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Flagstar Bank

Flagstar Bank
Overall Satisfaction Rating 1.19/5
  • 5 stars
    2
  • 4 stars
    0
  • 3 stars
    0
  • 2 stars
    3
  • 1 stars
    63
Based on 68 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
    profile pic of the author
    Verified Reviewer
    Original review: July 24, 2020

    I have an existing mortgage with this Company and trying to finish a refinance, I have had nightmare more pleasant than this process. I completely understand and I am sensitive to the fact this is a weird and crazy time. However, it isn't an excuse to treat your customers poorly. Here is my experience: The start of the process was super quick. I received my appraisal back and was getting ready for my final approval and closing within 45 days. Then the processors were sending the title work to the title companies incorrect emails address and it was sent back 3 times. I called the title company and was able to resolve the issue. Get the information to the title company and they finish the process within 3 days. I am guessing this upset the bank, they don't enjoy speed. The longer they could keep my paying the higher interest rate they are putting more money in their pockets, I am worth more at a 5% Interest rate at 30 years than I am at 2.6 at 15 years.

    **Also the loan processor told me if the rate goes down, they will give me a free buy down to the better rate. I locked in at 2.625 over the 120 days, I could for no extra points get to 2.250 but yeah, they couldn't make the math work. Interesting!!! More about the math below: So from day 45-120 the process stops. I pay 3 additional mortgage payments. Then get an update, the process is almost done! But they miscalculated some money due to Escrow and I need to come up with over $4,000 because of an error on there part and closing is in 12 hours... The nightmare continues.

    Apparently, they are doing the math on paper and have not heard of Excel, calculators or any sort of device that can computer simple calculations to get more accurate expense projections. This was only a $4k error no biggie... They let me know this and then all of a sudden, also we have to push closing back again.. Long story short, if you want to have a mortgage with this company do yourself a favor. The first estimate they give you, go ahead and plan for the process to take 3-5 months and calculate it is going to cost you thousands more dollars than what they tell you initially. Typical bait and switch technique.

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    Rated with 1 star
    Verified Reviewer
    Original review: July 20, 2020

    I was hospitalized for over 1 month, INCAPACITATED and was 15 days late on 1 payment. I sent several faxes to their dispute department and STILL have not heard 1 word back. WOW, I am shocked at the level carelessness Flagstar Bank has for physically ill customers. Not to mention I'm a NYC healthcare worker and have been traveling to work DAILY. Thanks for nothing Flagstar.

    Flagstar Bank response

    Thank you for taking the time to give us your feedback, William. We understand your frustration and would like to learn more about your experience. 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: July 20, 2020

      Flagstar does something that I feel puts the lives of their account holders at risk. They will shut off your access to funds without contacting you. I had my access to my account shut off this weekend for "security reason". The issue, I tried to buy some subs from Jersey Mikes online. Ridiculous!!! No one contacted me. They just froze my account and let me figure it out on my own. What if I was at a bar or restaurant where you have to pay after the service. What if I was traveling alone and need gas in the middle of nowhere. They cut off my access to money and just assume I'll figure it out and call them on Monday. This is a horrible policy and should be ended. I am done with this bank because I have no confidence when I step up to pay for something that they haven't locked my out of my account.

      Flagstar Bank response

      Thank you for alerting us to this issue, Tim. We understand your frustration and would like to help. Please reach out to us at (888) 248-6423 during the below times to speak with a representative who can help.

      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
      Resolution In ProgressRated with 1 star
      Verified Reviewer
      Original review: July 10, 2020

      This is going to be a LONG review but I want to be sure y'all understand who this company is! Run, fast and far as you possibly can for you and your family's own good! This company is nothing but scum!! Here we go... My husband D (shorten named not important) is a Veteran of the United States Marine Corp. Nov. 2017 we closed on our first home we built together from the ground up. Shortly after closing on the house we were sold to this horrific company (and horrific is being mild!). Everything was going well. No issues at all. Until our daughter started having weird medical problems, we could not figure it out. Hospital trip after trip (via the 911 Ambulance), ER visit after visit. We finally know now what was going on with her, but in this process we got 1 month (THAT IS RIGHT 1 MONTH BEHIND).

