Consumer Complaints and Reviews
I obtained this mortgage through a broker who I assumed knew what he was doing. Mistake #1 of our home buying experience. My valuable advice to you: NEVER let a broker choose your bank and NEVER EVER use Flagstar for anything. They were an absolute nightmare from day one and even after the house sold. Our experience is basically the same as the rest of these complaints. Raised our rate on closing day, jacked our payment up to an uncomfortable amount when we no longer had the ability to back out of the sale. Lost paperwork, refused modification, tried not to let a short sale go through but I had a very good aggressive realtor who hounded them and documented everything until the sale was final. Flagstar even "accidentally" sold my house at sheriff's auction while my short sale was pending and we made them rescind that and continue with our buyers which wasn't easy. It become our full time job for months.
You will waste many hours of your life on the phone with these morons. I don't think the people who send the letters are even real because when you try to call them they are never once available. Not once. Then when we finally think we will never have to deal with them again, we go to get another mortgage months later and discover Flagstar had not reported our short sale correctly so that halted our next purchase. Thankfully we did our homework and very carefully chose our new mortgage company so they promptly took care of the issue for us and we are happily in our new home. DO NOT give up and accept foreclosure and/or bankruptcy, keep on them every single day until they accept your modification or short sale.
They will not accept it UNTIL you have an offer from a buyer. They don't even tell you that little tidbit of helpful info. I wish I had just googled Flagstar right in the beginning. Would have saved years of trouble. Lesson learned. This bank should be shut down, I don't know how they can keep getting fined for fraud and still allowed to stay in business! Google it! It's disturbing!
Flagstar have worked with me when my financial situation was at the worst possible state. They've avoided me from losing my home on. My only issue with Flagstar have and continues to be the finance options.
We had a tornado damage our home. Our insurance company was out within 2 weeks and gave us a check. Considering all of the homes damaged we felt this was quick. Because Flagstar holds my mortgage their name had to be on the check and this is where the problems begin. I called them to get the information they would require and how to get them to release the check to me. I was installing a ceiling fan at my home when I called them. They placed me on hold. I drove to a home improvement store and returned, and was half-way finished installing the fan by the time they came on the line... well over an hour.
I mailed the check with the appropriate paperwork and Flagstar returned a check for less than 1/2 of the amount from my insurance carrier made payable to me and my contractor. Of course I sent my check to Flagstar overnight because this is extremely important to me, and over a month later I got the check for less than half returned via regular mail in a handwritten envelope. They will not give me a check in full until all repairs are complete. That is aggravating but I understand they need to protect their interest.
I called them and this time had a very short wait so I was pleased. However, the agent was of no use to me. I asked them to send me a check for the $7200 I was out-of-pocket for removing the trees from my house and yard, and the fence I had repaired already. They said I would have to provide receipts. I explained they had it in the information from the insurance carrier and he dug through his paperwork and found it. However, he told me he could not give me anything until the contractors were paid and they would not give me the money owed me until all contractors are paid in full.
Basically he told me he didn't care about me or my family being out $7,200. I have never experienced a company who cared less about their customers. I went to my insurance agent and he told me I was the 3rd person with a horror story about Flagstar from this storm. If you are buying a house or refinancing you need to understand the company holding your mortgage really matters.
This company will say anything to get your business and will say anything to get out of a rate lock if it suits them. I locked a rate with Flagstar on 10/4/16 which was guaranteed until 12/5/16. There was no visible activity on my loan application that I did not have to call and cause to happen. The Senior Mortgage Consultant Jeff and the Underwriting Processor Alaina appear to work for different companies as they do not communicate with each other. The only thing they have in common is their incompetence. The mortgage lock was extended to 1/5/17 due to the lack of progress on the loan.
In the meantime, the rates changed drastically. Jeff then began the backpedaling process to escape the commitment they had made and along the way charged me $551 for a BAD appraisal that used no comps in my neighborhood. Prior to the "attempted" refinance, my loan to value using the bad appraisal was 68.4% and the new loan to value was 70% which Jeff said was not good enough and with the rate change it didn't make sense to refinance anymore even though I was shortening my loan term. Do yourself a favor and do not subject yourself to dealing with this company. Horrible!
