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Flagstar Bank

Flagstar Bank

 3.1/5 (277 ratings)
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About Flagstar Bank

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Flagstar Bank Reviews

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Page 1 Reviews 0 - 10
Rated with 1 star
Verified Reviewer
Original review: Oct. 8, 2021

Our annual tax bill is ~$10,000. We receive some local exemptions and due to the crazy market in Maine, received 1 year tax abatement for our property giving us a credit of $1200. When submitted, to Flagstar's escrow department as they requested, I never heard back about the topic. THEN, when I did call to check in on it. They had instead told me that we had definitely over paid since our taxes were only $1,200 for each 1/2 of the year.... So instead of reading the documents I submitted, and making sure it was done correctly because it wasn't they could have cost me several $1000 and a lien. As a mortgage industry professional, this is completely unacceptable.

Flagstar Bank response

Haleigh, thank you for taking the time to provide your feedback. We apologize that we provided a less-than-ideal experience. We value your feedback and hope you'll give us the opportunity to listen and improve. Please reach out to our Loan Servicing professionals at (800) 968-7700 during the below times so we can help resolve your issue.

Monday-Friday: 7:30 a.m. to 8 p.m. ET

Saturday: 7:30 a.m. to 4 p.m. ET

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Customer increased Rating by 4 stars!
Verified Reviewer
Resolution response: Sept. 27, 2021

A kind and sweet supervisor called and put my mind at ease.

Original review: Sept. 25, 2021

The third party loss drafts department is worse than the natural disaster I experienced on March 26th, 2021. I hope that no one ever has to experience this incompetent call center. What an epic nightmare. No one has helped me with accuracy and professionalism. I’ve spoken to the customer relations department on the phone with Flagstar, the one that is used as an auto response, while genuinely nice they in turn have been unsuccessful in helping me. I feel like my funds are being held hostage because loss drafts can’t get their details in order. My home is almost done being rebuilt and we are still waiting on an inspector to call back and be assigned to my claim. Flagstar uses Safeguard which has a third party call to schedule inspections, this in turn has also been an epic failure.

Guys, I am still waiting. You need to be open on Saturdays to handle emergencies. I am thinking twice about keeping my mortgage with Flagstar, you should too, especially if a disaster hits. No apology can make up for what I’ve been through over the last 6 months. A mortgage credit for 6 months would definitely make up for it. Also a callback would be wonderful from the president of your company, however that is very doubtful.

Flagstar Bank response

Jonathan, we understand you are frustrated and would like to address any concerns you have as quickly as possible. If you are willing, please direct message us so we can learn about your experience and how we can better help your situation. Reach out to our team on our Facebook (https://www.facebook.com/flagstarbank) or Twitter page (https://twitter.com/flagstar) so we may put you in touch with a supervisor.

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    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 20, 2021

    I look for mortgage application. He looked at my credit score knowing that I didn’t had a social security number, and that your bank doesn’t even provide this type of loan for me, He still went through with the application and he lied to me that I was pre-approval, He say for ITIN number I only have to prove my income for down payment. I’m very disappointed with Senior Loan Advisor service and the bank. Didn’t even had the decency to send me an email apologizing for your mistake and the consequences it caused on my credit scores.

    Flagstar Bank response

    Dinamarta, thank you for taking the time to provide your feedback. We apologize that we provided a less-than-ideal experience. We value your feedback and hope you'll give us the opportunity to listen and improve. Please reach out to us at (855) 323-8599 during the below times so we can learn more and make sure you have a more positive experience going forward.

    Monday-Thursday: 8 a.m. to 8 p.m. ET
    Friday: 8 a.m. to 7 p.m. ET

    Saturday: 10 a.m. to 3 p.m. ET

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 13, 2021

    I had scheduled my autopayments for each 28th of the month, it was the 30th of the month already and still didn't see any payment posted not even as a temporary transaction in my bank account nor any notification in my email. So I decided to cancel my Flagstar autopayments. Then I did my payment manually and I got the notification immediately for this one. My manual payment went though fast. Well guess what? I got a charge of the autopayment showing off as a pending transaction on Wednesday the 1st. So I called and followed their instructions while I sent the refund form, they say it would take around 10 business days to get my refund (terrible 'cause I had other urgent payments to do). I think everybody just want to hold your money. Don't use autopayments if you are religious about seeing your transactions on time. BTW I didn't fully read the form and I just replied to the agent with my form instead of the right email in the description so I need to wait more time to get my refund.

    Flagstar Bank response

    Fav, we appreciate you taking the time to leave us a review. Our team is working toward eliminating any issues that may occur with the MyLoans service and making sure you have a more seamless experience going forward. Please reach out to our Loan Servicing professionals at (800) 968-7700 during the below times so we can help resolve your issue.

