flagstar bancorp inc (FL2P:Frankfurt)
flagstar bancorp inc (FL2P) Snapshot
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Open
€10.90
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Previous Close
€10.75
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Day High
€10.91
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Day Low
€10.90
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52 Week High
01/3/13 - €15.53
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52 Week Low
10/11/12 - €0.88
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Market Cap
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Average Volume 10 Days
0.0
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EPS TTM
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Shares Outstanding
0.0
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EX-Date
02/19/08
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P/E TM
--
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Dividend
--
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Dividend Yield
--
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flagstar bancorp inc (FL2P) Latest News
flagstar bancorp inc (FL2P) Related Businessweek News
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Flagstar Bancorp, Inc. operates as the holding company for Flagstar Bank, FSB that offers various financial products and services to consumers, businesses, and homeowners in the Unites States. The company’s Mortgage Banking segment originates, acquires, sells, and services mortgage loans through home lending centers, national call centers, Internet, unaffiliated banks, and mortgage brokerage companies. Its products include one-to-four family residential first mortgage loans, adjustable-rate mortgage loans, interest only mortgages, second mortgage loans, and home equity lines of credit loans. This segment also services mortgage loans for others and sells MSRs into the secondary market. Its Community Banking segment originates a range of loans and deposits to individuals, small and middle market businesses, and mortgage lenders. Its products comprise checking accounts, savings accounts, money market accounts, and certificates of deposit; consumer loans; warehouse lines of credit; and commercial real estate loans, commercial and industrial loans, and commercial lease financing loans. This segment also provides other financial services to consumer and commercial customers comprising lines of credit, revolving credit, customized treasury management solutions, equipment and technology leasing, inventory and accounts receivable lending, and international services, as well as capital markets services, such as interest rate risk protection products, foreign exchange hedging, and trading of securities. The company also offers telephone banking services; government banking products; and treasury management services, such as remote deposit and merchant services. As of December 31, 2012, it operated through a regional office in Jackson, Michigan; 111 banking centers in Michigan; 31 home lending centers in 14 states; and 10 wholesale lending offices. The company was founded in 1987 and is headquartered in Troy, Michigan.
flagstar bancorp inc (FL2P) Top Compensated Officers
flagstar bancorp inc (FL2P) Key Developments
Flagstar Bancorp Inc. announced that boards of directors have appointed Alessandro ("Sandro") DiNello to serve as President and Chief Executive Officer of the company, effective immediately. Upon becoming CEO, Mr. DiNello will replace Michael Tierney as a director of the company. Sandro has served as executive vice president of Flagstar since 2003, most recently in Personal Financial Services.
Flagstar Bancorp Inc. in Troy, Mich., will pay $110 million to settle allegations that it misrepresented the quality of more than $1 billion of private label mortgage-backed securities it sold to investors. The settlement ends a suit that MBIA Insurance Corporation brought in January, alleging that Flagstar lied about the quality of loans backing $1.1 billion of securities that MBIA insured in 2006 and 2007. MBIA had to pay $165 million to cover losses the two securities trusts suffered. The announcement came shortly after a federal judge ordered it to pay $90 million to bond insurer Assured Guaranty Municipal Corp. over allegations it misled the insurer over the quality of loans backing $1 billion of securities. Flagstar disagrees with the ruling and intends to appeal.
Flagstar Bancorp Inc. announced that the Bank has entered into an agreement to settle the previously disclosed lawsuit which was filed by MBIA Insurance Corporation on January 11, 2013. The lawsuit relates to approximately $1.1 billion of non-agency securitization transactions in 2006 and 2007 involving fixed and adjustable rate second mortgage loans that MBIA insures. Under the terms of the Settlement Agreement, MBIA will terminate its pending lawsuit against Flagstar and in exchange, among other consideration and transaction provisions, Flagstar will pay MBIA $110.0 million. Given the level of its current reserve for pending and threatened litigation, Flagstar does not expect any significant financial impact as a result of the Settlement Agreement.
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Industry Analysis
FL2P
Industry Average
| Valuation | FL2P | Industry Range |
| Price/Earnings | 10.0x |
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| Price/Sales | 0.7x |
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| Price/Book | 0.9x |
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| Price/Cash Flow | 8.0x |
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| TEV/Sales | NM | Not Meaningful |
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