TROY, Mich., Sept. 11, 2017 /PRNewswire/ -- Flagstar Bank
and the Southeastern Michigan Economic Data Center (SEMEDC), a unit
of Oakland University's business
school, have teamed up to expand SEMEDC's analysis of key economic
trends and bring its insights to a broader audience.
As the presenting sponsor of the SEMEDC, Flagstar will share the
center's data through its own customer relationships, social, and
other media. Flagstar's sponsorship includes support for research
by the university's undergraduate business students.
"Flagstar serves a large and growing base of commercial
customers," said Drew Ottaway,
Michigan Market president and managing director of lending for
Flagstar. "We're excited to bring these customers easy access to
powerful economic data that they—and the entire business
community—can use to drive growth in our local economy."
The economic data center was started by OU Economics Professor
Jonathan Silberman, Ph.D., who has
developed indices to measure key trends specific to Southeastern Michigan. The SEMEDC looks at
trends in the labor market, building permits, vacancies, consumer
prices, population, and other categories. Silberman and his
students just rolled out a new index focusing on the economic
vitality of the region.
"The economic vitality index taps into the heartbeat of the
economy by combining job growth, unemployment rate, real wage
growth, and housing price changes into a single measure of economic
vitality that directly impacts households," Silberman said. "The
most recent EVI for metro Detroit
shows positive momentum led by housing price gains and a reduction
in the unemployment rate. The EVI is available for 19 other
cities and a 20-city average."
Through the SEMEDC, Silberman also provides insights on the
automotive industry, including timely topics such as Detroit's lead ranking in autonomous
technology patents.
About Flagstar
Flagstar Bancorp, Inc. (NYSE: FBC) is
a $16.0 billion savings and loan
holding company headquartered in Troy,
Mich. Flagstar Bank, FSB, provides commercial, small
business, and consumer banking services through 99 branches in the
state. It also provides home loans through a wholesale network of
brokers and correspondents in all 50 states, as well as 85 retail
locations in 26 states, representing the combined retail branches
of Flagstar and Opes Advisors mortgage division. Flagstar is a
leading national originator and servicer of mortgage loans,
handling payments and record keeping for $87
billion of home loans representing 402,000 borrowers. For
more information, please visit flagstar.com.
About SEMEDC
The Southeastern Michigan Economic Data
Center (SEMEDC) provides state-of-the-art information and analysis
on economic, demographic and business trends in Southeastern Michigan. Data compiled from a
wealth of sources is available all in one convenient site. As the
real-world data changes, the data and displays are updated
automatically, so the information provided is always current. The
SEMEDC is part of the School of Business Administration at
Oakland University in Rochester, Mich.
For more information contact:
Susan Bergesen
Flagstar Bank
(248) 312-6237
Brian Bierley
Oakland University
(248) 370-4346
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SOURCE Flagstar Bancorp, Inc.