Flagstar Sucks Customer Reviews and Feedback

From Everything.Sucks

Flagstar Bank is a bank headquartered in Michigan. It is the primary subsidiary of Flagstar Bancorp, Inc., a bank holding company. It is one of the largest residential mortgage servicers and is on the list of largest banks in the United States.

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I certify that this review is based on my own experiece and is my opinion of this person or business. I have not been offered any incentive or payment to write this review.

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Former Employee - Personal Banker says

"I worked at Flagstar Bank full-time Cons: Lack of leadership on the upper management including market manager Jodie. Lots of favoritism in upper management."

Former Employee - Senior Cash Operations Specialist says

"I worked at Flagstar Bank full-time for less than a year Cons: Everything. Was asked several times in interview how well I did with excel, that was the only important thing they cares about. Was told I would have access to SQL they don't even use it. Also was told I'd be doing more projects and never did. Everyone is button pushers and didn't know corporate advance they wrote off funds just because. The work was all manual and no room for improvement. I found many red flags and a lot of issues to bring to our MSR owners and no one cared. They seem to have a mentality of "let them figure not out and being the issues to us". No room for change either. I tried to bring up improvements to daily work and to bigger fixes and no one wants to listen. This has been the worst place by far to work for. If you want to push buttons and do really well with excel this is your place but if you want impact and to make your work life better go elsewhere. Also when I left they decided to try to do my exit interview off company time and wanted to do it after I left and never sent out a separation packet till I had to ask for one. They don't care about you. Also the CEO will brag from his secondary home in Florida while Covid is happening and then a week later be back in Michigan. Then telling employees if you don't like it here then leave. They all just want their paychecks. Not sure how things are on the banking side but the mortgage side is not good. Team members would rather make fun of you then help you. Very discouraging."

Current Employee - Customer Service Representative says

"I have been working at Flagstar Bank full-time for more than a year Cons: Flagstar doesn’t care about their employees. The work life balance is horrible. If you ever happen to use a sick be ready to have they held over your head. They offer 1 hr lunch as your only break in 7.5 hour shift but due to not having enough work to handle the increasing workload they mandate OT and short the lunch to 30 mins. There is no breaks scheduled at all. Management will be honest and say how people leave during training for better opportunities. Flagstar’s processes and procedure are backwards and completed makes doing your job very difficult."

Former Employee - PURCHASE AUDITOR says

"I worked at Flagstar Bank full-time for more than a year Cons: Correspondent management are horrible micro managers. Was treated like a little kid"

Former Employee - Human Resources says

"I worked at Flagstar Bank full-time Cons: The management was unlike anything I have ever worked with or for. Very inclusive of diversity"

says

"I worked at Flagstar Bank Cons: Worst company to work for . They don't respect their employees. If some manger don't like you because of your race or for a personal reason, you can get easily fired for no obvious reason."

says

"I worked at Flagstar Bank Cons: This company will make false promises before hiring an individual in order to make a person feel like they are making the right choice by working here. First off, this bank is just like any other bank, but has very poor culture, do not let them fool you when they say they don’t push sales, because they are just like any other bank. After the hire date, an employee will be in a training for only three weeks which by the way does not help at all. You will only be taught how to do the daily transactions and forget about the sales training, you will learn nothing. Management at this bank is very poor, they show no support for their employees, especially the new hires.They do not coach there employees on the policies and procedures and once you make a small mistake they will hold that against you so you are not promoted, which will force a person to remain in the same position for a long time despite the fact that a banker is a top performer. I’ve seen employees terminated without any warnings for things that they weren’t coached on. The environment of this bank is very stressful. Systems are always malfunctioning, customers will always have problems signing on there online banking, debit cards are never mailed on time, and this bank sets unrealistic goals for their employees. Business customers are always upset because they don’t offer a mobile app which hurts the banker because a lot of customers leave the bank because of this issue. The customer service line does not know how to resolve problems. They always push the calls to the branches which wastes the banker’s time, because the banker is forced to spend almost half the day fixing problems that should not be his or her responsibility in the first place while also having to worry about the sales goals. Loans such HELOCs and HELOANs take a long time to get approved hurting the bankers reputation in the community as opposed to the competitors in the area. I’ve seen cases of redlining but was not able to prove it. Most loans take over 3 months to close. Ridiculous! Beware of working at this bank, it will hinder your career in banking, and you will learn nothing because as I mentioned before, they have very poor training, and expect you to perform immediately. This is a warning from someone who was a top performer at this institution and always did right by the bank and the customer and was terminated for something that they weren’t coached on without any warning. Shame on this on this bank, absolutely terrible place to work and grow in this industry. Hope this helps."

