Flagstar Bancorp, Inc. operates as the holding company for Flagstar Bank, FSB that provides a range of banking products and services. Segments The company’s segments include Mortgage Banking and Community Banking. Mortgage Banking This segment originates, acquires, sells, and services one-to-four family residential first mortgage loans throughout the country and sells them into securitization pools, primarily to Fannie Mae, Federal Home Loan Mortgage Corporation, and Government National Mortgage Association or as whole loans. As of December 31, 2013, the company originated residential first mortgage loans through its wholesale relationships with approximately 1,100 mortgage brokers and approximately 1,000 correspondents, which were located in all 50 states. It also operated 39 home loan centers located in 19 states, which primarily originate one-to-four family residential first mortgage loans as part of its Mortgage Banking segment. The company also originates mortgage loans through referrals from its banking centers, consumer direct call center and its Website, www.flagstar.com. The combination of the company’s home lending, broker and correspondent channels gives the company access to customers across various geographies to originate, fulfill, sell, and service its residential first mortgage loan products. The company’s servicing activities primarily include collecting cash for principal, interest and escrow payments from borrowers, assisting homeowners through loss mitigation activities, and accounting for and remitting principal and interest payments to mortgage-backed securities investors and escrow payments to third parties. Community Banking This segment’s business includes providing community banking services. As of December 31, 2013, the company operated 111 banking centers in Michigan (of which 12 were located in retail stores). Of the 111 banking centers, 68 facilities were owned and 43 facilities were leased. The company, through its banking centers, gathers deposits and offers a line of consumer and commercial financial products and services to individuals and businesses. The company provides deposit and cash management services to governmental units on a relationship basis. This segment consists primarily of three groups: Branch Banking, Commercial and Business Banking, and Warehouse Lending. The groups within this segment originate consumer loans, commercial loans and warehouse loans, gather consumer, business and governmental deposits, offer investment and insurance services and offer liquidity management products. The liquidity management products include customized treasury management solutions; equipment and technology leasing; international services; capital markets services, such as interest rate risk protection products; foreign exchange hedging; and trading of securities. Commercial and Business Banking includes relationship and portfolio managers throughout Michigan's major markets. Warehouse Lending offers lines of credit to other mortgage lenders, allowing those lenders to fund the closing of residential first mortgage loans. This segment also cross-sells primary products, such as checking accounts, savings accounts, investment products, and consumer loans, to new and existing customers. Commercial and Industrial Loans: Commercial and industrial held-for-investment loan facilities include lines of credit and term loans to small or middle market businesses for use in normal business operations to finance working capital needs, equipment purchases, and expansion projects. Warehouse Lending: The company also continues to offer warehouse lines of credit to other mortgage lenders. These allow the lender to fund the closing of residential first mortgage loans. Investment Securities As of December 31, 2013, the company’s investment portfolio included U.S. government sponsored agencies and municipal obligations. Deposits The company, through its banking centers, gathers deposits and offers a line of consumer and commercial financial products and services to individuals and businesses. It continues to focus its efforts towards the growth of its core deposits, which includes checking, savings, and money market deposit accounts. Regulation and Supervision As a savings and loan holding company, the company is subject to regulation, examination, and supervision by the Board of Governors of the Federal Reserve. The company is registered as a savings and loan holding company under the Home Owners Loan Act. The bank is subject to regulation, examination and supervision by the Office of the Comptroller of the Currency of the U.S. Department of the Treasury. The bank is also subject to regulation, examination and supervision by the Federal Deposit Insurance Corporation (FDIC) and the bank's deposits are insured by the FDIC through the Deposit Insurance Fund. The bank is also subject to the rule-making, supervision and examination authority of the Consumer Financial Protection Bureau, which is responsible for enforcing the principal federal consumer protection laws. The bank is a member of the Federal Home Loan Bank of Indianapolis. The bank is required to meet a Qualified Thrift Lender test to avoid certain restrictions on operations, including the activities restrictions applicable to multiple savings and loan holding companies, restrictions on the ability to branch interstate, and its mandatory registration as a bank holding company under the Bank Holding Company Act of 1956. In addition, the bank is subject to regulatory guidelines establishing standards for safeguarding customer information. These regulations implement certain provisions of the Gramm-Leach Bliley Act. The bank has established policies and procedures intended to fully comply with the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001’s provisions; the Bank Secrecy Act; and other aspects of anti-money laundering legislation. History Flagstar Bancorp, Inc. was founded in 1987.
flagstar bancorp inc (FBC:New York)
5151 Corporate Drive
Troy, MI 48098
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