Exhibit 5(a)(i)

                  [Letterhead of Muldoon Murphy & Faucette LLP]


                                 April 19, 2002

New York Community Bancorp, Inc.
615 Merrick Avenue
Westbury, New York 11590

                  Re: Registration Statement on Form S-3 filed on April 19, 2002
                  with respect to an Aggregate of $400,000,000 of Debt
                  Securities, Warrants, Preferred Securities and Common Stock

Ladies and Gentlemen:

         We have acted as counsel to New York Community Bancorp, Inc. (the
"Company") in connection with the registration by the Company of up to an
aggregate of $400,000,000 of its (1) debt securities (the "Debt Securities"),
(2) warrants to purchase common stock (the "Warrants"), (3) trust preferred
securities ("Preferred Securities") and (iv) shares of its common stock (the
"Common Stock). The Common Stock, together with the Debt Securities and Warrants
are referred to herein as the "Securities". The registration of the Securities
is set forth in the Registration Statement on Form S-3 (the "Registration
Statement") which is being filed on the date hereof with the Securities and
Exchange Commission by the Company pursuant to the Securities Act of 1933, as
amended. This opinion letter is Exhibit 5(a)(i) to the Registration Statement.

         The Securities are to be issued, separately or together, in one or more
series and are to be sold from time to time as set forth in the Registration
Statement, the Prospectuses contained therein (each, a "Prospectus") and any
amendments or supplements thereto.

         We have relied upon an officer's certificate as to corporate action
heretofore taken with respect to the Securities.

         Based on the foregoing, we are of the opinion that when (1) the
Registration Statement shall have been declared effective by order of the
Securities and Exchange Commission, (2) the terms of any class or series of such
Securities have been authorized by appropriate corporate action of the Company,
and (3) such Securities have been issued and sold upon the terms and conditions
set forth in the Registration Statement, the applicable Prospectus and the
applicable supplement(s) to such Prospectus, then (a) the Debt Securities and
Warrants, as the case may be,




New York Community Bancorp, Inc.
April 19, 2002
Page 2


will be validly authorized and issued and binding obligations of the Company,
and (b) the shares of the Common Stock will be legally issued, fully paid and
non-assessable.

         In rendering this opinion, we are not expressing an opinion as to the
laws of any jurisdiction other than the State of New York and the United States
of America and the Delaware General Corporation Law, and we assume no
responsibility as to the applicability of the laws of any other jurisdiction to
the subject matter hereof or to the effects of such laws thereon.

         This opinion is rendered to you and for your benefit solely in
connection with the registration of the Securities. This opinion may not be
relied on by you for any other purpose and may not be relied upon by, nor may
copies thereof be provided to, any other person, firm, corporation or entity for
any purposes whatsoever without our prior written consent. We hereby consent to
be named in the Registration Statement and in each of the Prospectuses as
attorneys who passed upon the legality of the Securities and to the filing of a
copy of this opinion as Exhibit 5(a)(i) to the Registration Statement. Unless
the prior written consent of our firm is obtained, this opinion is not to be
quoted or otherwise referred to in any written report, proxy statement or other
registration statement, nor is it to be filed with or furnished to any other
governmental agency or other person, except as otherwise required by law.

                                            Very truly yours,

                                            /s/ Muldoon Murphy & Faucette LLP

                                            MULDOON MURPHY & FAUCETTE LLP