Items Tagged with 'Flagstar Bank'


Bank reaches $37.5M settlement

September 30, 2014
A Michigan bank with a large regional presence has reached a $37.5-million settlement with the federal Consumer Financial Protection Bureau. Read More

Bank lays off 600 employees

January 16, 2014
A statewide bank said Thursday that it has laid off approximately 600 employees — many of them tied to the mortgage industry. Read More

Bank reaches $10.8M settlement with Freddie Mac

December 31, 2013
A statewide bank has reached a settlement with Freddie Mac over mortgage repurchase obligations regarding mortgages it had sold, but did not live up to expectations — similar to a settlement of “legacy issues” the bank reached with Fannie Mae in November. Read More

Bank sells servicing rights on $40.7B in mortgages

December 27, 2013
A bank holding company with a large regional presence has agreed to sell more than half of its mortgage servicing rights portfolio to the subsidiary of a New York investment corporation. Read More

Bank settles class action lawsuit over 401(k) investments for $3M

September 4, 2013
Two East Coast law firms have announced a $3 million preliminary settlement in a class action lawsuit charging a Michigan-based bank with violation of the federal Employee Retirement Income Security Act. Read More

Independent and Flagstar banks bookend nation's top mortgage lenders

July 4, 2013
Ionia-based Independent Bank and Flagstar Bank rank among the nation's top mortgage lenders in 2012. Read More

Flagstar settles mortgage flap with Assured Guaranty Ltd.

June 26, 2013
Flagstar Bancorp Inc. of Troy has agreed to pay Assured Guaranty Ltd. $105 million to settle a lawsuit filed by the Bermuda bond insurer, which accused the bank of misrepresenting the quality of loans within $902 million worth of home mortgage-backed securities issued in 2005 and 2006. Read More

Flagstar and Independent year-end results back in black

February 4, 2013
Flagstar Bancorp (NYSE: FBC) in Troy and Independent Bank (Nasdaq: IBCP) in Ionia both have much better news for their stockholders in the new year: They made money in 2012, unlike the prior year. Read More

Flagstar Bancorp meets NYSE listing requirement

November 27, 2012
Flagstar Bancorp Inc. (NYSE: FBC) announced today that it has received notice from the New York Stock Exchange that it is once again in compliance with the NYSE’s continued listing requirement of a minimum average closing price of $1 per share over a consecutive 30-trading-day period. Read More

GR native named to head Flagstar Bank

Michael J. Tierney takes over as CEO Nov. 1; banks becomes profitable.

October 29, 2012
Michael J. Tierney, a Grand Rapids native with more than 33 years of banking experience throughout the Midwest, will take over as CEO of both Flagstar Bank and its holding company, Flagstar Bancorp Inc. of Troy, on Nov. 1. He has served as president of both since Oct. 1. Read More