Flagstar Bank

Flagstar Bank

 1.3/5 (77 ratings)
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    Page 1 Reviews 0 - 10
    Rated with 1 star
    Verified Reviewer
    Original review: May 9, 2022

    I have been waiting since November 2021to finalize an agreement with Flagstar. I have also done all the correct paper work filing to take out of loss mitigation (due to the COVID Forebearance) and complete the agreed refinance with sum attached at the end of the loan...I am told that an escalation supervisor will contact me within 48 hours to handle and to complete the process. They do not. Nobody. My loan was improperly taken out of consideration NOT because of me but for the failed connectivity on Flagstar's end. I would like the completed as to avoid a lawyer and join a current lawsuit against Flagstar with other for this same issue.

    I would not have even put one star but was needing to do that at least to submit. I do not want to be connected to a specialist or someone in customer service as they said they are not able to do anything and "are as helpless as myself". I work for the airlines and understand we are all overwhelmed but please follow through and make good on your word. The generated mail with threatening letters and calls is enough.

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: May 9, 2022

    Our Mortgage was just acquired from UWM. We had our monthly payment set up on auto pay. We were notified about 2 weeks prior to the transfer of service that this was transpiring. We didn't receive any communication from Flagstar Until the 1st of the month. Apparently I was too eager to make our mortgage payment. I logged into the Flagstar Portal at the first opportunity on the 4th and scheduled our payment. Later that evening I received an email from Flagstar saying that our existing Automatic withdrawal was still in place and would still happen.

    Sure enough I looked at our joint checking account the next day and there were 2 payments deducted from our account. I thought simple enough, this is a new account, surely this has happened before. I'll just call in and ask to have one of the payments reversed. The person I spoke with was nice enough, but he couldn't do anything. I'd have to fill out a form and fax, mail or email it in with proof that the funds had been withdrawn from my bank. Of course the form requests routing and account information so I thought, I'll just ask for a secure link to submit this info. I sent an email to the address that you are supposed to send your request to asking for a secure portal and got an email that simply said send it to the same email address, not acknowledging that I had asked for a secure portal or link to be able to safely transmit sensitive banking information. Oh, and that took two days for a response.

    So I called in to "customer service" again, expressed my concern and was told I'd be transferred to a supervisor. The same agent that answered the call came back on and told me that the safest way to submit this information was through the USPS, and she could file a complaint or a suggestion, which would I prefer. I'm exceptionally displeased with the one way nature of this arrangement. They can take funds from our account, but to have anything returned with an obvious duplicate transaction requires forms to be mailed in in order to be secure, in this day and age, is a slimy business practice. The fact that a "supervisor", wouldn't get on the phone with me goes to show how little they think of the customers they acquired. That we as consumers have no say in who services our mortgage is troubling when you experience dodgy business practices like this.

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      Rated with 1 star
      Verified Reviewer
      Original review: May 3, 2022

      They have no idea what they are doing. Our loan was acquired by them and I have had nothing but issues. It took 3 months for me to even get them to accept a mortgage payment (which they charged me a fee for because their online system kept reversing my payments). Now I called in asking for my 1098 tax form before tax day and was told they forgot to issue it so the earliest they could get it to me was 1 day after tax day. We dealt with that, however it is now over 2 weeks since taxes were due and I still have no form. I called in today and was told I don't need one since the actual first payments did not process until January of this year. That sure would have been nice to know on the call before tax day.

      So I asked who is going to pay for the late fees incurred by us missing tax day waiting for the form we were originally told we would have issued and we are now being told we would not need. The supervisor I spoke with used the fact that because we called only 4 days before tax day it was our fault we had late fees. I said no it was their fault because we would have filed 4 days before taxes were due. Monthly I have to log in at least a week before our mortgage is due because their online system will not let me make a payment until I try 2-3 times on different days to get the payment information to show up on my account to make a payment. I wish as a consumer we had control over who acquires loans. I would NEVER apply for anything with them willingly.