I've had many loans throughout my life, and I have to say without a shadow of a doubt that dealing with Flagstar has been the absolute worse experience by far. Here are just a few of my complaints. They want you to show proof of insurance every year (which is normal) but they don't work with your insurance agent, they make you prove it to them by faxing or email in the form to them every year and charge you if you don't. If you want a payoff amount, they charge you $30 for them to fax you your payoff. They will not give you a payoff amount over the phone.
In 10 years with them I incurred one $30 charge and I asked them to kindly remove the charge due to my 10 years of paying on time, and they refused. The customer service agent was rude to me when I misspoke and gave her my mailing address instead of the property address when verifying my identity. For 10+ years I have been a perfect debtor, paying on time, rarely asking them for anything, and if they treat me this bad when things are good, I can only imagine how they will treat me when things are bad. In my opinion, IF YOU HAVE A CHOICE, PLEASE STAY CLEAR OF THIS COMPANY.
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I had an escrow overage I didn't even know about since I never got my escrow statement. So I called end of October. "Don't worry about it we will take care of and you will get a check next week." Called 10 days later, no check. Nothing was ever done. Now I have to wait again. There is a holiday coming and they refuse to FedEx the check to me. They have the most incompetent people working the phones and they don't care about you as a customer at all. As soon as I get my check I am refinancing to go somewhere else. Worst mortgage lender ever.
Flagstar's 'customer service' is horrific!!! If you have another choice, any choice, I implore you to go with them. If I would have read a review like this before I signed my mortgage with them I could have saved myself from immeasurable pain and headaches. On top of not caring about their customers, making them wait FOREVER on the phone and being rude, they are completely inept at their job. TAKE YOUR BUSINESS ELSEWHERE!!
After experiencing financial difficulties we requested a loan modification and after spending all required documents we were denied time and time again. After being served foreclosure papers our only option was to file chapter 13 bankruptcy in order to save our home. Fast forward two years later and our home was a total loss in a fire. We paid Flagstar in full $90,000 and never received one piece of paper from them.
5 years later we call Five Star to try to get a title release on our land and they tell us it was paid in full in 2011 and foreclosed on in 2013. No one at Flagstar seems to know what is going on or how long it will take to fix it. So here we are still trying to get a clean title on land that's been paid in full for over 5 years and nobody can give us any answers. We have retained an attorney and are going to be seeking damages for slander of title with Flagstar Bank.
Our loan began to increase due to property tax increase so when I lost my job of 7 years we filed for hardship modification. Never having messages returned. Always something not completed then paperwork lost, money returned. Foreclosure their goal. So we hired a lawyer and paid him the money. After being granted a affordable payment and lower percentage rate nothing was adjusted as far as the endless fines and late fees. However we were assured it was put to back of loan. Months later I was informed our payment doubled due to escrow. A payment higher than ever that now has us back on their list for foreclosure. I discovered when I opened my statement to mail my payment they had returned my last two money orders refusing payment. So I shall seek further legal representation and warn everyone this company is not what they claim to be. Beware!
I bought a second home in Naples, FL a little over two years ago. All documents including evidence of all required certificates of insurance were provided and deemed satisfactory. In April of 2016 force placed flood insurance premium was added to my loan escrow charging me an additional 2452.39 annually. When I realized the problem I contacted the broker and property management company. The insurance agent sent additional certificates to the bank which they said "were under review". In July they replied this wasn't an acceptable flood insurance. However it was exactly what was acceptable when I bought the home and the only coverage available to the public through the FEMA program.
After being threatened with damage to my credit and late fees being assessed to my account and hours of phone calls and emails the Flagstar Bank insurance department decides the insurance is acceptable. I get a letter saying we have canceled the flood insurance for one of three reasons. 1) we sold your loan, I WISH !!!, 2) you paid it off 3) evidence of insurance was adequate The insurance dept is set up to do nothing more than steal from the customer. The persons in the dept making the decisions about adequate insurance are not available to talk to a client, even when presented with what they asked for but are failing to understand on any basic level. I own an insurance agency and was able to understand how to help myself. Most consumers would be taken advantage of here and not know it. Flagstar needs some serious attention and not in a good way. Maybe take a lesson from Wells Fargo!
