8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 17, 2010

Flagstar Bancorp, Inc.

(Exact name of registrant as specified in its charter)

Michigan
(State or other jurisdiction of
incorporation) 1-16577
(Commission File
Number) 38-3150651
(I.R.S. Employer
Identification No.)

5151 Corporate Drive, Troy, Michigan
(Address of principal executive offices) 48098
(Zip Code)

(248) 312-2000
(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On August 17, 2010, Lesley Goldwasser resigned as a member of the Boards of Directors of Flagstar Bancorp, Inc. and its wholly-owned subsidiary, Flagstar Bank, FSB.

Item 7.01. Regulation FD Disclosure

On August 18, 2010, the Company issued a press release announcing Ms. Goldwasser’s resignation. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

The information in this Item 7.01, including the exhibit attached hereto, is furnished pursuant to Item 7.01 and shall not be deemed “filed” for any other purpose, including for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section. The information in this Item 7.01 of this Current Report on Form 8-K shall not be deemed incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act regardless of any general incorporation language in such filing.

Item 9.01 Financial Statements and Exhibits

     (d) The following exhibits are being furnished herewith:

Exhibit No.		Exhibit Description
	99.1	Press Release dated August 18, 2010.

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

	FLAGSTAR BANCORP, INC.
Dated: August 19, 2010	By:	/s/ Paul D. Borja
		Paul D. Borja
		Executive Vice-President and CFO

EX-99.1

Exhibit 99.1

	NEWS RELEASE For more information, contact:
	Paul D. Borja Executive Vice President / CFO (248) 312-2000 FOR IMMEDIATE RELEASE

FLAGSTAR ANNOUNCES THE RESIGNATION OF LESLEY GOLDWASSER FROM ITS BOARD OF DIRECTORS

TROY, Mich. (August 18, 2010) — Flagstar Bancorp, Inc. (NYSE:FBC) (the “Company”), the holding company for Flagstar Bank FSB (the “Bank”), today announced that Lesley Goldwasser has resigned from her position on the Board of Directors (the “Board”) of the Company and from the position of Lead Independent Director of the Board.

Ms. Goldwasser officially tendered her resignation, effective August 17, 2010, after accepting an executive position with Credit Suisse to run its new Hedge Fund Services group.

Joseph P. Campanelli, Flagstar’s Chief Executive Officer and Chairman of the Board said, “We join in congratulating Lesley on her new position. Our Board and the Company have benefited from her insight, guidance and other valuable contributions and we wish her well in her new role.”

Mr. Campanelli continued, “I am also pleased to announce that David Treadwell, an existing director on the Board, has agreed to serve as our new Lead Independent Director. David has served as a key voice on the Board since the start of his tenure in 2009, and we look forward to working with him in his expanded role.”

Flagstar, with $13.9 billion in total assets, is the largest savings bank headquartered in the Midwest and the largest financial institution headquartered in Michigan. At June 30, 2010, Flagstar operated 162 banking centers in Michigan, Indiana and Georgia and 48 home loan centers in 22 states. Flagstar originates loans nationwide and is one of the leading originators of residential mortgage loans. For more information, please visit flagstar.com.