    Monday-Friday: 7:30 a.m. to 8 p.m. ET

    Saturday: 7:30 a.m. to 4 p.m. ET

    Be the first one to find this review helpful
    Resolution In ProgressRated with 1 star
    Verified Reviewer
    Original review: Sept. 11, 2021

    I recently purchased a property and my loan was sold to Flagstar. Since then my new tax bill came out which I provided to Flagstar over a month ago for escrow update. Nothing has happened since. Every time I call (I have called 5 times over the past 4 weeks), I am given the same runaround that they are working on it or that my account is on "high priority". Last time I was told that my account will be updated in 5 business days and this was 2 weeks ago. All they do is say "we are sorry" but don't actually fix the issue. Today they told me my escrow account is short so I have pay extra to fill up the gap, none of this had been communicated if I hadn't called myself. They don't communicate any changes nor do they update your account so you can it online. I am considering closing my escrow account because their mediocre service.

    Flagstar Bank response

    Naureen, thank you for taking the time to provide your feedback. We apologize that we provided a less-than-ideal experience. We value your feedback and hope you'll give us the opportunity to listen and improve. Please reach out to our Loan Servicing professionals at (800) 968-7700 during the below times so we can help resolve your issue.

    Monday-Friday: 7:30 a.m. to 8 p.m. ET

    Saturday: 7:30 a.m. to 4 p.m. ET

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 9, 2021

    My mortgage was sold to Flagstar bank in March 2021. My account was managed so wrong and I have been harassed since day 1. The escrow and insurance departments are mismanaged. I made decision today to pay off my loan over $385k since I cannot deal with the harassment. My credit score ~780 - 810

    Flagstar Bank response

    Bing, thank you for taking the time to provide your feedback. We apologize that we provided a less-than-ideal experience. We value your feedback and hope you'll give us the opportunity to listen and improve. Please reach out to us at (855) 399-9890 during the below times so we can learn more and make sure you have a more positive experience going forward.

    Monday-Thursday: 8 a.m. to 8 p.m. ET
    Friday: 8 a.m. to 7 p.m. ET

    Saturday: 10 a.m. to 3 p.m. ET

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer Verified Buyer
    Original review: Sept. 1, 2021

    So I opened an account 2 days ago at the Horton Rd Flagstar Bank in Jackson Michigan. The ladies were nice. I went in the following day to get a temporary debit card because the official debit card takes up to 2 weeks to arrive in the mail... So okay... All was well... until... I got a phone call from a very abrasive woman telling me my account was going to be under review and that people who buy crypto are scammers basically and that my account was to be closed pending an investigation or review at which point I was just shocked to be hearing all of this.

    There was nothing I could say to calm her down. She was angrier when the call was ending than when it began. Now...for the truly horrific part. I had requested help from a true friend to pay a bill at the foc. And the way it was sent makes it impossible to return just like cryptocurrency. Once it's sent it's gone... Hope you got the address right. This lifeline of a payment was sent to me the night before and it won't be in the account still for another day or up to 3 days... but the hasty manner in which the account was closed means I'm going to lose almost 2k because some lady hates bitcoin. Or me... regardless I thought you all should know how painful it can be dealing with Flagstar Bank. Under review....bull.

    They closed the account and now the money I was counting on to catch up on my child support....is going to just disappear. I hope someone at the place has the decency to allow this nearly 2k to sit and wait for however long it takes to fully clear before letting me withdraw with my original 50 account balance. I'm truly disgusted with the place and wouldn't recommend anyone use them if this is how they are taught to treat new patrons.

    Flagstar Bank response

    Richard, thank you for taking the time to leave us a review. We value our customers' feedback and are working toward making sure you have a more positive experience with us going forward. Please contact us at (888) 248-6423 during the below times so we may discuss your visit.

    Monday-Friday: 7:30 a.m. - 9 p.m. ET

    Saturday: 8:30 a.m. - 6 p.m. ET.

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 1, 2021

    I've been trying to get a home modification for 4 months. Are they overwhelmed or underqualified? Only updates are by USPS & are late. Keep calling. Upload your docs and keep calling! I was the Sr. Admin for the real estate division of a 64 billion dollar bank. I know what is required and what is sub-par work. My loan hasn't even gotten to an underwriter yet. Btw my Credit score is 814. I have a job and want to start sending them payments again, albeit lower payments due to loss of income. It's almost as if they want you to lose your house. I have a lot of equity and will sell before that happens. They will lose a loan and I will lose my home if they don't get it together.

    Flagstar Bank response

    Thank you for giving us another opportunity to address your important concerns, Wendy. We're sorry to see you're having issues and would love to help you get this resolved as quickly as possible. As we cannot gather your personal information online, we ask that you reach out to our Loan Servicing professionals at (800) 968-7700 during the below times and they can help work to resolve your issue.