Sent letter saying refinance application was approved. Then they collected my 500.00 for appraisal. Then they came back and wanted a bank account showing at least 5,000.00 in it. They should have stated that in the beginning. What a waste of my time and money. Will not ever refer anyone to Flagstar Bank for anything. Credit score went from 626 to 525 after they pulled my credit three times and after I spent two days working with credit bureaus trying to get a dispute status cleared up. My accounts are current but status dispute is why they said application denied after four months of all this crap.
I purchased my home a year ago and was told that after one month my mortgage was sold to Flagstar. My payments at the time were 2840 per month. I was told immediately that if I pay 400 dollars due to an escrow shortage that my payments would be reduced to 2760. Of course I took the bait. Taxes on my house were 9600 at the time. Fast forward to a year later and I get notice that I need to pay 2800 dollars again due to an escrow shortage or my payments would go up to 3200, if I paid my payments would only go up to 2970.
I had a mortgage prior to this for 10 years and NEVER experienced anything like this. When I inquired they said my taxes went from 7500 to 10,100. I GET taxes rise but why was I only being taxed on 7500 in the first place. Needless to say I contacted a very incompetent customer service rep to let them know what a HORRIBLE position they were putting me in. Good news is my house's equity has gone up 75K since I bought it and I'm currently in the process of refinancing! STAY AWAY, you have been warned. I went in open minded but it's been nothing but chaos and disorganization.
Been there, I applied for a mortgage to purchase a home in Florida. I told them I am interested in selling my current home in RI but needed to secure a job in Florida first. The bank assured e this would not be a problem. Went on with the loan only to go around and around with the bank. First they said the appraisal did not come out good and the home was scored as a C5. First of all they refused to let another agent attend the appraisal while my agent was on vacation and knowing the power was only on for three days because it was a Hud home came to appraise the home when the power was off.
Needless to say the appraisal was bad. Then the loan officer recommends we try for a FHA loan knowing I could not promise to have a job in Florida or my home sold in RI. So far I lost an inspection fee and appraisal fee. Then he had the nerve to ask me to do another appraisal for FHA. When I asked for my denial letter for the first conventional loan. They told it was not denied. Now I stand to lose my down payment. I do not know where to turn as they will not answer me. They just keep saying I was approved. How could I be approved wit a bad appraisal and HUD was never notified of the FHA loan.
It appears that the appraisal companies these guys use are not very experienced and as far as giving documents. I have to agree. I have been asked several times for the same information. I guess it does not matter that I have 1,600 in inspections fee lost and now I am about to lose my deposit. My current mortgage is with Flagstar and I will make ever effort to close my relationship with them. I recently opened a credit card with them. I will have that closed as well.
We had hail damage in the Spring of this year and submitted a claim to our insurance company Western Mutual who were prompt and professional in sending out an adjuster and mailing us a check to make repairs. To our misfortune we have our mortgage with Flagstar Bank whose Claims section has a bureaucratic process worse than the Veterans Administration.
After more than 4 weeks, we finally satisfied their folks and Larry ** said everything was ok and he was just waiting for a payment code. I asked him by email to please use Priority mail and send me the tracking number which was ignored. Almost 3 weeks later and no check and numerous emails asking for a status ignored. Only recourse is to complain to our insurance company and ask them to intervene somehow plus next week we are filing a complaint with the Better Business Bureau.
Flagstar Bank has to be the most unorganized mortgage company. I've been trying to complete a short sale since Jan. First off I started faxing every document that they required. I would call to check the status, they got this didn't get that. My realtor would call the next day and was told they hadn't received anything. They still operate with an old system. You can't scan documents to them. So I then started overnighting the paperwork which was expensive but I was able to track it because a signature was required. That too didn't work. I'm not sure who was eating the papers. After I fussed and fussed magically they had all my papers, on to the appraisal. They sent one person out who I think just stood in the doorway of my home as I was at work and was unable to go through the property with them.
