time a specific department opens or closes, who the manager is of a specific department or addresses to send certain correspondence, I felt good being able to provide a customer with those types of questions instead of having to transfer them to a department with a long hold time just for a simple answer. After I was done giving the customer the information that I was able to provide not being an actual customer service representative that customer would be so grateful and would sometime ask me "how come the other switchboard operators have to transfer instead of providing that information"?

Significant executive leadership changes throughout the last 6 years at Flagstar Bank has resulted in tremendous inconsistencies, unfulfilled promises, obvious selfishness throughout most levels of leadership, and a culture of dissention and disrespect. 
Compensation has always been lousy at Flagstar Bank. Promises were made over two years ago that compensation would be overhauled and brought in-line with market/industry standards. That process took over two years to complete and most current employees remained underpaid while new hires were frequently brought in at higher compensation.
Human Resources has never expressed a position of being pro employee, they do not act as advocates for employees, only as advocates for themselves. Human Resources management has been one of the greatest disasters at the bank. Things were bad with the longest tenured director, then her replacement made everything worse. I wish the best for the newest director. She really has her hands full cleaning up the mess created by her predecessors and the current executive leadership group.
Executive leadership has focused on saving the bank, from financial and regulatory catastrophes. They have succeeded, the bank is still open and operational, though still under an OCC consent order. I am concerned that the current focus is too narrowly aimed at stock price elevation and not enough on long-term sustainability. Countless quality contributors have left the organization and found more gainful employment. I would not be surprised if the bank is positioned for some type of merger or sale to yield a return on the investment MatlinPatterson, majority shareholder and the unofficial parent company, committed to the bank.
I wish Flagstar Bank the best and hope they can be better stewards of their responsibility to all those who rely heavily on them.

After joining Flagstar, I realized that all the promises made to me about support and income were exaggerated.
Since the position is primarily commission only, this was very disconcerting and disappointing.
Management appears to be primarily concerned about the image of the bank. 
Very little support appears to be focused on marketing outside of the home base (they are the largest bank in Michigan).
While internal systems are adequate and personal are in place to do the primary jobs to get mortgage loans closed - the work load placed on loan officers (due to continual added responsibilities) makes it an environment where it is difficult to grow.
Hopefully, as the bank's business continues to decline, leadership will realize that there needs to be more that words to support the retail mortgage sales team (loan officers).
Adding and adding more and more job functions makes it inconceivable that loan officers will be able to grow the position to a point where a living wage is possible.
When hired I was told that I was expected to be in front of people - primarily realtors and potential clients - over 50% of the time; however my continued involvement in the "weeds" of each loan, consumes my days.
I've been originating home loan mortgages since 1996 and have never seen the extraordinary involvement by loan officers in the details of their loans, as I have here. In order for a loan to close on time, the loan officer has to be extremely involved in even the smallest details.
It is hard to picture how the bank will allow the retail mortgage division to grow and prosper. My guess is the wholesale division which makes up the bulk of the sales $ will continue to be the primary source of revenue for years to come.

I've been here for about 6 months, the job is fairly easy however when you need support youre required to call a HOT line, theres little to no interaction from your supervisor after your training you're just expected to know and figure out a 500 page user guide, that takes forever to load, they insist that you must leave notes on every call but their system malfunctions regularly, the work is repetitive, and they cut your lunches, and your day to day schedule changes everyday, its nice to have weekends off but you are scheduled to work on Saturday a month and they pick your following work week day off so you can have an extremely long work week. you get paid $15 an hour and most are contracted and have to work 600 hours before brought on as full employees, so you do not get the same benefits as the flagstar employee you have to EARN to be treated like a decent human, i've personally decided I am leaving the company as the work is not satisfying, its repetitive, theres no actual support and theres constant fussing about what we as employees need to do without any change from actual management which isn't a shocker however they dont pay enough or have enough support to feel like, nothing ever works, quality assurance dings calls that you were barely trained on

the jobs ok at best

My typical day of work consists of reviewing a list of loans for the day (a portion of the 1600).  The loans are set in priority due to the age and investor of the loans.  

The main focus is to analyze the delays of the aged population of loans and execute a postive resolution for each loan and to reduce further delays.

Management is always great in assisting the staff on any updated information needed regarding state law or investort guideline changes, additional review of diffucult files and weekly meetings are held to keep all portfolio managers informed and on top of their monthly goals.

