Flagstar Bank Expands Its Home Lending Channel

Flagstar Bancorp has announced that it has named Flagstar First Vice President Don Bleuenstein (pictured left) to the position of Home Lending Eastern U.S. Division sales director. Additionally, Jens Lovell (pictured right) 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."