Lee M. Smith has been named to lead Flagstar Bank’s mortgage business. Flagstar Bank’s headquarters are located in Troy.
In his new role as president of Mortgage, Smith is responsible for maintaining the direction and oversight of all business aspects including mortgage sales, originations, servicing, fulfillment, and the overall strategic growth of the mortgage and servicing business units.
“Lee has worked side by side with me since day one of my job as CEO,” says Alessandro DiNello, president and CEO of Flagstar. “No one has been more instrumental than Lee in building the diversified business model that has brought us so much success. We’re now at an inflection point as a company where we can direct his skills to running one of our major businesses – a business he helped build and knows top to bottom. We look for more good things to come for Flagstar’s mortgage operation with Lee at the helm.”
Upon first joining Flagstar in 2013, Smith served as executive vice president and COO. He was responsible for mortgage servicing, as well as strategy, balance sheet and cost optimization, and mergers and acquisitions. Flagstar has eliminated the role of COO with the naming of Smith to his new role.
Flagstar Bancorp is a savings and loan holding company. It providescommercial, small business, and consumer banking services through 160 branches in California, Indiana, Michigan, Ohio, and Wisconsin.