You know they wouldn't give you a tone as to when they were coming out so someone could be there. That didn't go too well as the appraiser provided what I believe to be false information. Had to request another appraisal. It was finally done in May. Now we are getting the run around regarding the approval letter to move forward with the short sale. My realtor call at least 3 times a week and is being told different things with each phone call. When I call to express my concerns I'm sent to someone who always say they understand my frustrations but he states he would call me back with an update and here it is 3 weeks later and I hadn't heard from him or anyone at Flagstar. You couldn't beat them calling when you're late with that mortgage payment.
This has got to be worst experience I've had dealing with a major company. Fast forward to today when asked "who do I file a complaint with it. Can I get the information to your quality assurance company." I'm told "oh just send the email to me and I will send it to the appropriate person." I laughed and said "ummmm no I'm not comfortable sending you anything as you told me you were going to call me 3 weeks ago." I then asked to speak with whomever is over him and then told "oh he doesn't have an email that can be given out." Another lie. I'm going to make it my business to spread my frustration regarding Flagstar to whoever. They are ridiculous and does not value their customers.
Obtaining my mortgage with Flagstar was extremely frustrating. They could not tell me what information I needed to submit for approval, but I received daily requests for further information from a woman who refused to answer the phone or return my e-mails. After being approved for closing, the daily requests for new information continued. Even after I had provided all information, a HUD statement was not issued until the day of closing, and 2 hours prior to closing I got a call that they had miscalculated my taxes and I would need to provide a personal check for $300+ dollars (the downpayment had already been deposited to the title company).
One hour after closing started and I got a call that they could not approve my mortgage because they considered I did not have enough funds for the downpayment (which, remember, I had already paid by certified check). So there I was, with the sellers staring at me, furiously arguing with Flagstar that I was approved for closing and I had to close that day. One hour later, I got a call from someone else stating that the issue was a large deposit into my checking account which had not been reviewed by Flagstar (a check issued for my prior home's sale, for which they had a closing statement).
Long story short, 4 hours later we could not close because Flagstar could not issue the HUD statement for our review. Then, they wanted me to email the closing statement from my prior home's sale (which they already had) to a list of 7 people, none of which I had dealt with before. When they finally issued the closing statement, my $300+ deficit had turned into $1,000 they had overcalculated and I was to get back. I had my accountant review the statement once we finally had it, and the actual amount I was to receive back from Flagstar was $1,500+. We ended up being able to close the next day because the sellers were extremely kind and the title company assured them I had already deposited the downpayment and the check had cleared over a week before.
One year into my mortgage and Flagstar has twice defaulted on home insurance payment. That means I need to pay out of pocket for insurance that I have already paid through escrow, wait for Flagstar to get their act together (it takes about 6 weeks for them to review my escrow and issue payment to the insurance), and then hope the insurance company will reimburse the overpayment. Why do I need to pay every month for escrow when they refuse to pay the things they are bound by mortgage contract to pay out of escrow?
Honestly, I wish I had never gone with Flagstar. Yes, their rates were lower than other lenders and I thought I would be saving some money. But I am so aggravated at every interaction I have with them that I am moving my mortgage elsewhere, even if that means a slightly higher payment. If you must go with Flagstar, take care of your own insurance; they will not pay on time.
Tried to complete a loan modification after 9 years due to hardship. After nearly losing our home for being denied we retained a lawyer who stopped the foreclosure. We were granted the loan modification and a new lower interest rate. Our new payment amount was exactly what I had hoped for. However only 3 months later certified mail informed us our new payment would be higher than it was before. Now we just received another certified letter increase. After 10 years our balance has decreased 5,000. We have paid over 50,000 but according to Flagstar only 108.00 comes off of principal. I'm going to make a formal complaint, see my lawyer once again, and call Flagstar so I can be transferred around. Do not use this Bank.
Stay away from this bank - worse cust service and cons in every way. STAY AWAY. YOU HAVE BEEN WARNED.
