Flagstar’s presence and expertise in the third-party wholesale mortgage origination market have combined to create a history of success extending over 35 years. The company’s close partnerships with mortgage brokers and correspondents transforms feedback into impactful products, technology and services that help clients grow their businesses in any economic environment.
Business partners that work with Flagstar see its one-stop-shop business model as a convenient and complementary platform and a catalyst to growing their own businesses. Flagstar offers a broad product set including agency, non-agency, construction products and HELOCs. It also provides subservicing, mortgage finance, i.e., warehouse, MSR and servicing advance lending, as well as cash and treasury management services.
“We understand that mortgage brokers have choices,” said John Gibson, senior vice president of Third-Party Origination Lending at Flagstar. “Our multichannel business model revolves around brokers’ best interests and allows us to work with them to support their own objectives.”
Flagstar’s partners benefit from its dedicated, hands-on, experienced account executives — who have an average tenure of 12-plus years — and direct access to Flagstar’s sales support operations team, including underwriting. That’s made Flagstar a true partner to the 3,600 clients the bank has served in its 35-plus year history.
The company also invests in its partners by offering training, marketing services, lead generation, and advice and expertise to help them build their business for long-term success. These services include the Flagstar FLEX educational series, white-label marketing materials for clients to brand and market their own business and a mortgage trigger lead pass-back program. Flagstar also shares product-specific advice and expertise in VA and FHA lending with its clients.
Flagstar’s recent merger with New York Community Bank and the acquisition of certain assets and deposits from Signature Bank have created a $110-plus billion bank with the depth, the breadth and the power its business partners need to navigate today’s challenging economic environment.
“Flagstar has the capital, liquidity and earnings to offer our clients the stability and optionality the mortgage business demands,” added Lee Smith, senior executive vice president and president of Mortgage at Flagstar. “We’ve responded to current economic conditions by broadening our product set and improving our technology to make it easier to do business with us while further enhancing our one-stop-shop mortgage business model. We want to make it easy for our customers, and it’s on us to ensure our partners are poised to succeed.”
Despite today’s challenges, Flagstar sees opportunities for wholesale lending in the future and will continue to innovate to support its partners. “We believe our brokers are essential to the home buying process, and our team is working tirelessly to offer the products they need to win,” Smith said. “A smaller mortgage market likely means further consolidation, but the strong will survive and come out better positioned on the other side.”
