Flagstar Financial, Inc. is revamping its balance sheet, targeting substantial earnings improvement by 2027, with a current market cap of $4 billion. The company has improved its liquidity profile, with $41.5 billion in capacity and a CET1 ratio of 11.4%, surpassing peers. Despite current losses due to balance sheet cleanup, Flagstar aims for significant growth in net interest income and a mid single-digit P/E by 2027.