They are constantly losing payments and it's my responsibility to trace the payment and send them proof that they received AND cashed the payment. They just conveniently forget to post it to the account. Every time I call, I get rude responses. I call to straighten things out and they talk down to me like I am the criminal. This is the second time I have to trace a check that they cashed and did not post.
My husband and I have a checking account with Flagstar... where does the nightmare begin. We ended up getting hit with multiple overdrafts because of the way they process things. They put a hold on my husband payroll check. We ended up going into their fresh start program (which is also a nightmare). Supposedly while we were in the process of setting up our new account, they paid a bill for us that we had set up in bill pay (now according to my checking statement - this payment was returned). They payment was to the IRS for our taxes. This was back in October.
Friday (2/19-16) they withdrew $150.00 from our account stating that they were covering our payment. They gave us no warning whatsoever that they were withdrawing the funds. We showed no record of owing them $150.00. My husband just got off the phone with the IRS and they show no record of receiving a payment for $150.00. So who did Flagstar pay and on whose account. They went into our account and withdrew money that we did not owe them. When my husband call the bank, the assistant manager said that they could withdraw money at any time from our account. This bank needs to be seriously investigated, they are doing things completely illegal.
I've been with this sorry bank for 11 years and I have never have 1 missed or been late payment in 10 years. Recently I lost my job and was behind on 2 payments. I tried to request a modification on my loan because I'M experiencing hardship, and twice I've been denied for reasons that make no sense like I'M showing a revolving credit card on my credit that by the way has been closed for 5 months now!!! Although I've sent them documents showing that the credit card is closed they still refuse to help me out in my hard times. To make it worse I got caught up in a interest only loan at 23 years old and now 10 years later, I've paid over $120k toward interest only, with only $10 going towards my principal balance. Smdh. They won't let me get out of my loan, they want to force me out of my home by sending me other options like short sale, etc. I would never ever recommend anyone to apply for a mortgage loan with this sorry ass bank!!!
This is one of the sorriest banks I've ever dealt with. All they care about how much money they can swindle out of people. I got laid off from my job but had another one lined up but I missed about 3 paychecks. Every other bank I've ever dealt with would move one payment back to the end if you got into a bind. NOT this crappy bank, not only did they not care I didn't have income coming in and wanted their money no matter what, they started adding late charges to it and I was struggling to just come up with the money to pay it. DO NOT deal with this bank. They have to be the worst bank in this entire world, read all the reviews unbelievable, I wish there was a way to shut them down!!!
I recently notified Flagstar bank, the servicer of my mortgage loan that I am medically disabled and have not done any full-duty work since 2008. Prior to my disability, I had never had a late payment, roughly seven and a half years. I submitted a loan modification with the hope of lowering my interest rate thereby lowering my mortgage payment. This would better reflect my financial hardship and my ability to make continued payments. Unfortunately, I was denied! Under the HAMP Tier 1 program stating that the property is not my primary residence as a means of denial. However upon further review, I looked up eligible programs that I was not considered for nor was I made aware of this. Flagstar never initiated or attempted to see if I qualified for any other program of assistance.
Based upon the HAMP Tier 2 program, I do in fact qualify for a loan modification. My loan originated before January 1, 2009. Borrower (myself) did demonstrate and document a financial hardship. Rental properties occupied by a tenant or available for rent on a year-round basis. I am clearly eligible for this program and yet was never notified by Flagstar.
A couple of year ago, I refinanced through Cal Mortgage. Prior to my first payment to Cal Mortgage, they sold my loan to Flagstar. Cal Mortgage sent me the address for Flagstar to mail my payments. I made my payment to Flagstar as scheduled with Cal Mortgage. When I received my payment schedule from Flagstar, I noticed that my payments actually started a month later than they had with Cal Mortgage. I went online to Flagstar confirm this and then also called Flagstar to confirm. They told me that I was a month ahead on my payments. I skipped my next payment, paid off some other debt, and began making my payments according to Flagstar's schedule with no problems. All of my statements indicated that my loan was being paid on time.
