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 or purchases residential mortgage loans throughout the country and sells them into securitization pools, to the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Government National Mortgage Association (Ginnie Mae) (collectively, the Agencies) or as whole loans. The majority of the company’s total loan originations during the year ended December 31, 2014, represented mortgage loans that were collateralized by residential mortgages on single-family residences and were eligible for sale to the Agencies. The company’s revenue primarily consists of net gain on loan sales, loan fees and charges and interest income from residential mortgage loans held-for-sale. As of December 31, 2014, the company originated residential mortgage loans through its wholesale relationships with approximately 600 mortgage brokers and approximately 750 correspondents, which were located in all 50 states. As of December 31, 2014, the company also operated 16 home loan centers located in 13 states, which primarily originate one-to-four family residential mortgage loans as part of its Mortgage Originations segment. The company also originates mortgage loans through referrals from its banking centers, consumer direct call center and its Website, www.flagstar.com. Mortgage Originations This segment’s activities primarily consist of 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. These activities are performed on a fee basis for third party mortgage servicing rights holders, residential mortgages held for investment by the Community Banking segment and mortgage servicing rights held by the Other segment. The company’s revenue primarily consists of loan administration income and net interest income from residential mortgage loans held-for-sale. Community Banking This segment’s revenues include net interest income and fee-based income from community banking services, including a national warehouse lending business. As of December 31, 2014, the company operated 107 banking centers in Michigan (of which 8 were located in third-party retail stores). Of the 107 banking centers, 71 facilities are owned and 36 facilities are leased. Through its banking centers, the company gathers deposits and offers a line of consumer and commercial financial products and services to individuals and businesses. Investment Securities As of December 31, 2014, the company’s investment portfolio included U.S. government sponsored agencies and municipal obligations. Deposits Through its banking centers, the company gathers deposits and offers a line of consumer and commercial financial products and services to individuals, local municipalities and businesses. Regulation and Supervision The company is subject to regulation, examination and supervision by the Board of Governors of the Federal Reserve (the Federal Reserve), the Office of the Comptroller of the Currency (OCC) of the U.S. Department of the Treasury (U.S. Treasury), and the Federal Deposit Insurance Corporation (FDIC). The bank's deposits are insured by the FDIC through the Deposit Insurance Fund. The bank is subject to regulatory capital rules based on the framework established by the 1988 capital accord (Basel I) of the Basel Committee on Banking Supervision. Savings and loan holding companies are not subject to the Basel I capital requirements. In 2013, the OCC and Federal Reserve adopted a final rule (Basel III) that replaces their existing risk-based and leverage capital rules. Effective January 1, 2015, the bank and the company are subject to the capital requirements of the Basel III rules. The company is subject to the Supervisory Agreement, dated January 27, 2010. The bank is required to meet a Qualified Thrift Lender test. The company is subject to the affiliate and insider transaction rules applicable to member banks of the Federal Reserve as well as additional limitations imposed by the OCC. The bank is subject to many federal consumer protection statutes and regulations, the examination and enforcement of which has become more pronounced since the passage of the Dodd-Frank Act and the creation of the Consumer Financial Protection Bureau. The bank has established policies and procedures intended to fully comply with the PATRIOT Act’s provisions, the Bank Secrecy Act, as well as other aspects of anti-money laundering legislation. History Flagstar Bancorp, Inc. was founded in 1987.
flagstar bancorp inc (FL2P:Frankfurt)
5151 Corporate Drive
Troy, MI 48098
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