Thrifts and Mortgage Finance
Company Overview of Flagstar Bank, FSB
Flagstar Bank, FSB operates as a federal savings bank. The bank’s deposit products include checking, money market, savings, and individual retirement accounts, as well as certificates of deposit. The bank’s loan products portfolio comprises personal auto, boat, motorcycle, home improvement, recreational vehicle, and snowmobile loans, as well as home equity line of credit; and various mortgage options for home purchases and mortgage refinancing. Flagstar Bank, FSB also offers credit, investment, and treasury management products; certificate of deposit account registry services; and online banking services. The bank offers home loans through retail offices, wholesale agents, and phone, as well...
5151 Corporate Drive
Troy, MI 48098
Founded in 1987
Key Executives for Flagstar Bank, FSB
President of Mortgage Banking Division
Interim Chief Legal Officer and Interim Chief Legal Officer of Flagstar Bancorp
Compensation as of Fiscal Year 2013.
Flagstar Bank, FSB Key Developments
Flagstar Bank, FSB Announces Resignation of Michael Tierney as Executive Vice-President of Personal Financial Services
Jan 10 14
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
Jun 21 13
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.
Flagstar Bank FSB Appoints Sean Becketti as Senior Vice President and Head of Modeling and Analytics in Enterprise Risk
Jun 17 13
Flagstar Bancorp Inc. unit Flagstar Bank FSB has appointed Sean Becketti as senior vice president and head of modeling and analytics in enterprise risk management. Prior to joining the Troy, Becketti served as vice president and head of applied research for Fannie Mae, according to the publication.
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