EXHIBIT 5.0   OPINION OF MULDOON MURPHY & AGUGGIA LLP






                   [Muldoon Murphy & Aguggia LLP Letterhead]



                                 October 1, 2007



Board of Directors
New York Community Bancorp, Inc.
615 Merrick Avenue
Westbury, New York 11590

         Re:      Synergy  Financial  Group,  Inc. 2003 Stock Option Plan (as
                  assumed by New York Community Bancorp, Inc. effective
                  October 1, 2007) and Synergy Financial Group, Inc. 2004 Stock
                  Option Plan (as assumed by New York Community Bancorp, Inc.
                  effective October 1, 2007)

Members of the Board of Directors:

         We have been requested by New York Community Bancorp, Inc., a Delaware
corporation (the "Company"), to issue a legal opinion in connection with the
registration (the "Registration") of 424,503 shares of the Company's Common
Stock, par value $.01 per share (the "Shares"). The Registration of the Shares
is being effected on a Form S-8.

         We have made such legal and factual examinations and inquiries as we
deemed advisable for the purpose of rendering this opinion. In our examination,
we have assumed and have not verified (i) the genuineness of all signatures,
(ii) the authenticity of all documents submitted to us as originals, (iii) the
conformity to the originals of all documents supplied to us as copies, and (iv)
the accuracy and completeness of all corporate records and documents and of all
certificates and statements of fact, in each case given or made available to us
by the Company.

         Based on the foregoing and limited in all respects to Delaware law, it
is our opinion that the Shares reserved under the Plan have been duly authorized
and, upon payment for and issuance of the Shares in the manner described in the
Plan, will be legally issued, fully paid and nonassessable.

         This opinion is rendered to you solely for your benefit in connection
with the issuance of the Shares as described above. This opinion should not be
quoted in whole or in part, or otherwise referred to or furnished to any
governmental agency (other than the Securities and Exchange Commission in
connection with the aforementioned Registration Statement on Form S-8), or any
other person or entity, without the prior written consent of this firm.

         We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement and to the reference to this firm under Item 5. Interests
of Named Experts and Counsel in the Registration Statement. In giving such






Board of Directors
New York Community Bancorp, Inc.
Page 2 of 2


consent, we do not hereby admit that we are experts or are otherwise within the
category of persons whose consent is required under Section 7 of the Act or the
rules or regulations of the Securities and Exchange Commission thereunder.

                                            Very truly yours,

                                            /s/ Muldoon Murphy & Aguggia LLP

                                            MULDOON MURPHY & AGUGGIA LLP