    Monday-Friday: 7:30 a.m. to 8 p.m. ET

    Saturday: 7:30 a.m. to 4 p.m. ET

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 31, 2021

    We worked with our trusted mortgage broker on a refi for 3 months. It was nearly complete. Ordered appraisals, all docs in, everything was pre-approved and at the last minute, just before the 2nd appraisal was complete, the bank decided our property did not fit their definition of a single-family. We have financed this property several times during purchase, construction to permanent financing, refi #1 and #2, and no lender has ever had this issue. We spent thousands and they pulled the plug at the last minute. It was easier for them to say no than work through the underwriting. I work in the real estate/RE finance industry and we gave them all the documentation they required but they somehow couldn't wrap their heads around it. I highly question their understanding of property definitions or commitment to borrowers/clients at this point.

    Flagstar Bank response

    Thank you for taking the time to provide your feedback. We apologize that we provided a less-than-ideal experience. We value your feedback and hope you'll give us the opportunity to listen and improve. Please reach out to us at (855) 399-9890 during the below times so we can learn more and make sure you have a more positive experience going forward.

    Monday-Thursday: 8 a.m. to 8 p.m. ET
    Friday: 8 a.m. to 7 p.m. ET

    Saturday: 10 a.m. to 3 p.m. ET

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    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 18, 2021

    I lost my job due to Covid 19. I talked with Flagstar and was told on several occasions “No worries. We can put you in Forbearance and just add it on to the end of your loan when you are back to work and ready to start making payments.“ This turns out to not be the case at all. I got back to work and called to get set up to start making payments again and was asked if I could pay $20,000.00 upfront to get my loan current.

    When I said no I want to do what they had told me they would do on several occasions I was told I would have to go through the hardship paperwork. That they had told everybody that they would just add the non paid payments to the back end of the loan but unfortunately there was some miscommunication between Flagstar and the government to how it was actually supposed to work. And that Lakeview who has my loan did not support Forbearance plans and required I go through the complete hassle of filling out the hardship loan modification paperwork. Flagstar was supposed to mail me the hardship loan modification paperwork and I never received it. I called them only to be told I could go online and fill the paperwork work out which I did.

    After several back and forth to get the paperwork filled out to Flagstar’s liking I had not heard anything so I called them. Only to find out they made the decision to raise my mortgage payment $40.00 a month and to put me on a trial plan for three months. So after all the red tape hassle of filling out Hardship loan modification paperwork I am told My payment was increased and I am on a trial plan for three months. To pay and increased payment on the 1st of every month. That Lakeview who has my loan wouldn’t add my missed payments to the back end of my loan so my mortgage payment was increased. They could not of read my hardship letter that explained I could of refinance with another bank and saved several hundred a month. That I now had enough equity in my house I should no long be paying PMI. And that I wanted my loan set up on biweekly payments.

    Basically I was ran through 2 months of red tape smoke and mirrors to find out I had been lied to from the very beginning and now am being treated like a bum. Being put on a trial payment plan that increased my payment and set the due date on the first of the month to see if it works. Both of which Make no sense as to why they even bothered to make me fill out the Hardship loan modification paperwork. It clearly was not to modify my loan to work with me. Rather it was to modify my loan to work better for Flagstar and Lakeview.

    Flagstar did absolutely nothing to even try and work with me. I have called them and everyone one I talked to completely understood my frustration till I got to the supervisor of the Hardship task force department and all he wanted to do is tell me how they done everything they could and was only supervising my account for Lakeview. Flagstar could easily refi my loan to drop PMI and put my missed payments due to Covid on the back end. They are more concerned with the Business relationship with Lakeview VS doing what they promised a customer. Frankly Lakeview should honor the promise FlagStar made on their behalf and at least do the bare minimum and add the unpaid payments on to the back of the loan and not increase my monthly payment.

    Sent 2 massage via Flagstar website and have received no response from Flagstar. Very poor customer service. I will say everyone other than the Hardship task force manager have been very polite and understanding folks. They are just left with no options or tools to help customers. I have seen several Flagstar responses on her to other customers. Requesting them to call them to correct the issues they had with Flagstar. It is sad and shameful that anyone has to come here to give a bad review to get someone at Flagstar to listen.

    Flagstar Bank response

    Kevin, thank you for giving us another opportunity to address your concerns. We're sorry to see you're having issues and would love to help you get this resolved as quickly as possible. As we cannot gather your personal information online, the best way to resolve your issue is to reach out to someone on our customer service team at (888) 248-6423 during the below times.

    Monday-Friday: 7:30 a.m. to 8 p.m. ET

    Saturday: 7:30 a.m. to 4 p.m. ET

    2 people found this review helpful
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    Flagstar Bank Company Information

    Company Name:
    Flagstar Bank
    Website:
    www.flagstar.com