On January 18, 2017, the Boards of Directors of Flagstar Bank and Flagstar Bancorp, Inc. each appointed Jennifer Whip as a director, the company having received regulatory non-objection from the Federal Reserve Board of Chicago. Ms. Whip has been named as a member of the Company's Audit and Risk Committees. Ms. Whip is managing director for Garrett, McAuley & Co., and former long-time executive with Federal National Mortgage Association. At Garrett McAuley, she is part of a team that helps banks and mortgage lenders increase revenues, control costs, and better manage risks.