My co-wokers are a great team to be a part of and we work well keeping each other informed of anything that is helpful to our daily responsiblities.  

The hardest part of the job is the ongoing changes within the investor, state and local laws/guidelines.  There is always constant change so it's very important to remain organized and track all updates very carefully.

The most enjoyable part of the position is that each portfolio manager has their own set of states to manage and we have a lot of freedom to orgainze how we review and prioroitize our daily responsibilties.  As long as we all have the same goals, we can manage our day how we feel appropriate to meet the goals.

Flagstar does not care about retail, they promise the moon (lie to you) that they have big plans and all of these great programs that "no one else can do" (that is not true Wholesale can do them all and they get better rates than Retail - very frustrating!!) they promise to supply you with leads (1 in 15 months) and since no one in your state even knows who "Flagstar" is.. that's important. But then when you do get there, there is no advertising,  they do not try to get the name out to the community (you do with little help from your manager) and there is simply no budget, they cant even afford to buy you a business card holder for your desk!! The management claims to be "professional" and is anything but (unreliable). The atmosphere there is one of zero trust, spying and lying, they take advantage of your experience and your contacts. If you are a Loan Officer who has any experience (at all) this is not the place for you, the compensation is very poor and don't be fooled or flattered by the (important sounding) title every Loan Officer is a "Senior Loan Officer" even the ones with absolutely ZERO experience. Management is less than professional, underwriting is ridiculously slow and closing has no idea how some states operate and don't care to understand . Management does not care about its employees they only care about how much money you can make for them. Worst place ever!! Oh yeah, that signing bonus... I encourage you to read the fine print!

Work-life balance
This really is one of the very best companies to work for in Michigan. Benefits are exceptional the people are great and the company culture is about second to none. The drive for diversity and acceptance is very welcoming to everyone. The executive management are in touch with the staff and very approachable. If you are looking for a job in the banking industry I can't think of a better place to work. If you are considering applying, I say don't hesitate. Pursue that position opening. I doubt you will regret making the move.

Pay & benefits
Base pay is a bit on the low side compared to my same position at other banks, but PTO, (about 3 weeks starting year #1) generous benefits (health vision and dental etc) , 401k matching and very flexible hours as well as options to work from home more than make up for it.

Job security and advancement
There is a clear path for advancement which is communicated to employees. High achievers are rewarded.

Management
The CEO is one of the most down to earth and grounded people at his level. He is innovative and is always looking for ways to interact with and make employees feel valued.

Culture
Diversity and inclusion are given exceptional high priority. Minorities and women are raised up and given an exceptional voice.

Overall
Pro's: Everything. Good work is rewarded. 

Cons: in the year and a half I've been with Flagstar Bank, I can't think of many Base pay could be higher.

•	Verified all documentation with regards to: loan applications, credit reports, appraisal and title information. Promptly and accurately reviewed files to issue updated loan approvals.
•	Interpret internal guidelines and policies to ensure documentation provided for review were sufficient to clear outstanding conditions. 
•	Coordinate underwriting activities with loan processors to ensure loan requirements are met; notifies loan production personnel of incomplete files to obtain appropriate information necessary to complete loan packages.
	Review all aspects of the loan file for completeness and accuracy to meet Conventional and FHA requirements.
	Sign off status to clear following conditions: signed RESPA disclosures, title commitment, chain of title, homeowners insurance coverage, HO-6 coverage, verification of employment, verification of social security information, FHA case number assignment, private mortgage certificate coverage requirements, flood cert, 4506-T transcripts and verification of assets.
	Appraisal review for any variance in subject property address, parcel number verification, PUD status, flood zone determination, year built, neighborhood characteristics and site information.
	Running files through automated underwriting engines for AUS recommendation (DU/LP).
	Citrix Applications: IDM/LoanTrac (paperless upload) and Mortrac system.

Flagstar Bank provided and increased my knowledge with customer service experience as an office professional with over seven years of diverse default banking experience in the financial customer service industry.  Busy work environment, excellent learning experiences, management willing to go the extra mile, many co-workers working together as a team to accomplish the team goals of the department. Hardest part of the job was due to computer system issues which sometimes slowed the process of completing job duties. The most enjoyable part of the job was taking calls in the Call Center to assist our customers with excellent customer service and make a difference to service our clients and mortgage customers in the most respectful, caring and nurturing way while providing the collection resolution of the call verbally or in writing.  Holidays were always a fun time for every department to enjoy the company celebration appreciations to all the employees.

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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