September 18, 2014 5:45 AM ET

Banks

Company Overview of Flagstar Bank, FSB

Company Overview

Flagstar Bank, FSB is a federal savings bank that provides personal and business banking services for individuals and businesses. Its personal banking services include checking accounts, savings accounts, money market accounts, certificates of deposit, and online and mobile banking; home loans, adjustable rate mortgages, jumbo mortgages, federal housing administration mortgages, refinance, home affordable refinance program refinance, personal loans, home equity lines of credit, home equity loans, and credit cards; and traditional IRAs, Roth IRAs, and educational savings accounts. The company’s business banking services include business checking accounts, remote deposits, money market account...

5151 Corporate Drive

Troy, MI 48098

United States

Founded in 1987

Phone:

248-312-2000

Fax:

248-312-6834

Key Executives for Flagstar Bank, FSB

Chief Executive Officer
Age: 59
Chief Financial Officer
Age: 53
Chief Operating Officer
Age: 39
President of Mortgage Banking Division
Age: 59
Interim Chief Legal Officer and Interim Chief Legal Officer of Flagstar Bancorp
Age: 46
Compensation as of Fiscal Year 2014.

Flagstar Bank, FSB Key Developments

Flagstar Bank FSB Names Stephen Figliuolo as Chief Risk Officer

Flagstar Bancorp Inc. announced that Flagstar Bank FSB appointed Stephen Figliuolo to serve as chief risk officer. Figliuolo will be responsible for managing the office of enterprise risk management, which oversees credit risk, operations risk, modeling and analytics, mortgage risk and loan review operations.

Flagstar Bank, FSB Announces Resignation of Michael Tierney as Executive Vice-President of Personal Financial Services

Michael Tierney, Executive Vice-President of Personal Financial Services at Flagstar Bank, FSB has announced his intention to resign from Flagstar Bank effective January 31, 2014. Mr. Tierney was previously Chief Executive Officer of the company.

Assured Guaranty Ltd. to Receive $105 Million Cash Payment and Full Reimbursement of Future RMBS Claims in Settlement with Flagstar Bank

Assured Guaranty Ltd. announced that Assured Guaranty and Flagstar Bank have entered into a Settlement Agreement concerning Assured Guaranty's litigation against Flagstar Bank for breaches of representations and warranties in insured residential mortgage-backed securities. The agreement follows the February 5, 2013 decision by Judge Rakoff of the United States District Court for the Southern District of New York in favor of Assured Guaranty. As part of the settlement, Assured Guaranty will receive a cash payment of $105 million. Flagstar will also reimburse Assured Guaranty in full for all future claims on the Assured Guaranty insurance policies. Additionally, Flagstar will not appeal Judge Rakoff's decision. The comprehensive settlement resolves all RMBS claims that the Company has asserted against Flagstar and releases both parties from any and all other future RMBS-related claims between the parties.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
December 18, 2013
Flagstar Bank, FSB, Bulk Pool of Mortgage Servicing Rights
 

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