Former Employee - Senior Underwriter says

"I worked at Flagstar Bank full-time for more than 8 years Cons: Layoffs are frequent. Sr. mgmt offers minimal to no support and lacks knowledge of guidelines. Management uses “fear” tactics to increase productivity and internal gossip for reviews"

Current Employee - Insurance Tracking says

"I have been working at Flagstar Bank full-time for less than a year Cons: Everything about this place is a con especially giving you occurrences for being 2 minutes late and they wonder why their turnover is so high"

Former Employee - Mortgage Consultant says

"I worked at Flagstar Bank full-time for more than 3 years Cons: Little to no support from management - just another cog in the wheel. Management’s attitude is that if you don’t like it, there are a hundred others to fill your job."

AVP Sr.General Manager (Former Employee) says

"being successful, is an illusion. They closed down my banking center even though we were banking center of the year and in the top five banking center five years in a row."

Credit Analyst (Former Employee) says

"You did more but got paid less. The supervisor was a liar and caused issues. She would tell other people business and the manager hide in her office."

Senior Loan Boarding & Service Transfer Specialist (Former Employee) says

"My experience at FSB was not one that was very pleasant. I was misled and mistreated to say the least. The company prides itself on ingenuity, technology, and advancement opportunities; however, the computer systems are outdated, there were/are staffing issues, there’s a lack of creativity when it comes to employee engagement, moral was extremely low, and systematic racial/cultural inequalities. Leadership was lacking in knowledge and tasked the employees with additional tasks they were inept to complete. Furthermore, since there were many employment opportunities in the mortgage realm in the area with comparable pay, they used this as a tool to pigeon hold the staff. The facade presented did not live up my expectations and I would never recommend this company to anyone."

Customer Service Representative (Former Employee) says

"Was told would get 2500+ bonuses but that was a complete lie to get me in the door. Management treats employees like lower-class citizens. They tell you that you will have all this PTO but then deny all requests to use it."

Branch Services Representative (Former Employee) says

"Management is clueless about leadership. They use deceptive practices to the point of lying to customers as well as employees. There is no career potential. Upper management takes the attitude “we’re above laws and regulations” and instead of doing things right they expect the customer to adapt and deal with poor service."

Relationship Banker (Former Employee) says

"Unprofessional, they should just close the bank , doesn't give you any write ups will just fire you without warning,no training but still you are responsible person who will get fired, these dummy market managers should get fired, don't use their brains , not considerate of other person's situation"

Personal Banker (Current Employee) says

"Operationally dysfunctional. You want to be stressed beyond belief and ruin your life, work for this company. Bonuses do not exist and everybody is running around stabbing everyone in the back. They promise you vacation time and then it is cancelled because they have fired too many people and are staffed too thin. Cons: Read above"

Commercial Loan Specialist (Former Employee) says

"I worked my butt off for them, they promised me a full time spot but when my contract with the staffing agency expired they said we don’t need you any more. My supervisor there didn’t even have the guts to tell me directly!"