      3 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: May 2, 2022

      Loan modification did not get accepted due to employees in the Hardship Department giving false information. It is unacceptable that employees are not equipped

      with the necessary knowledge especially dealing with mortgages.

      Be the first one to find this review helpful
      Rated with 4 stars
      Verified Reviewer
      Original review: April 30, 2022

      After reading some of the reviews on here about Flagstar Bank I was a bit shell-shocked. I completely understand the frustration by some customers, I have some of my own as well, but I wanted to take a moment and give them credit for their positive attributes and hard work that I have personally experienced from them as my mortgage lender. I have been on COVID forbearance for quite a while and was set to exit a few months ago. Let me start by saying throughout the entire Forbearance they were helpful, kind, and informative whenever I had questions, concerns, etc. Following my exit of forbearance, I was to receive my new loan modification documents within a month, have them signed and notarized and returned to begin payments.

      After a month I started calling about every two weeks to keep the lines of communication open and still at 6 weeks hadn't received my loan modification documents. One day I go to grab my mail and see that the mailman or whomever delivered them put my documents behind a sign hanging on my property's driveway sliding gate. I was blown away by this... how could anyone think that was a good place to put any mail much less something as important as this? I opened them up to see if I could still get them notarized and turned in on time and sure enough, they had passed their date and expired. I was so upset, frustrated, and angry that something so irresponsible had led to now further issues with my loan. I called Flagstar and explained the situation and I got to tell you, I received nothing but understanding, respect, and genuine concern.

      They immediately went to work to draft me new documents so they could get to me asap and we could move forward. Weeks pass again and I start to get anxious and call again. This time I am told that no notes had been entered and that no documents had been drafted or sent. This really was disheartening to me, and I am sure many borrowers are dealing with their own mistakes or hiccups with Flagstar. I was really getting tired of the back and forth myself but I had to stop and think about it. This was an accident. Flagstar has been wonderful and on their A game and God bless them for doing so. They are handling an overwhelming amount of loans and modifications and you know what, people make mistakes. So we spoke for a bit about reapplying at this point for the loan modification to get a fresh start and have a clean slate to get it done.

      They discussed my rights and protections and that they would work diligently and quickly to get a modification together and in my hands to sign asap. I have to be honest, I am still waiting currently for their response which is a bit stressful as I have been dealing with a plethora of other issues like vehicle, health with my family, finances and balancing it all amongst working. It's been really hard. But the point I want to drive home for anyone reading this is that Flagstar is a company with hard-working, personable, helpful, caring employees that due their best amongst the overwhelming amount of modifications and loans they are handling. They have never made me feel unimportant, disregarded or that my situation was one that was doomed or going to fail.

      Through all the issues and mixups, they continue to push hard to make sure everyone get a fair shake and a mortgage that they can comfortably afford to keep their homes and families in them. I don't ever stress about or fear calling them (I'll need to Monday to figure out what's going on). I know no matter what they will work with me and make it happen because they are just good like that. I am proud to be a borrower of Flagstar Bank and I think that, even amongst the stress and chaos of the world we are living in, if we as borrowers can relax and give them credit for all they do and keep that those lines of communication open, Flagstar will make it happen for all of us.

      Be it forbearance, loan modification, or refinance, have faith and trust in the process. Good things come to those who are patient and understanding. Things have been really tough for everyone and we all need to work together to get back on track. Anyways I just wanted to offer a positive review from a happy customer who does appreciate all the effort I have received. It's helped my family more than we can express and we can't thank Flagstar enough. Cheers to new beginnings and a bright future ahead. You rock Flagstar!

      Be the first one to find this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: April 23, 2022

      I have been trying to resolve my forbearance since July 2021. I have been told at least five times that an agreement has been mailed out for me to sign and return in order to modify my loan and resume mortgage payments. I haven't gotten any of these agreements yet I've gotten other correspondence via mail from them. It makes no sense that I'm receiving everything else in the mail from them except the agreement. Each representative I have spoken to agrees that it makes no sense. After reading similar reviews, I'm convinced this is just something they are trained to tell you and are not really mailing out anything.

