Bad place to work - Stay away!
Senior Loan Officer (Former Employee) – Montana – February 1, 2019
Flagstar does not care about retail, they promise the moon (lie to you) that they have big plans and all of these great programs that "no one else can do" (that is not true Wholesale can do them all and they get better rates than Retail - very frustrating!!) they promise to supply you with leads (1 in 15 months) and since no one in your state even knows who "Flagstar" is.. that's important. But then when you do get there, there is no advertising, they do not try to get the name out to the community (you do with little help from your manager) and there is simply no budget, they cant even afford to buy you a business card holder for your desk!! The management claims to be "professional" and is anything but (unreliable). The atmosphere there is one of zero trust, spying and lying, they take advantage of your experience and your contacts. If you are a Loan Officer who has any experience (at all) this is not the place for you, the compensation is very poor and don't be fooled or flattered by the (important sounding) title every Loan Officer is a "Senior Loan Officer" even the ones with absolutely ZERO experience. Management is less than professional, underwriting is ridiculously slow and closing has no idea how some states operate and don't care to understand . Management does not care about its employees they only care about how much money you can make for them. Worst place ever!! Oh yeah, that signing bonus... I encourage you to read the fine print!