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Flagstar Bank

Flagstar Bank
Overall Satisfaction Rating 3.43/5
  • 5 stars
    68
  • 4 stars
    86
  • 3 stars
    36
  • 2 stars
    21
  • 1 stars
    65
Based on 276 ratings submitted in the last year

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    Flagstar Bank Reviews

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

    My mortgage loan was sold to Flagstar Bank and it’s been the worst thing that could have happened to me. I’ve been trying to get out of the forbearance plan since last year and no one has been able to do it, it’s been call after call doing what I’ve been ask to do and nothing is done.

    Flagstar Bank response

    Veronica, thank you for giving us another opportunity to address your important concerns, we want to help you answer your questions as quickly as possible. As we cannot gather your personal information on this platform, we encourage you to reach out to our team on our Facebook (https://www.facebook.com/flagstarbank) or Twitter page (https://twitter.com/flagstar) and send us a private message with your contact information so we may put you in touch with a supervisor.

    Be the first one to find this review helpful
    Rated with 1 star
    profile pic of the author
    Verified Reviewer
    Original review: April 16, 2021

    We give Flagstar Bank -0 Stars. We opened a business checking account, deposited over $10,000. We had a 5 customers' bank place a stop payment on their checks and Flagstar Flagged our account and Claim it's under investigation, but when we call they give us no information, they just forward the call to another department and tell us they'll contact us. It's been 3 weeks and no one has contacted us. We are reporting this bank to the BBB, FTC and Law enforcement for retrieval of our funds.

    They are keeping this account open against our company's wishes, they have Extremely poor customer service, Unprofessional and Racist Bankers at their Michigan branches. Overall this has been a Terrible experience! We do not recommend this bank for new customers and businesses. Please do not open ANY account with Flagstar Bank, because they will take and hold your money without notifying you or providing any information. Release our funds and close our account.

    Flagstar Bank response

    Thank you for taking the time to give us your feedback. We understand your frustration and would like to learn more about your experience. As we cannot gather your personal information online, we encourage you to reach out to our team on our Facebook (https://www.facebook.com/flagstarbank) or Twitter page (https://twitter.com/flagstar) and send us a private message with your contact information so we may escalate your situation to a supervisor.

    2 people found this review helpful

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      Rated with 1 star
      Verified Reviewer
      Resolution response: April 12, 2021

      After many hours on the phone and transfers to numerous departments, this issue was resolved. While I am relieved to have this taken care of, I am still very dissatisfied with my overall experience. There has been one issue after another when my load was transferred. The process has been extremely time consuming and stressful.

      Original review: April 8, 2021

      I wish there was an option for negative stars. My home loan was sold to Flagstar a couple of months ago and it has been a series of nightmares ever since. The latest has been finding that my property taxes were not paid from my escrow account and I now have accrued interests on late payments. To make matters worse, there is not evidence phone number to get customer support or any useful information on the website so I do not know how to resolve the problem.

      Flagstar Bank response

      We understand your frustration and would like to learn more about your experience. As we cannot gather your personal information online, we encourage you to reach out to our team on our Facebook (https://www.facebook.com/flagstarbank) or Twitter page (https://twitter.com/flagstar) and send us a private message with your contact information so we may escalate your situation to a supervisor.

      3 people found this review helpful
      Rated with 1 star
      profile pic of the author
      Verified Reviewer
      Original review: March 20, 2021

      This company goes far beyond horrible!! I've been working since October to try to change my loan after the hardest year my family has ever faced. Submitting everything they asked for and literally as I spoke with an agent. Had to attain counsel before anything really has been done at all. I can't even begin to explain the additional hardship this company has caused my family. I've never in my life been treated so poorly. Having to call in multiple times to get an agent willing to actually do any work. Put into a plan that would raise my mortgage to 90% of my guaranteed monthly income which I had explained multiple times and submitted proof that our pay rates vary and that I had lost my job during the pandemic and have not been able you return. Even though I had sent not 1, but 3 appeal letters stating that I didn't want to be in it.