Seven or eight months later, Flagstar contacted me and informed me that they had made an error in processing my loan and that I was actually a month behind in my payments. Because it was their error, they agreed that they would not be charging late fees and they would give me a reasonable time to catch up on the extra payment. I informed them that at the moment I had no ability to make an extra payment, but within a couple of months I would be receiving some extra pay from my employer and I could pay the extra payment then. They were very nice and apologetic on this phone call and said that a couple of months would be fine.
An hour later, I got a call from their loan counseling department saying that I'm behind on my payments and I need to take care of it. I explain the call that I received an hour earlier and they seemed ok with that. Two days later another call and again I explain the situation. This continued 2-3 times a week. I talked with their counseling department manager and ask if they can remove my name from their call list, as this was their mistake. She says it's not possible. They continue calling me.
When I go to make my next online payment, my account has been frozen because they think I'm delinquent. Again I call their counseling department and ask if they can unfreeze my account so I can make my payment. I am told no I have to bring my account up to date in order to unfreeze my online account. Me -- "So even though you acknowledge that this was your error, you're still going to freeze my account?" Them -- "Yes, we have to." They told me that I have to make my payments by phone to an actual person.
I continued to make my normal payments (having to do it by phone) waiting to receive my extra check. Their calls continue 2-3 times per week and each time I explain the situation and ask them to stop calling me. They continue to call. Finally, I stop answering them. In the meantime, I applied for a refinance with another lender and my refinance was approved. I answer the next call that I receive from them and tell that my loan will be paid off in full prior to the normal due date of my next payment.
A couple of days later I receive a letter stating that I am in default and they are going to foreclose on me in 30 days. This letter came slightly more than two months from the point that they told me of their accounting error. Mind you, disregarding the extra payment caused by their error, I have never made a late payment.
When my escrow officer (for my new loan) calls to find out the payoff amount to Flagstar, she explains the payment situation. Although the woman at Flagstar is very impatient and terse, she assures my escrow officer that the payoff amount will not include a penalty fee for any late payments. When the payment demand comes from Flagstar, it includes late payment fees. I tell my escrow officer to just pay it. It's only a few hundred dollars and I don't want to delay my escrow. I'm just glad to be done with Flagstar.
Well, not quite: Three months later, I apply for a line of credit with my bank. I get denied because of a low credit score. I'm befuddled, because when I refinanced three months earlier my credit score was excellent. I ask my bank agent, "Is there is anything bad from Flagstar on my credit report?" He tells me, "Yes, it's clearly the stuff from Flagstar that has brought your credit score down." I spend another hour on the phone with Flagstar getting them to correct my credit rating. While the woman I spoke with was vey nice and apologetic, it still took them two weeks to correct it and delayed my line of credit.
I've had a mortgage with these clowns since 2008. I have never once been late, not one day. My insurance agent sent them a copy of my Dec page each and every time I paid the premium. FSB continued to charge me for their insurance, they took out all on their own, to the tune of over 2K per year. I called repeatedly and got the run-around each and every time. One rep told me they owed me some money back. I said, "Duh". After waiting endlessly on one of the bozos to answer the phone, I got a promise that they would open an investigation and get back with me within 30 days. Guess what. Never happened.
So, I've recently sent them a check for my account history where it clearly shows they were committing insurance fraud by charging me for insurance when I already had proved to them over and over that I had insurance. I'm not going to work with them anymore. Instead, I'm calling my State's Attorney General and my State's Insurance Commissioner and demand an investigation be opened. I want a number assigned to it as well so I can track progress. Meanwhile, I'm going to sue FSB in small claims court and claim fraud which will allow me to recover 3 times my damages if I prevail. I am now in the process of finding another mortgage company to service my loan. These people should be fined heavily, order to make restitution to their clients and shut down.
My son's mobile home was destroyed by fire 2/19/2014... Flagstar was given a 100 thousand dollar check around Sept. of 2014 from insurance company... just found out they foreclosed on loan in July 2014.What happened to the 100 thousand dollars? Can't get no one at Flagstar to talk about it... heck you can't even get them on the phone... if you do they put you on hold and never return.
