The mortgage business is in Flagstar Bank’s DNA. The bank began working with brokers more than 30 years ago and soon expanded into correspondent lending, all while staying focused on helping its partners be successful.
As a well-capitalized federal savings bank, Flagstar is able to offer its partners and clients stability and transparency that provides peace of mind.
Today, the bank is building out its technology, service and product infrastructure to have the best-in-class offerings for its clients.
“Our focus is – and always has been – helping brokers grow their business,” said Kristy Fercho, president of mortgage at Flagstar. “Many of our clients started as small mom-and-pop shops and have since grown to large, successful bankers. We have excelled at making this happen and are proud of that.”
A priority for Flagstar is enhancing the technology it offers its broker partners by giving them more control of the process and making it easier for them to conduct their business.
Recently, the bank rolled out DIY disclosures and improved its accelerated broker closing program. Both initiatives give brokers more control over the loan process.
Flagstar has also invested in platforms like AIME ARIVE and Calyx All-In to provide brokers more options to conduct their business.
“Our platform is scalable; brokers can work with us the way that works best for them,” said John Gibson, national sales director at Flagstar. “The motto we live and build our business plan around is ‘fewest clicks to close’ because we understand that our brokers’ time is valuable.”
Brokers who work with Flagstar appreciate its experienced, knowledgeable account executives, who average at least 10 years with Flagstar and more than 20 years of industry experience. And they’re backed up by an equally strong support staff.
Flagstar’s dedicated team of account executives take a consultative approach with their customers. Its AEs coach brokers on how to grow their business, formulate successful business strategies and build strong, lasting relationships.
Flagstar also offers its brokers exclusive training and support opportunities. These include webinars with guidance from industry experts, discounts on continued education and a trigger lead pass-back program.
Because Flagstar has been in the mortgage business for over three decades, it has experience managing through all economic scenarios. This stability is a unique benefit Flagstar can extend to the broker community.
“We are here to help brokers navigate through these challenging times, just like we were in 2008 and 2012,” Gibson said. “Brokers recognize that we are with them for the long haul. We’re invested in the success of each of our broker customers, and they are at the heart of every business decision we make.”
Kristy Fercho, President of Mortgage at Flagstar
Kristy Fercho joined Flagstar Bank in 2017 as executive vice president and president of mortgage. In this capacity, she is responsible for the direction and oversight of all aspects of mortgage and secondary marketing for Flagstar and for the continued expansion of Flagstar’s mortgage business. Flagstar is the nation’s sixth largest bank mortgage originator.
John Gibson, Senior Vice President and National Sales Director of Wholesale and TPO Lending
John Gibson is responsible for the strategic direction, growth and profitability of Flagstar’s broker and correspondent channels. He has 26 years of experience in the mortgage industry, most recently with Caliber Home Loans, Inc., where he spent eight years and ultimately led wholesale mortgage production. Gibson joined Flagstar Bank in October 2019.
