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): APRIL 22, 2005


                             FLAGSTAR BANCORP, INC.
             (Exact name of registrant as specified in its charter)


          MICHIGAN                      1-16557                  38-3150651
(State or other jurisdiction        (Commission File          (I.R.S. Employer
     of incorporation)                  Number)              Identification No.)


  5151 CORPORATE DRIVE, TROY, MICHIGAN                              48098
(Address of principal executive offices)                          (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:

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

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

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

[ ]   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 PRINCIPAL OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF PRINCIPAL OFFICERS

(a)    Not applicable.

(b)    On April 27, 2005, the Company today announced that Michael W. Carrie,
who has served as its Chief Financial Officer since 1993, elected on April 22,
2005 to retire from the Company effective June 20, 2005 to pursue personal
interests. He has agreed to remain with the Company in an advisory capacity
after assisting with the transition of duties to his successor. Mr. Carrie has
also been a member of the Company's Board of Directors since 1997 and is
standing for re-election at the 2005 annual meeting of stockholders.

The Company also announced that Paul D. Borja would become Executive Vice
President and Chief Financial Officer following Mr. Carrie's retirement. The
Company expects to enter into a three-year employment agreement with Mr. Borja .
Mr. Borja, 44, is currently a banking and corporate lawyer with Kutak Rock LLP,
where he has served as a partner since 1997. He represented the Company in its
initial public offering in 1997 and in subsequent federal securities, corporate
governance and federal banking regulatory matters.

Mr. Borja holds a bachelor's degree in accounting from the University of Notre
Dame and formerly worked as a CPA with Peat Marwick Mitchell from 1982 through
1987. He received his law degree from George Washington University in 1990 and
his master's degree in tax law from Georgetown University in 1991.

       A copy of the Company's press release is attached hereto as Exhibit 99.1
and incorporated herein by reference.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

       (c) The following exhibit is being furnished herewith:

Exhibit No.   Exhibit Description
- -----------   -------------------

99.1          Press release text of Flagstar Bancorp, Inc. dated April 27, 2005.



























                                    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: April 27, 2005                           By: /s/ Michael W. Carrie
                                                    ----------------------------
                                                    Michael W. Carrie
                                                    Executive Director,
                                                    Chief Financial Officer,
                                                    and Treasurer







                                 EXHIBIT INDEX


Exhibit No.   Exhibit Description
- -----------   -------------------

99.1          Press release text of Flagstar Bancorp, Inc. dated April 27, 2005.

EX-99.1

EXHIBIT 99.1

[FLAGSTAR BANCORP LOGO]

                                                   FOR MORE INFORMATION CONTACT:
                                                               Michael W. Carrie
                                                          Executive Director/CFO
                                                                  (248) 312-2000

             FLAGSTAR ANNOUNCES RETIREMENT OF CHIEF FINANCIAL OFFICER

Troy, Mich. (April 27, 2005) - Flagstar Bancorp, Inc. (NYSE:FBC) today announced
that Michael W. Carrie, who has served as its Chief Financial Officer since
1993, elected on April 22, 2005 to retire from the Company effective June 20,
2005 to pursue personal interests. He has agreed to remain with the Company in
an advisory capacity after assisting with the transition of duties to his
successor. Mr. Carrie has also been a member of the Company's Board of Directors
since 1997 and is standing for re-election at the 2005 annual meeting of
stockholders.

In making the announcement, Thomas J. Hammond, Chairman of the Board, said, "We
have appreciated having Mike as part of our executive team these past 12 years.
As our CFO, he has played a key role in our growth from $150 million in assets
in 1993 to our current level of over $14 billion. His leadership and commitment
to Flagstar helped us to expand from a privately-held single branch institution
when he arrived to a NYSE-traded company with 125 banking centers today. Our
Midwest mortgage operation expanded at the same time and we now do business
throughout the United States. I am personally grateful for Mike's dedication,
counsel, and commitment through the years. He has served the Bank well, and we
are pleased that he has agreed to remain on the Board so that the Company can
continue to benefit from his knowledge and experience in his capacity as a
director and financial advisor."

The Company also announced that Paul D. Borja would become Executive Vice
President and Chief Financial Officer following Mr. Carrie's retirement. Mr.
Borja, 44, is currently a banking and corporate lawyer with Kutak Rock LLP,
where he has served as a partner since 1997. He represented the Company in its
initial public offering in 1997 and in subsequent federal securities, corporate
governance, and federal banking regulatory matters.

Mr. Borja holds a bachelor's degree in accounting from the University of Notre
Dame and formerly worked as a CPA with Peat Marwick Mitchell from 1982 through
1987. He received his law degree from George Washington University in 1990 and
his master's degree in tax law from Georgetown University in 1991.

Mr. Hammond also noted, "We are pleased to have Paul join our team. His
background in accounting and legal matters makes him well-prepared for the
position of chief financial officer, while his extensive knowledge of our
operations will insure a smooth transition. His insights and experience should
help us to continue to succeed."

Flagstar Bancorp, which has $14.2 billion in total assets, is the second largest
banking institution headquartered in Michigan. Flagstar currently operates 125
banking centers throughout southern Michigan and Indiana. In addition, the
Company operates 109 loan centers in 27 states and has correspondent
relationships across the United States. Flagstar is one of the nation's largest
originators of residential mortgage loans.

The information contained in this release is not intended as a solicitation to
buy Flagstar Bancorp, Inc. stock and is provided for general information.