      Was Finally asked the 5 questions that are supposed to be asked as soon as you file for help which for me was October and, it is now March. Also this only happened and, was only escalated after I attained counsel. Customer service reps blame one another for constantly changing rules and terms. One would tell me nothing was needed, then a week later would call back(have been calling weekly and now daily) and be told they needed the thing that the other rep said was all good. I've sent in multiple complaint letters to have on record the treatment I've been receiving and keeping detailed records of whom I speak with, when, and what was said that I've given to my lawyer to review.

      I've never in my life seen a company who truly cares so little about their customers. A person should not have to obtain outside help before a company begins to do the work they've been paid to do. I've been told either 2 weeks or 4-6 weeks since mid December. I've been promised call backs and updates since October I've received a total of 3 calls 2 of which I had left a voicemail first. I've had my case closed out causing two extra weeks of headaches trying to re-open it. I've been told to just hold on they're doing everything they can....

      I believe this company is a complete sham and 98% of the staff should be fired, or re-trained. Sadly, my loan was sold to this joke of a company that I'm going to do everything I can to get away from!!! Seriously buyer beware because, if you ever face hard times this company will jump on the chance to take advantage of any hardship you've already faced and multiply it ten times. There aren't enough bad things I can say about this company I truly wish I could give 0 stars here. It's heartbreaking how this company preys on the vulnerable.

      Flagstar Bank response

      Thank you for taking the time to give us your feedback, Elizabeth. We understand your frustration and would like to learn more about your experience. As we cannot gather your personal information online, we encourage you to reach out to our team on our Facebook (https://www.facebook.com/flagstarbank) or Twitter page (https://twitter.com/flagstar) and send us a private message with your contact information so we may escalate your situation to a supervisor.

      2 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: March 16, 2021

      My original mortgage was with Chase bank, but my mortgage was sold to Flagstar Bank. We recently had two major hurricanes to move throughout area. The second cause a tree to fall on my house and a second tree in my yard, taking out part of my fence. I paid to have the trees removed before the insurance could even come out, since the tree was literally through the roof. The insurance agent did a great job on his assessment and payout. Of course the check was made to us and Flagstar. I have dealt with this with other properties, so I really was not worried.

      That was in November 2020. It is now March 2021 and I have yet to receive and funds from Flagstar. I have a roofer waiting, but I cannot get them to start until I receive money to pay them. I paid for the tree removal out of pocket and have yet to be reimbursed for that as well. I have submitted all the required documents to Flagstar. Then I called and was told two documents from the roofer were incorrect. The roofer redid these documents and I mailed them in. They received the letter I sent, but not the documents, which were all together.

      At that point, they informed me that one of the original documents from me was missing. So this time I faxed the supposed missing document along with the roofer's documents. Three days later, they still had not received them. The representative gave me another number to fax them to, so I did. I waited five days and contacted them. They received the cover letter and a two page letter of explanation I included, but not the required documents.

      Every time I call, I get a different response to the same questions. The last time I called, the representative just kept repeating my questions back to me and saying they needed the required documents. I told her repeatedly that I have mailed and faxed them twice. All I want is my house fixed. I pay for homeowner's insurance for this reason. I would hope that Flagstar would want the property fixed as well, but it does not seem that way.

      In addition to this difficulty, they require separate forms for each contractor for each repair prior to releasing a check to the contractor. So the oversight of the homeowner is useless. Water is still getting in my house every time it rains causing further damage, but again Flagstar is not concerned about the property. If you are looking for a mortgage, a bank, or any financial service that Flagstar offers, save yourself the time and hassle. I have lost a great deal of sleep over watching my home that I love sit in disrepair.

      Flagstar Bank response

      Thank you for taking the time to give us your feedback, Justin. We understand your frustration and would like to learn more about your experience. As we cannot gather your personal information online, we encourage you to reach out to our team on our Facebook (https://www.facebook.com/flagstarbank) or Twitter page (https://twitter.com/flagstar) and send us a private message with your contact information so we may escalate your situation to a supervisor.

      2 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: March 14, 2021

      I set my account up for bi-weekly payments, little did I know that it would not cancel my monthly mortgage payment. So it pulled my payment twice/Initial phone call was great, they cancelled this for me right away so it wouldn't happen again. I sent in my form asking for an EXPEDITED refund of my mortgage payment since it pulled twice. This was pulled back on 2/27. I sent the form in on 3/2. Here we are now on 3/14 and it STILL has not been refunded. Terrible customer service as I emailed for an update.... They told me I need to call them for an update. You would think they could pick up the phone and tell me when it will be processed since I asked TWICE for an expedited refund.

