Michael W. Carrie, former chief financial officer of Flagstar Bancorp Inc., a major mortgage lender based in Troy, Mich., has resigned from Flagstar's board of directors and entered into a consulting agreement with the company.Flagstar said Mr. Carrie also resigned from the board of directors of its wholly owned subsidiary, Flagstar Bank FSB, and that he will consult with Flagstar through March 2006 to assist in the transition of the successor CFO. In addition, the company announced the appointment of Brian Tauber as an independent member of both Flagstar boards to fill the vacancies resulting from Mr. Carrie's resignation. Mr. Tauber is president and chief executive officer of Carolina Precision Plastics. Flagstar, which operates home loan centers in 27 states, can be found on the Web at http://www.flagstar.com.

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