      I submitted the Loss Mitigation Application for a second time recently after not getting the allegedly mailed agreements only for the underwriter to deny the application this time after saying my occupied property is vacant and is not my primary residence. Not only has my property never been vacant, it's my only residence, which I indicated on the applications. I also uploaded proof of occupancy to their website. Occupancy questions are also asked of you each time you call. None of the representatives I have spoken to are incompetent. They have no idea what's going on and give you the run around. I have spoken to at least 15 different people since July 2021 trying to resolve this! My next step is to contact an attorney.

      Be the first one to find this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: April 18, 2022

      I own a property with my sister, and since she has hit a rough patch we decided to do a mortgage deferment for a few months. We submitted the application in February and were instructed to not pay our mortgage while going through this process.. We are still in the process two months later and Flagstar has put a late payment on our record. My credit score has gone down 60 points.. and I got a notification that someone put a hard inquiry on my report. Guess who it was? Flagstar :). Now I’m in a situation that should’ve never happened, with ** up credit and having to come up with two mortgage payments. They are saying that my deferment application is under review now, and what was once something that should’ve took a few days, will now take an additional 30 days. The customer service + communication that this mortgage provider provides is absolutely terrible, I haven’t seen such incompetence in my life. Horrible. 0/10.

      Flagstar Bank response

      Diamond, 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.

      Be the first one to find this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: April 5, 2022

      Really don't know where to start but I really hate whoever wherever this so called bank came from. They Acquired my loan and this must be the DAMN DEVIL. They don't have a DAMN clue on what's going on. I've been sending them the same 14 pages since 09/03/2021. They say they have the info. I call back 3 days later they don't have it. The back and forth since September 2021, the reviews online is beyond bad from the Racist ways that they deal and treat ** accounts holders for those who are dealing with hardship they accounts have been held up for very, very small reasons "like the letter Y is not straight and that doesn't like a number 3 more like a 2" but other applications have been processed with the same SO CALLED ERRORS with other Races. And the Employees with "FLAGSTAR BANK" knows that there is a problem. This KKK bank needs to be shutdown ASAP

      Flagstar Bank response

      Tarrell, thank you for giving us an opportunity to address your concerns. We're sorry to see you're having issues and would like 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. - 9 p.m. ET

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

      2 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: April 4, 2022

      I have now spent more time trying just to speak to someone and to get a copy of my new loan than I spent with my previous servicer to do a refi from an FHA to a conventional loan. Flagstar recently bought my home loan from UWM and it has been a nightmare just trying to establish any communication. I could not register on their online portal until the day after payment was due and I have yet to be able to speak to someone at their customer service number. I have now been on hold for an hour and have still not spoken to anyone and this is my 3rd attempt since receiving the service transfer letter.

      To make matters more frustrating both the web portal and the IVR say I am ineligible to make a payment and to call the 800 number that no one answers. Their online chat feature also just states that there is no one available to chat at this time whenever you attempt to use it. I have still not received any literature from Flagstar stating that they are the new servicer or how and when to provide them with payment.

      Flagstar Bank response

      Jason, 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 (800) 968-7700 during the below times so we can learn more and make sure you have a more positive experience going forward.

      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
      Rated with 1 star
      Verified Reviewer
      Original review: April 1, 2022

      I started a refi in November 2021, it's now April 2022. We have provided everything and the kitchen sink and they still want more "proof" we paid this and that, then they want to pull another credit report, I am so frustrated. We have nearly $300k in equity, and want to pull out $100k to install a pool and upgrade the landscaping, we own 3 homes and never in a month of Sunday's have we ever experienced sheer incompetence in a bank refinance. I've given up nearly 5 months of my life and I can't do it anymore. I am going to complain to anyone that will listen, and I'm going to write a scathing letter outlining the gross misconduct. We had a great % rate too, and with rates going up, and waiting for them to get their act together we totally missed out and now have to start all over again. I'm so frustrated and upset, who takes over 5 months to refinance when everything is in order. What a waste of time.

      Flagstar Bank response

      Lisa, 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.

      5 people found this review helpful

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        Flagstar Bank Company Information

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