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They were extremely helpful and explained everything. They are also very well capable of working with the deaf unlike most companies that think everyone can hear. They Do NOT have an automated system for making calls. Most companies discriminate against the deaf and handicapped and Flagstar works with the disabled exceptionally well.
This is the best mortgage company on the planet, and I have dealt with about ten of them in my lifetime. No other mortgage company compares to this one.
I wanted to move to state that still had Wells Fargo. However I missed deadline. I got all my new intro pamphlets in advance. New courtesy checks, and deposit slips. Read everything & activated new card, took out some cash for weekend, and prayed. My auto deposits have cleared, my balances have transferred over, atm card worked smoothly, and I notified all auto parts of new routing number. Cannot get mobile app to download, and mobile banking is offline today. I'm sure a few days from now all will smooth out.
I honestly have no clue why there are so many bashing reviews on this company? My mortgage loan was bought by Flagstar Bank and it has been effortless with their online banking system. I have used their online chat to get a question of how do I set up biweekly payments and the question was answered and the form sent out immediately. I've set up my payments and have had zero issues. I will most certainly update this review if anything should change. When I first learned that Flagstar bought my loan, I looked up reviews and they seriously had me scared. At this point, I literally have had zero issues and every interaction has been positive.
Flagstar Bank works against you if ask for assistance. Loan mod. is subcontracted to another org. and all paperwork gets conveniently lost between the two. No point of contact; they give you a name but they don’t exist or never given their extension. You are asked to upload documents to a ‘portal’. However the ‘portal’ only holds the documents one business day but you are told that it takes 3-5 business days for someone to look at your documents and, “Oh sorry, we can’t go back and retrieve ‘old’ documents.”
The point of buying VA loans with a troubled payment history is to eventually get that government guaranteed payoff; it’s not the full amount of the loan but they see it as a profit. I live on a fixed income and any major repairs, like water leaks and broken water heater, can put me behind. I explained that to them every time I call (as you never get the same person nor does it seem that they make any notes towards your file) but it doesn’t matter to the person on the other end; you’re offered the phone number to HUD and the Consumer Protection Agency, which I believe have been completely dismantled or with Flagstar Bank to throw a disabled combat vet (three tours) out of his home.
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I just recently had the worst customer experiences at Flagstar. I'm still in shock. I was in the process of buying a home, the lender had been mainly only communicating with me via email and very short at that. I paid for the appraisal and heard nothing back for a little over a week. Then I got a text from the lender saying it appraised for 25k less than the listing price. That's all I got. Not a call saying the loan is stopped, etc. I then found out from my realtor and the seller's agent that the appraiser tried to schedule a SAME DAY appt. and was already on his way to the property when he inquired about how to schedule the appt. Somehow he got into an altercation with the seller's agent and the police were called. The home had just appraised 2 months prior for the asking price but things didn't work out with the the person's loan who was about to buy it before me, which is why it was back on the market.
The seller's agent reported the appraiser right away when things happened for fear of him underappraising the home. The loan officer told my realtor that he was sure another appraisal could be done due to the situation. But then a few days later he turned around and told her it was nothing that could be done...mind you, he never contacted me until I sent an email expressing my frustration. He will not even try to see if I can get a refund. I contacted the manager, twice now, still haven't heard anything. I can't believe they think this is ethical and that they won't even give me at least half of the $525 back!
Please stay away from the flagstar in Troy, Michigan. I'm not sure if all of them operate this way and are this unprofessional, but I am appalled and highly upset to say the least. This was unacceptable and the professional and PROPER way to handle it was to send another appraiser out there to do the job with a properly scheduled appointment, so there would be no room for bias, etc.
My mortgage was transferred to this company months ago and I’ve had NOTHING but trouble since! They are horrible to deal with! I’m ready to sell my house just to get away from them!!! My mortgage was increased for “6 payments” to get my escrow back up and I’m still paying the increased amount with no explanation! I jumped through hoops to try and get a forbearance for one month after having a surgery that had me out of work (for 8 weeks) and they denied it after taking their sweet time to decide leaving me one day to find the way to pay my mortgage. They suck!!! Stay far far away!
This lender is absolutely horrible. I am a disabled veteran in the state of Illinois. I have a 100% property tax exemption. Yet Flagstar insists on charging me for estimated property tax and then refuse to refund my escrow balance which is well over $5000 at this point. I plan to refinance my mortgage just to get away from Flagstar. Worst lender.
My original mortgage company sold my mortgage to Flagstar Bank in December 2018, I never sought them out to handle my mortgage. During the spring finances became temporarily tight due to slow work, making us late on our May payment. I called Flagstar May 31st and let them know I could pay the May payment in a week. The rep named "Summer **" had me enter into their repayment plan. I was to make a partial payment that day of a minimum of $250 (I paid triple) and the remaining amount would be divided in half over the next two payments and added to the normal payment.
I would only receive one credit hit and all collection calls and letters would stop as well as late fees. My normal bills would still show but ignore them. I had to set those payments up that day as well to be debited from my checking. Figuring this would make things a little easier for a little bit, I went ahead and set up all three payments, got the confirmation numbers and thought all was good.
On June 5th, I get a letter from Flagstar outlining the details of the pay plan, showing all three debits to come out and that the first one has been debited already. All still seemed good and I started to think a lot of the bad reviews I had seen were nothing to worry about. My June bill came showing two months due and the debited amount sitting in unapplied funds...nothing to worry about. June 10th I get a letter reaching out to me about my mortgage options. Odd...must have crossed over. (Hindsight I should have been on the phone then.)
June 24th I get a letter stating I owe over four thousand dollars by July 1st and late fees will be applied if the full amount is not in by July 17th. I called freaking out.. Not supposed to be getting late fees added and where is this bill coming from. (Spaced my normal bills would still show up) I talked to "Vanessa" who said I due owe the money and asked if I want to set up my payment, I stated I want a manager NOW as I am in a pay plan and they already have the debits coming out of my checking. She transfers me to "Gloria" in their mortgage help department. "Gloria" tells me all debits due show and ignore the bills, they are nothing to worry about. Thinking all is okay as they still show the agreement and payments are set up and the money I already paid is sitting there.
The next morning June 25th at 6am my dog is barking up a storm. I get up and see no reason for his barking. Go to let the dog out and a plain white envelope with *confidential* handwritten is laying on the outside patio floor (open to the elements). I open it up only to find a plain note stating "Dear Borrower: URGENT NOTICE Please contact your mortgage servicer immediately at: (800) 393-4887. Thank you" (form I-116). Now I am very mad, I do not need this. I have held to my end of the payment plan, was told since I am in their plan I will be removed out of the auto call and collection letters, as long as I don't default. Apparently coming out to the house and harassing customers in person is still acceptable.
I have to call every month for the past 7 month to have someone apply funds correctly. I gave a very simple direction multiple times - "any extra payment I make is to go to principal". They continue to put extra payments to the stupid "Suspense Account" instead of to the principal as directed multiple times. This throw off my book and I have to continuously call every month to tell them to move money to the principal. It also takes more than a week for them to complete the simple task. I'd certainly not recommend this bank to anyone.
Flagstar Bank Company Information
- Company Name:
- Flagstar Bank