Flagstar Bancorp announces mass layoff

TROY, Mich., Jan. 30, 2019 /PRNewswire/ — Flagstar Bancorp, Inc. (FBC), the holding company for Flagstar Bank, FSB, today announced its Board of Directors has approved both the initiation of a.

 · TROY, Mich., Jan. 30, 2019 /PRNewswire/ — Flagstar Bancorp, Inc. (FBC), the holding company for Flagstar Bank, FSB, today announced its Board of.

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Flagstar Bancorp (NYSE: FBC) announced plans to outsource the servicing of defaulted mortgages, a move that could result in the layoff of up to 300 employees. The Troy-based bank said it expects to hire a subservicer, which it didn’t name, to handle the serving operations.

Flagstar Bancorp, Inc. operates as the holding company for Flagstar Bank, a federally chartered stock savings bank. It is the largest publicly traded savings bank in Michigan with assets of over $16 billion in 2016.

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TROY, Mich., Sept. 6, 2017 /PRNewswire/ — Flagstar Bank announced it has established the Flagstar Foundation to focus its charitable giving on specific areas that align with the bank’s community.

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Siefers named Flagstar as his, saying it was undervalued and praising the $130.4 million in settlements the bank had recently announced of buy-back requests from Fannie Mae and Freddie Mac over.

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