Flagstar Bank Names New Team to Lead Expansion of Home Lending Channel

New hires, new offices strengthen position in housing finance space

Feb 24, 2016, 10:21 ET from Flagstar Bancorp, Inc.

TROY, Mich., Feb. 24, 2016 /PRNewswire/ -- Flagstar Bancorp, Inc. (NYSE: FBC) announced it has named Flagstar first vice president, Don Bleuenstein, to the position of Home Lending Eastern U.S. Division sales director. Additionally, Jens Lovell has joined Flagstar from BBVA Compass Bank as Flagstar's Home Lending Western U.S. Division sales director.

In his new role, Bleuenstein is focusing on expanding Flagstar's retail mortgage footprint throughout the eastern states, while Lovell will lead the company's retail production drive throughout the western states.

As part of its expansion, Flagstar has opened 12 new home loan centers in 10 states, bringing the total in its two regions to 26 retail home loan centers in 19 states, with more in the pipeline.

"It's been part of our business plan to meaningfully expand our retail originations channel as an enhancement to our market-leading third party origination platform," said Alessandro DiNello, president and CEO of Flagstar Bank.  "That's now happening with new leadership of our production team and the broadening of our retail geographic footprint." He added that the timing is favorable as Flagstar is now focusing on the purchase market.  

"We are pleased to welcome Jens Lovell to our team who, together with Don Bleuenstein, will provide proven leadership to our emerging retail platform, which is now favorably positioned for nationwide expansion," said Len Israel, president of Mortgage Banking for Flagstar. "It's a testament to Flagstar's reputation in the industry that we are able to attract and retain successful retail talent nationally."

About Flagstar  

Flagstar Bancorp, Inc. (NYSE: FBC) is a $13.7 billion savings and loan holding company headquartered in Troy, Mich. Flagstar Bank, FSB, the largest bank headquartered in Michigan, provides commercial, small business, and consumer banking services through 99 branches in the state. It also provides home loans through a wholesale network of brokers and correspondents in all 50 states, as well as through 26 retail home loan centers in 19 states. Flagstar is the 10th largest national originator of mortgage loans and a top 20 mortgage servicer, handling payments and record keeping for over $72.5 billion home loans for over 360,000 borrowers. For more information, please visit flagstar.com.

For more information contact:

Susan Bergesen Flagstar Bank (248) 312-6237     



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SOURCE Flagstar Bancorp, Inc.