August 26, 2016 1:38 PM ET

Thrifts and Mortgage Finance

Company Overview of Flagstar Bank, FSB

Company Overview

Flagstar Bank, FSB provides banking products and services to individuals and businesses in Michigan. It offers personal banking products and services, such as checking accounts, certificates of deposit, certificate of deposit account registry service, savings accounts, money market accounts, and IRAs; loans, including loans to purchase new home, refinancing solutions, personal loans, home equity solutions, mortgages, and credit cards; and investment accounts, including traditional and Roth IRA, educational accounts, and health savings accounts. The company provides business banking products and services, including checking, treasury management, government banking, and merchant services; busi...

5151 Corporate Drive

Troy, MI 48098-2639

United States

Founded in 1987

Phone:

248-312-5400

Fax:

248-312-6704

Key Executives for Flagstar Bank, FSB

Chief Executive Officer, President, Director, Chief Executive Officer of Flagstar Bancorp, Inc and Director of Flagstar Bancorp, Inc
Age: 61
Chief Financial Officer and Executive Vice President
Age: 50
Chief Operating Officer
Age: 41
President of Mortgage Banking Division
Age: 61
President for Mortgage Banking
Age: 57
Compensation as of Fiscal Year 2016.

Flagstar Bank, FSB Key Developments

Flagstar Bank Hires Leonard Israel as President for Mortgage Operations

Flagstar Bank has announced that it has hired a president for its mortgage operations. Leonard Israel has been hired to the position and he will report to Flagstar Bank president and CEO, Alessandro DiNello. He will be responsible for all aspects of the bank's mortgage originations business. He has close to 30 years of experience in the mortgage industry.

Flagstar Bancorp Inc. and Flagstar Bank, FSB Announce the Resignation of Michael C. Flynn as Executive Vice President and Chief Legal Officer, Effective June 30, 2015

On June 18, 2015, Michael C. Flynn announced his intention to resign as Executive Vice P resident and Chief Legal Officer of Flagstar Bancorp Inc. and its wholly-owned subsidiary, Flagstar Bank, FSB, effective June 30, 2015.

Flagstar Bank Announces Settlement with Consumer Financial Protection Bureau

Flagstar Bank, FSB announced that it has entered into a settlement agreement with the Consumer Financial Protection Bureau (CFPB). The settlement relates to alleged violations of federal consumer financial laws arising from the Bank's loss mitigation practices and default servicing operations dating back to 2011. Under the terms of the settlement agreement, the Bank will pay $27.5 million to the CFPB for borrower remediation, and $10 million in civil monetary penalties. The settlement does not involve any admission of wrongdoing on the part of the Company or its employees, directors, officers or agents.

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