Customer Service Representative (Former Employee) says

"I never seen my supervisor or did any coaching! We were only required to work 37.5 hours a week with no PTO! You did not get a break only a hour lunch. The calls were stressful like every single call someone was nagging. I would t recommend working there Cons: Pay, no PTO, no breaks"

Review Representative (Former Employee) says

"I would not recommend anyone to work for this company they do not appreciate there employees at all a very high stressful low moral environment management was one of the worse that I've ever experienced lack of communication with its employees showed special treatment to certain employees that they like and lack of leadership. There was no balance in the work volume to maintain within the employees and unfair treatment amongst others. Again I would NOT recommend anyone to work Flagstar at all. Cons: Low moral, stressful environment, lack of communication amongst management and mismanagement"

Senior Loan Officer (Former Employee) says

"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! Cons: pay and management"

Call Center Representative (Former Employee) says

"Never worked at a more poorly run call center. Very low pay and extreme biases and racism! The managers are uneducated They also love to discriminate against foreigners. Cons: Poor pay and management"

Cleaner/Maintenance (Former Employee) says

"This is one of the most awful stressful places I have ever worked for they are very rude and ungrateful they are very sneaky the managers at the bank followed me around until they seen something that did not like and got me fired for it, I spent two years Faithfully coming in 3 days a week to clean and I was repaid by losing my job during a holiday also they would leave People's Bank information out like Social Security numbers and bank account numbers also they would leave full trays of money out trying to get the cleaners to be dishonest hope the proper people see this Cons: Your pay is almost never on time!"

Loss Mitigation Underwriter I (Former Employee) says

"Manager and vp were very gossipy. Played favorites and promoted there friends only. It bascailly consisted of gossip and srong arming employees . I would not recomend."

Annuity Specialist (Former Employee) says

"this is a terrible company to work for. It is a high pressure sales driven company that makes it extremely difficult to achieve success. The company gives ultimatums which are not motivating. They do not hire well from within."

Customer Service Representative (Former Employee) says

"Work was good till the new manager came in. All of us that were there for years were laid off and new people were hired at a lesser rate. We were told they would call us back. They never did. Cons: 10 to 12 hour days because of lack of help"

Jr. Loan Officer (Former Employee) says

"After going through an extensive interview process lasting over 3 months, and receiving a verbal commitment on compensation/position as a Sr. Loan Officer I decided to join Flagstar Bank. Within the first week everything I was told was a lie, everybit of it. From position to compensation. Cons: Lack of leadership."

DE Underwriter (Current Employee) says

"The management for this company does not support employees and only looks out for themselves. Very ridged on employee requirements. Would not recommend. Cons: everything"

FINANCIAL SERVICE REPRESENTATIVE (Former Employee) says

"From the front line - low pay, disconnected management, policies are not strictly enforced, jaded opportunities for bonuses, many hurdles in place to complete relatively mundane tasks. Cons: Weekend hours, weak management"

Loan Officer (Former Employee) says

"They put nothing into marketing for their employees. They expect the loan officers to pay 100% of their own marketing, despite their name being unheard of in this city. They have tried twice to get business going here in this city and failed both times. If they ever try a third time, make sure you negotiate a strong marketing budget before accepting the position."

Toi Toi84 says

"I just recently had the worst customer experiences at flagstar. I'm still in shock. I was in the process of buying a home, the lender had been mainly only communicating with me via email and very short at that. I paid for the appraisal and heard nothing back for a little over a week. Then I got a text from the lender saying it appraised for 25k less than the listing price. That's all I got. Not a call saying the loan is stopped, etc. I then found out from my realtor and the seller's agent that the appraiser tried to schedule a SAME DAY appt. and was already on his way to the property when he inquired about how to schedule the appt. Somehow he got into an altercation with the seller's agent and the police were called. The home had just appraised 2 months prior for the asking price but things didn't work out with the the person's loan who was about to buy it before me, which is why it was back on the market. The seller's agent reported the appraiser right away when things happened for fear of him underappraising the home. The loan officer told my realtor that he was sure another appraisal could be done due to the situation. But then a few days later he turned around and told her it was nothing that could be done...mind you, he never contacted me until I sent an email expressing my frustration. He will not even try to see if I can get a refund. I contacted the manager, twice now, still haven't heard anything. I can't believe they think this is ethical and that they won't even give me at least half of the $525 back! Based on the simple fact that there was an altercation, they should have ordered another appraiser to go out to the home with a properly scheduled appt. so that there's no room for bias, pettiness, etc. Please stay away from the flagstar in Troy, Michigan. I'm not sure if all of them operate this way and are this unprofessional. This is unacceptable."