Flagstar Bancorp, Inc. operates as the holding company for Flagstar Bank, FSB that provides a range of banking products and services. The company’s segments include Mortgage Originations, Mortgage Servicing, and Community Banking. Mortgage Originations This segment originates, acquires and sells one-to-four family residential mortgage loans. All of the residential mortgage loans it sells are delivered into the secondary market on a whole loan basis or securitizing the loans into mortgage-backed securities with the agencies. The company primarily originates or purchases residential mortgage loans throughout the country and sell them into securitization pools, primarily to Federal National Mortgage Association (Fannie Mae), Federal Home Loan Mortgage Corporation (Freddie Mac) and the Government National Mortgage Association (Ginnie Mae) (collectively, the Agencies) or as whole loans. In addition, it originates or purchases residential first mortgage loans, consumer loans, commercial loans and warehouse loans included in held-for-investment loan portfolios. The company’s revenues include net interest income, income from banking services it provides customers, and noninterest income from sales of residential first mortgage loans to the Agencies, the servicing of loans for others and the sale of servicing rights related to mortgage loans serviced for others. The combination of the company’s home lending, broker and correspondent channels gives it broad access to customers across geographies to originate, fulfill, sell and service its residential mortgage loan products. As of December 31, 2015, the company originated or purchased residential mortgage loans in all 50 states, the U.S. Virgin Islands, and the District of Columbia through relationships with approximately 514 mortgage brokers and approximately 679 correspondents. As of December 31, 2015, the company also operated 10 retail centers located in 9 states, which primarily originate one-to-four family residential mortgage loans as part of its Mortgage Originations segment. In addition, the company originates other consumer and commercial loans through its Community Banking segment. Mortgage Servicing This segment services and sub-services mortgage loans on a fee basis for others, and it services residential mortgages held-for-investment for its own portfolio. Lending Activities The company’s principal lending activities consist of the origination of residential first mortgage, second mortgage, home equity line of credit (HELOC) and commercial loans generally located within its primary market and service areas. Residential First Mortgage Loans: The company originates conforming and non-conforming residential first mortgage loans that are generally made to consumers for the purchase or refinance of a residence. These loans are generally financed approximately a 15-year to 30-year term and, in most cases, are extended to borrowers to finance their primary residence. Applications are underwritten centrally using credit policies and processes. Second Mortgage Loans: The majority of second mortgages the company originates are closed in conjunction with the closing of the residential first mortgages originated by it. The company generally requires the same levels of documentation and ratios as with its residential first mortgages. HELOC loans: HELOCs, which are secured by a first-lien or junior-lien on the borrower’s residence, allow customers to borrow against the equity in their homes or refinance existing mortgage debt. Applications are underwritten centrally in conjunction with an automated underwriting system. Commercial loans: Commercial loans include commercial and industrial, commercial real estate and warehouse loans. Commercial and industrial loans are made to commercial customers involved in a range of industries for use in normal business operations to finance working capital needs, equipment purchases and other capital investments. The company’s commercial and industrial customers are involved in financial, insurance, service, manufacturing, and distribution. Commercial borrowers are made of up primarily of Michigan relationshi
flagstar bancorp inc
(FBC:New York Consolidated)
5151 Corporate Drive
Troy, MI 48098
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