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): July 14, 2008

Flagstar Bancorp, Inc.

(Exact Name of Registrant as Specified in Charter)

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

5151 Corporate Drive, Troy, Michigan	48098
(Address of Principal Executive Offices)	(Zip Code)

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

     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 2.02 Results of Operations and Financial Condition

          On July 14, 2008, Flagstar Bancorp, Inc. (the “Company”) issued a press release reporting its preliminary financial results for the three months ended June 30, 2008. The text of the press release is included as Exhibit 99.1 to this report. The Company expects to release its final financial results for the three months ended June 30, 2008 at the close of business on Thursday, July 17, 2008

          The information in this Item 2.02, including the exhibit attached hereto, is furnished pursuant to Item 2.02 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 2.02 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 exhibit is being furnished herewith:

Exhibit No.	Exhibit Description
99.1	Press release of Flagstar Bancorp, Inc. dated July 14, 2008.

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.
Date: July 14, 2008	By:	/s/ Paul D. Borja
		Paul D. Borja
		Executive Vice-President and Chief Financial Officer

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 Bancorp Announces Preliminary Second Quarter 2008 Financial Results

TROY, Mich. (July 14, 2008) — Flagstar Bancorp, Inc. (NYSE: FBC) announced today that for the quarter ended June 30, 2008, it anticipates reporting net earnings of $15.7 million, or $0.22 per share (diluted) and net earnings for the six months ended June 30, 2008 of $5.1 million, or $0.08 per share (diluted).

Flagstar also expects to report a significant increase over first quarter 2008 and fourth quarter 2007 in the regulatory capital ratios of Flagstar Bank, its wholly-owned subsidiary, due to its earnings for the second quarter 2008, its $100 million capital raise during the quarter and its reduction in total assets to $14.6 billion at June 30, 2008 from $15.9 billion at March 31, 2008. Flagstar Bank expects to report, for regulatory purposes, a core capital ratio of 6.70% and a risk-based capital ratio of 11.65% at June 30, 2008.

Flagstar Bancorp will provide more detailed information on its second quarter 2008 results in its regularly scheduled earnings release to be issued on Thursday, July 17, 2008 and during its previously-scheduled earnings conference call at 11:00 a.m. on Friday, July 18, 2008.

To join the earnings conference call, please call (877) 718-5107 toll free or (719) 325-4776 and use passcode: 4748348. Please call at least 10 minutes before the call is scheduled to begin. A replay will be available for five days by calling (888) 203-1112 toll free or (719) 457-0820 using the passcode: 4748348.

The conference call will also be available as a live audiocast on the Investor Relations section of www.flagstar.com. It will also be archived on that site and will be available for replay and download. A slide presentation to accompany the conference call will also be posted on that site.

Flagstar Bancorp, Inc., is the largest publicly held savings bank headquartered in the Midwest. At June 30, 2008, Flagstar operated 170 banking centers in Michigan, Indiana and Georgia and 121 home loan centers in 26 states. Flagstar Bank originates loans nationwide and is one of the leading originators of residential mortgage loans. For more information, please visit www.flagstar.com.