I did a home loan modification with Flagstar Bank. It took two and a half years to complete. After it was complete I'm paying more now than I was before I had the home loan modification.
1. Flagstar personnel cannot manage paperwork, lose materials.
2. I believe they give "false" loan modifications in some way.
3. Personnel are not held accountable for their mistakes.
4. Flagstar cannot seem to manage the typical duties and responsibilities of their business resulting in significant errors.
I've had my loan with Flagstar since 2012. I ran into some financial problems due to work, etc in 2012. I contacted Flagstar to inform them that I had lost my job and they told me to request a loan modification at that time, they never asked me if I could still make my house payment, but told me to ask for a loan modification. They sent a package to me to complete and mail back to them in Dec. 2012. I was also told, "hold off on the payments for now, they will back load them after the process is complete." So we did. We waited AGAIN for the 30, no, 60, no, 90-day period to pass for the modification to complete. Upset by this idea, I again obliged. I expected something like this since it was strange we were told not to make payments this time.
I completed all the paperwork, which I continually had to resubmit because they "lost" or misplaced faxed or mailed documents multiple times (even though they were all clearly labeled with my name, address and loan number). A few months later I was denied the modification because of an incomplete package. I sent them the paperwork they claimed was missing just to find out they already had them, but it was too old. Just about every three to four months I have had to reapply because of an expired package, this has been going on since Dec., 2012. This process has taken well over two years. They CONSTANTLY lost paperwork. I had to resubmit the same documents multiple times. Always labeled correctly and I would call to confirm receipt. Yet they were still missing.
Customer representatives would tell me one story and the next day I would hear an entirely different story. No one had the same information to provide - and some would straight up lie and give wrong information, like on my last try. I submitted my package in on April 14th, 2015 and called every week to check on it. Well in the third week of April, I was told that they had not yet looked at my package, and on the 30th of April again they didn't have time but would call me if anything was missing. I called again the first week of May and again in the second week just to be told that they had just finished reviewing and were going to walk it thru to the underwriter and that they will be calling me if it was approved or disapproved, to give them a few day to look at it.
Well I called again on 22nd of May just to find out it had been disapproved on the 30th of April, because the underwriter had requested a form from the V.A. and the V.A. had not given it to them. When I called the V.A. and asked why, the V.A. stated that they were never connected by Flagstar and that they would call them and find out what form they needed. I was also told that my house would be going up for sale on the 27th of May 2015. This only gave me a day and a half to get whatever they needed to stop the sale, which with V.A's help we did it. I would love to find out if this is an American Bank or what to throw veterans out on the street on the day after a veteran holiday. Now my new sale is on 13th of July, but still waiting for my loan modification. Well here it is July 16, 2015 and Flagstar finally approved my loan modifications, and it was just as other had wrote. My interest went up 1.5 % and my payments went up $200.00 a month.
Flagstar issued me a overpayment in escrow fee refund in Nov. of 2013, only to bill me 4 months later for double the refund. To correct the mistake, Flagstar upped my monthly mortgage payment from $1941.85 to $2774.75. To date, Flagstar has ruined my credit, issued 3 bogus loan remods, and gone back on all agreements.
I accidentally sent out my mortgage twice. After the first check was processed, I called Flagstar and they said they could hold it until the first to go toward the next month's mortgage payment. I was very specific with my questions. Prior to ending the call I repeated to the lady helping, "So my check will not be processed until after the first." She said "Yes". Lo and behold five days later we get emails about overdraft and overdraft fees. I should have known better because she wasn't very convincing. Next time I'll just call my bank.
Then I called and spoke to Caroline ** who was not helpful at all and very rude. Telling me so sorry and not convincing at all, she doesn't care about her customers. I asked for her name and last name. She refused to give me her last name. What kind of company doesn't allow for their employees to give out first and last name? She's a liar and very unprofessional. Flagstar just wants your money and could care less about the people behind the payments. I'm very disappointed I had one simple problem and wish they had been honest with me.
Flagstar Bank Company Profile
- Company Name:
- Flagstar Bank