After just a year-and-a-half on the job, the head of Flagstar Bancorp Inc.’s mortgage banking division is leaving the financial institution.
Leonard “Len” Israel IIÂ joined the Troy, Michigan-based firm as president of mortgage in June 2015 with nearly three decades’ experience.
Before joining Flagstar, Israel hung his hat at
organizations like the now defunct IndyMac Bank FSB and Citigroup Inc.’s CitiMortgage Inc.
On Thursday, Flagstar Bank corporate communications executive Susan E. Bergesen confirmed in a written statement that Israel is leaving the company.
The statement
indicated that Israel’s responsibilities have been re-allocated to others within Flagstar.
No other details were provided about his departure.
A Form 4 Statement of Changes in Beneficial Ownership filed Wednesday with the Securities
and Exchange Commission indicated that Israel, who was executive vice president of Flagstar Bancorp, owns 3,750 shares of Flagstar’s common stock.
Israel’s departure was first reported by Inside Mortgage Finance.