Items Tagged with 'Flagstar Bank'

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  • Flagstar Bank to acquire Santander Bank's mortgage warehouse loan portfolio

    The acquisition is expected to close in the first quarter of 2018
    Flagstar Bank announced Tuesday it has signed a definitive agreement to purchase a mortgage warehouse loan portfolio from Santander Bank. As part of the transaction, Flagstar will bring on Santander's existing relationship managers, adding the employees to its warehouse business, the company explained in a release.
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  • Capital One consumer direct lending team finds new home at Flagstar

    Rocky Stubbs takes team from Capital One to Flagstar
    When Capital One suddenly announced last year that it planned to exit its mortgage and home equity originations business, not much was known about what would happen to the more than 900 employees that would be laid off as a result of Capital One’s decision. Well, it turns out that a small percentage of those employees will be moving over to Flagstar Bank.
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  • Flagstar expanding in California with new acquisitions

    Buying 8 Desert Community Bank branches
    Earlier this year, the company acquired Stearns Lending’s delegated correspondent lending business and Opes Advisors, a full-service mortgage bank and financial advisory firm. The Opes Advisors acquisition positioned Flagstar to grow its lending business in the Western part of the U.S., and now, the company is making another move to grow its business on the west coast.
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  • Flagstar rolls out zero-down mortgage with closing cost aid for low-income borrowers

    Bank will also provide up to $3,500 for closing costs
    Flagstar Bank is targeting low- to moderate-income borrowers with a mortgage offer that’s seemingly too good to be true. The program, which Flagstar introduced earlier this week, requires no down payment from the borrower and also provides the borrower with closing cost assistance. Here are the details.
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  • Flagstar Bank unveils new charitable foundation

    Plans to make focused, impactful grants in its communities
    Flagstar Bank unveiled a new charitable arm, Flagstar Foundation. "Flagstar has a 30-year tradition of investing in its communities," said Beth Correa, president of the foundation. "We now want to formalize that investment through a foundation that will support our corporate goals as well as our employees' involvement in the nonprofit world."
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  • Flagstar breaks into RMBS market with “high-quality” first offering

    Closes $444 million securitization of jumbo prime, high-balance conforming loans
    Flagstar Bancorp is officially in the mortgage securitization business, as the bank announced Monday that it closed its first residential mortgage-backed securitization and said that this won’t be its last one either. According to Flagstar, the 668 underlying loans are "high-quality," a characterization is shared by Fitch Ratings, which handed out $416.06 million in triple-A ratings on the deal.
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  • Detroit Pistons pick Flagstar Bank to be first jersey ad sponsor

    Flagstar also becomes official banking and mortgage sponsor of the Pistons
    For the first time in its history, the NBA is allowing teams to place a sponsor’s logo on their jerseys. So far, a third of the league’s 30 teams have inked sponsorship deals and will have a sponsor’s logo on their jerseys, including the Boston Celtics (General Electric) and the Cleveland Cavaliers (Goodyear). On Wednesday, the Detroit Pistons became the 10th team with a jersey sponsorship, and their sponsor is one of the biggest names in the mortgage business – Flagstar Bank.
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  • From HW Magazine

    2017 Rising Stars: Ted Krus

    Director of Executive Projects at Flagstar Bank
    As director of executive projects for Flagstar Bank, Ted Krus has led the sale of more than $1 billion in high-risk, underperforming assets. This move transformed the bank’s balance sheet and resulted in the lowest level of non-performing assets in the bank's 30-year history. 
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