TROY, Mich., June 22, 2015 /PRNewswire/ -- Flagstar Bancorp, Inc. (NYSE: FBC), today announced that Leonard Israel has joined Flagstar Bank as president of Mortgage. In this position, Israel will report to Flagstar President and CEO Alessandro DiNello and be responsible for all aspects of Flagstar's mortgage originations business. He brings to Flagstar nearly 30 years of experience in the mortgage industry.
"We're fortunate to have someone with Len's extensive mortgage industry experience join Flagstar," DiNello said. "His background and skills will be invaluable as we grow our correspondent, wholesale, and retail channels and become an even bigger player in the mortgage space."
Israel's breadth of experience includes correspondent, wholesale, and retail production; secondary marketing; and warehouse lending. He is a seasoned executive with a deep and varied background ranging from risk management and process improvement, to operations and compliance. He has managed national sales forces, led business transformations, and achieved significant increases in market share.
He has held leadership positions at a number of mortgage providers, including serving as executive vice president and regional CEO at IndyMac Bank, FSB. He also was senior vice president and national director of correspondent lending at CitiMortgage.
He began his career at Mission Hills Mortgage Corporation and most recently served as director of CRE term lending at Sabal Financial Group, an international diversified financial services firm.
He holds a B.A. degree in business administration from California State University, and an M.A. degree in psychology from Pepperdine University.
Flagstar Bancorp, Inc. (NYSE: FBC) is a $11.6 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 107 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 16 retail centers in 11 states. Flagstar is the ninth largest national originator of mortgage loans and a top 20 mortgage servicer, handling payments and recordkeeping for over $75 billion of home loans for nearly 385,000 borrowers. For more information, please visit flagstar.com.
For more information contact:
SOURCE Flagstar Bancorp, Inc.