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Healthy and General

Flagstar Bank offers brokers direct access to seasoned

3 min read

The housing market has undergone a significant transformation over the past two years. While a booming market kept brokers busy in 2021, the 2022 housing market has been underscored by rising interest rates, inflation and geopolitical turbulence. In response, many brokers are relying on extra support, and Flagstar Bank offers exactly that.

With 35 years of experience in the mortgage business, Flagstar has reputation for successfully navigating the ebb and flow of an ever-changing housing market. Not only does Flagstar offer brokers direct access to seasoned sales, support and underwriting teams, it also provides a product set that includes specialty lending options like Advantage non-agency loan, jumbos, new construction, renovation products and HELOCs, and in the pipeline, loans to foreign nationals, seconds and investor property loans.

“We’re well-capitalized and committed to mortgage, particularly the broker channel. We have a broad product set, competitive pricing and great technology,” said Lee Smith, EVP and president of mortgage. “Our brokers are our partners. We treat them like family and want to help them grow their businesses and be successful.”

Moreover, Flagstar ensures that their broker partners have the tech solutions to meet their business goals. Powerful LOS technology, including DIY documents, automated alerts and third-party integrations, ensures brokers have the tools they need when they need them.

“We continue to make investments in our technology to streamline the process for our broker partners as well as integrate third-party platforms like Arive, Caylx All-In and Experience.com,” said John Gibson, SVP and national sales director of wholesale and correspondent lending.

Thanks to its multi-channel business model, Flagstar helps brokers transition to mortgage bankers, and it’s been doing that successfully for over 20 years. As the second-largest warehouse lender, Flagstar is well-positioned to introduce warehouse lines to brokers-turned-bankers. Flagstar also offers brokers the opportunity to participate in the Flagstar FLEX monthly webinar series designed to help them better their businesses.

“Our platform is scalable, and we allow brokers to work with us the way that they choose. We understand they have options, so everything we do revolves around what is in their best interest and making the process as easy as possible,” Smith noted.

Because Flagstar is a major player in the broker channel with a long-standing commitment to the space, brokers who work with Flagstar can be confident they have a partner with the expertise to help them thrive. An accelerated broker closing program and regional underwriting and closing teams are just some of the ways Flagstar’s wholesale program equips brokers with the tools they need to grow.

“Wholesale is expanding, and given our experience in this channel, we expect to be at the forefront of supporting brokers for many years to come,” Gibson said.

As the housing market remains predictably cyclical, Flagstar is dedicated to ensuring its brokers receive the best service possible.

“We’re always listening to our business partners and adjusting our offerings to meet their needs—and we’ll keep doing that as the space continues to grow,” Gibson said.

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Lee Smith: EVP, President of Mortgage

Lee Smith is responsible for the direction and oversight of all aspects of mortgage, including mortgage sales and originations, secondary and capital markets, mortgage fulfillment operations and mortgage servicing, as well as the strategic growth of Flagstar’s mortgage and servicing businesses.

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John Gibson: SVP, National Sales Director; Wholesale & Correspondent Lending

With nearly 30 years of experience in the mortgage industry, John Gibson is responsible for the strategic direction, growth and profitability of Flagstar’s broker and correspondent channels.