Flagstar Sells DocVelocity to Capsilon

                    Flagstar Sells DocVelocity to Capsilon

DocVelocity Augments Capsilon's Sales and Support Capabilities; Capsilon to
Assume Customer Relationships

PR Newswire

TROY, Mich. and SAN FRANCISCO, Feb. 14, 2013

TROY, Mich. and SAN FRANCISCO, Feb. 14, 2013 /PRNewswire/ --Flagstar Bancorp,
Inc. (NYSE: FBC) has agreed to sell the assets and operations of DocVelocity,
its document imaging business for mortgage lenders, to Capsilon, a provider of
cloud-based document sharing, imaging and collaboration solutions for mortgage
lenders.

Capsilon developed much of the technology that DocVelocity has marketed and
sold since 2007, and which Flagstar has used to provide paperless mortgage
processing to its wholesale customers. Following the transaction, Flagstar
will continue to use the DocVelocity service.

"DocVelocity has played an important part in establishing and solidifying
Flagstar's position as a leader in paperless mortgage processing for our
customers," said Jason Dufner, senior vice president, Change Management at
Flagstar. "That's a differentiator in the marketplace that we intend to
maintain."

The sale of DocVelocity will be seamless for Flagstar customers, as they will
continue to benefit from the DocVelocity solution, staff and Flagstar's
paperless processing. Customers will deal with the same people, call the same
sales and support team, use the same application and get the same
best-in-class paperless service.

For six years, Flagstar and Capsilon have worked closely together to replace
inefficient paper-based processes in mortgage lending with an innovative
technology solution. While Capsilon has focused to date mainly on developing
and operating the technology, DocVelocity has marketed, sold and supported a
complete solution for over 100 lenders. Flagstar has a long history as a
leader in paperless mortgage processing.

Other lenders who are current DocVelocity customers will benefit from this
sale, as they will now have a direct relationship with the company that
develops and provides the technology.

"Flagstar has been a great partner for us," said Sanjeev Malaney, chief
executive officer at Capsilon. "Their vision and leadership in the mortgage
industry was key in driving adoption of our technology in the market. Our
growth has allowed us now to integrate vertically, taking responsibility for
everything from software development to sales and service. DocVelocity
customers will benefit from our focus and additional capabilities."

Terms of the transaction were not disclosed. The transaction is not expected
to have a material financial impact on Flagstar.

About Flagstar

Flagstar Bancorp, Inc. (NYSE: FBC) is the holding company for Flagstar Bank, a
full-service financial institution offering a range of products and services
to consumers, businesses and homeowners. With $14.1 billion in total assets at
December31, 2012, Flagstar is the largest bank headquartered in Michigan.
Flagstar originates loans nationwide and is one of the leading originators of
residential first mortgage loans. For more information, please visit
flagstar.com.

About Capsilon

Since 2004, San Francisco-based Capsilon has been a provider of cloud-based
document sharing, imaging and collaboration solutions, enabling companies to
complete business-critical transactions within and across organizations in
less time than they could with other alternatives. Capsilon serves numerous
market innovators including two of the 10 largest residential mortgage lenders
in the United States. For more information about Capsilon, visit
www.capsilon.com.

SOURCE Flagstar Bancorp, Inc.

Website: http://www.flagstar.com
Contact: Susan Bergesen, Flagstar Bank, +1-248-312-6237; or Kalyn Ballard,
William Mills Agency, +1-678-781-7221
 
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