TROY, Mich., Sept. 12 /PRNewswire-FirstCall/ -- Flagstar Bancorp (NYSE: FBC) issued the following statement regarding its presentation on September 10, 2008, at the Lehman Brothers Global Financial Services Conference.

In the presentation, among other things, Flagstar raised its guidance for loan administration income for 2008 from a range of $61-$71 million to a range of $97 to $107 million. In providing this guidance for loan administration income, Flagstar notes that it relates only to the expected cash flow arising from mortgage servicing rights, without regard to changes in the fair value of the mortgage servicing rights that may result from the movement of interest rates and the effectiveness of its hedging instruments in any particular period. Flagstar does not provide any guidance with regard to the fair value of mortgage servicing rights in any period due to the inherent volatility of this asset.

Flagstar Bancorp, with $14.6 billion in total assets, 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, a wholly owned subsidiary of Flagstar Bancorp, originates loans nationwide and is one of the nation's leading originators of residential mortgage loans.

SOURCE Flagstar Bancorp