      Flagstar Bank response

      Thank you for taking the time to give us your feedback, Leane. We understand your frustration and would like to learn more about your experience. As we cannot gather your personal information online, we encourage you to reach out to our team on our Facebook (https://www.facebook.com/flagstarbank) or Twitter page (https://twitter.com/flagstar) and send us a private message with your contact information so we may escalate your situation to a supervisor.

      2 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: March 9, 2021

      We purchased a new home November 2020 and our loan was sold to Flagstar Bank before we could even make our first payment. We have not been late on any of our payments on this mortgage or the mortgage we hold on our other property with Wells Fargo. Today I get a phone call from the Flagstar Bank collections department wanting to know if I had made my mortgage payment yet. Our credit scores are over 700 and we have a 16 day grace period as with all standard home mortgages. I have never in my 27 years as a home owner with a mortgage had a lender call me to collect my payment while still in the grace period. I found the phone call to be harassing and insulting. We will be refinancing my mortgage even if it means paying a higher interest rate.

      Flagstar Bank response

      Thank you for taking the time to give us your feedback, Dawn. We understand your frustration and would like to learn more about your experience. As we cannot gather your personal information online, we encourage you to reach out to our team on our Facebook (https://www.facebook.com/flagstarbank) or Twitter page (https://twitter.com/flagstar) and send us a private message with your contact information so we may escalate your situation to a supervisor.

      2 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: March 9, 2021

      We have been working on a refinance with them since October 2020. Our original mortgage was sold to them and they contacted us saying they could refinance it at a lower rate. We have supplied statements, paystubs, two appraisals, all documents. They have asked for the same things countless times. One time they asked why we had a large deposit every month in our checking account. I told them that was when I deposited my paycheck... Now we have done everything necessary and no response from emails, phone call lately. By their own schedule, we should have closed the loan two months ago. A little communication saying what their plans are would go along way. I am regretting being this patient with them this long.

      Flagstar Bank response

      Thank you for giving us another opportunity to address your important concerns. We would love to help you get this resolved as quickly as possible. As we cannot gather your personal information online, we encourage you to reach out to our team on our Facebook (https://www.facebook.com/flagstarbank) or Twitter page (https://twitter.com/flagstar) and send us a private message with your contact information so we may escalate your situation to a supervisor.

      2 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Feb. 18, 2021

      I've been a Flagstar customer for over ten years and the past year has been the worst ever. They put a hold on my account and told me I had until Thursday to come in. I checked my account and they've returned all my deposits to senders. Now all my bills have late fees and they closed my account for no reason. I really think it's this branch I go to since I've moved. They seem very racist. WORST BANK EVER!

      Flagstar Bank response

      Thank you for giving us another opportunity to address your important concerns. We would love to help you get this resolved as quickly as possible. As we cannot gather your personal information online, we encourage you to reach out to our team on our Facebook (https://www.facebook.com/flagstarbank) or Twitter page (https://twitter.com/flagstar) and send us a private message with your contact information so we may escalate your situation to a supervisor.

      4 people found this review helpful
      Rated with 1 star
      profile pic of the author
      Verified Reviewer
      Original review: Feb. 16, 2021

      Missed 1 payment due to cancer situation. Then covid19. This bank could have cared less. Due to no exception allowed, I could not get them to remove 1 late payment to restructure my finances to keep from destroying my credit history. They didnt care and now I am in a finance collapse due to their horrible business practices. 1 missed payment after several years. Just shameful. Would not recommend them to anyone!

      Flagstar Bank response

      Stephanie, thank you for giving us another opportunity to address your important concerns. We would love to help you get this resolved as quickly as possible. As we cannot gather your personal information online, we encourage you to reach out to our team on our Facebook (https://www.facebook.com/flagstarbank) or Twitter page (https://twitter.com/flagstar) and send us a private message with your contact information so we may escalate your situation to a supervisor.

      2 people found this review helpful
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      Flagstar Bank Company Information

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