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Community Involvement

Learn how we support local communities through our Community Reinvestment Act initiatives.

Supporting the communities we serve

Flagstar Bank is committed to meeting the banking and credit needs of the communities where we do business, including low- and moderate-income neighborhoods. Through our Community Reinvestment Act (CRA) initiatives, we’ve invested $50 million in community lending and community development programs that revitalize neighborhoods and make homeownership more affordable.

Our approach goes beyond simply investing, however. We work closely with local civic and nonprofit leaders and businesses to identify and establish sustainable solutions.

Other recent examples of our Community Reinvestment Act (CRA) banking initiatives:

  • Establishing programs for down payment assistance, grants, and flexible mortgage requirements
  • Closing the digital divide in Inkster, Mich., through a $1 million pledge to the Strategic Alliance Community Development Corporation
  • Building an affordable tiny home in Detroit in partnership with Cass Community Social Services
  • Supporting lending circles that break the cycle of predatory payday lenders
  • Volunteering 4,200 hours each year to build financial literacy at a local level

Expanding DEI in the appraisal industry

There is a long-standing wealth gap within the housing industry, partly due to the lack of diversity within the appraisal workforce. Currently, appraisers are disproportionately homogenous, with Black Americans composing less than 2% of all appraisers, while 4% are Hispanic or Latino and only 1% are Asian. As a result, homes in Black neighborhoods are typically valued 21%-23% lower than in non-Black neighborhoods, according to the Brookings Institute.

The Appraiser Diversity Initiative is committed to addressing the lack of diversity within the appraisal industry, reaching diverse, talented candidates and educating them on the appraisal profession by: 

  • Providing resources 
  • Offering peer mentorship for career development with Fannie Mae and Freddie Mac appraisers and ADI sponsors
  • Supporting trainee and job placement assistance 

Flagstar has committed $1 million to sponsor recruiting workshops and to support pathways to appraiser licensing through industry connections and experience, including simulations of the appraisal experience as an alternative to the traditionally supervisory appraiser-trainee model. We’re proud to support ADI as part of our continuing work for greater DEI in our company and communities.

CRA volunteer work

Flagstar is also committed to improving financial literacy in our communities. That’s why you’ll find us educating young people on the importance of saving and teaching families homebuying basics.

Through our CRA community service, Flagstar employees volunteered 4,127 hours for 227 organizations.

Here are some of the many events and organizations we support as volunteers and board members:

  • American Bankers Association: Get Smart About Credit
  • Forgotten Harvest
  • Habitat for Humanity
  • Junior Achievement
  • Money Smart Week
  • Operation Hope: Banking On Our Future
  • Opportunity Resource Center
  • Salvation Army
  • Tax foreclosure assistance
  • Whaley Children's Center

Our Community Lending and Home Loan Programs page provides additional information about specialty and CRA mortgage programs, grants, and down payment assistance. For more information about Flagstar’s community support, visit Community Initiatives.

Flagstar Bank’s Community Reinvestment Act team

Beverly Meek

Beverly Meek

First Vice President, CRA Director

Beverly Meek has an extensive background in banking, spanning more than 25 years and holding several positions within her tenure in the industry. She has a broad knowledge of philanthropy, CRA compliance, and CRA investments, as well as community and economic development programs and initiatives. Most notably is her experience in implementing the Community Reinvestment Act, a federal regulation that encourages financial institutions to help meet the credit needs of individuals and communities with low to moderate incomes.

[email protected]

Beverly Meek

Brandon Lewis

Vice President, Senior CRA Compliance Specialist

Brandon Lewis has more than 15 years of experience working in banking and law. A graduate of Oakland University and Wayne State University Law School, he is responsible for staying current on government regulations to ensure that our expanding CRA strategy remains in compliance. Brandon also oversees CRA data reporting, which quantifies our investments and impact. In addition, he coordinates affordable housing grants through the Federal Home Loan Bank of Indianapolis.

[email protected]

Beverly Meek

Vincent Maine

Senior Community Development Lender

After serving as an operation specialist in the U.S. Navy, Vincent Maine has spent more than 20 years working in community development. In his role at Flagstar, Vincent oversees CRA lending for multifamily affordable housing and tax credit investments, including millions of dollars in construction loans and equity investments within the bank’s footprint. He has also served on multiple boards of directors for housing and economic development, various nonprofits, and community development financial institutions.

[email protected]

Beverly Meek

Steven Hernandez

CRA Compliance Specialist

[email protected]

Beverly Meek

Darlene Leaks

CRA Loan Advisor

[email protected]