      We continued to pay the house 1 month in arrear, whatever no biggy. Well, wrong. The late fees piled up $75 a month for 6 months was beyond wrong. I called them over and over asking them to waive it, help us out, explained what was going on. NOTHING! Finally, they told me to go 2 months behind, and apply for the re-modification since we have a VA loan. The VA is VERY generous with allowing Veterans to stay in their homes (again 1 month behind is NOT a huge thing, but almost having another house payment in late fees was killer to me). So, we did was they suggested! AGAIN THEY SUGGESTED! Jan 2020, we applied for the loss mitigation. Submitted all my paperwork in Feb. WHICH let me tell you that in itself was HELL!!! The amount of paperwork they want omg!! Anyways, they approved the process in March 2020, I thought yay this is going to be easy! They will get us the new loan we will sign it and never look back, sooo excited. WRONG!

      March 20, 2020 I learned they had sent us paperwork stating the loan was approved and all the details lined out. Never got the paperwork. They sent it to someone else in another city, state!!! So whoever got our paperwork has my husbands social and DOB!!! AMAZING RIGHT!! Now to watch his credit! Asked for a new set of paperwork, got here pretty fast. However, the city state and zip code was wrong for our house address. Called them back (of course, never ever being able to get ahold of or talk to your loan rep is 100% bs! Why have one anyways!!?!). Finally, Tanilla answers and she says "I will get new papers out asap." April 30, 2020 new paperwork comes, paperwork date "3/30/2020" city state and ZIP wrong again! Called her back. No answer. Call the main number. She will call you back." I escalated it!" "Escalated" just is a means to kick you off the phone.

      Here we are July 2020, no new paperwork still. Now we are 3 months behind, as that other paperwork had our loan starting May 2020. I call them 3 times a week. "Managers are in a meeting, call around 10am EST". I call back. "Sorry does not look like a manager is available. They are in meetings, give me a min to reach out....Well they are busy and not answering, you can leave a voicemail." I have left Flex at least 20 voicemails and NEVER once has he called me back. NOT ONCE!! D and I are scared to DEATH they will deny this loan re-modification and we either come up with $16,000.00 or lose our home!!! A home we worked SOOO HARD to obtain!! A HOME WE paid just fine until they recommended we do this re-mod!!! I have no nice words for these people and would never wish anyone to do business with them.

      This re-modification is from the VA. The VA gives it, and Flagstar is not doing a damn thing with it! They told us in the beginning no payments are due during the re-modification. However, Tanilla tells me "Oh you're supposed to pay since May 1st and you haven't." I said "Well my loan is not completed. I am not paying a cent til it is!" Yeah, pay on a loan that is not even completed. How the ** does that make sense?!?!?! WOW!! They just want your money they don't care about anything else. She then told me "Well, yeah since you missed May and June we will have to re-do the paperwork and I am waiting on a manager to let me know whats going on with that... Well he is not available. He's busy so I will call you tomorrow."

      This conversation took place 5/29/2020 and I HAVE NOT heard from her again. I called 3 days ago, left Flex another voicemail. Finally talked to someone who gave a crap.. He was very nice. Told me "There is no way paperwork should be taking this long to complete, over 3 months! And we cannot foreclose your home, since we are the problem and not getting you paperwork....Let me get you a manager. This just is not right...."

      He continues to talk to me about what he thinks is going on, about the guy who showed up at my house trying to force us to sign for a loan that would've started 2 months ago which would make us behind, all while chatting with his manager, I could hear him typing fast. He then asks to put us on hold.... Afterwards it all changed. Came back on the line... "Sorry, no manager is available to talk to you, they are in a meeting. Should be over soon, just... one minute let me see if he can talk to you...." 5 mins, then 10 mins pass, all while he is typing with the force of God honestly. "Okay. Well he cannot talk right now, their meeting is not done, normally it is right now, but today it's not. I will send you to Flex's voicemail and he said he will look into this and call you back tomorrow."

      Flex never called back. D finally called "need to speak with Flex please." Bob told him he would see if he was available. Mind you, every call they tell us the same BS! Call between these hours, they are here. Then they give you another story. "Sorry, he is not available. Let me get you his voicemail." D left a message expressing our concerns and worries and nothing no call back, that was 4 days ago. Monday morning, I will start the week all over again and call. Tanilla never called back, left her a voicemail on Tuesday.

      See, I have EVERY conversation with them recorded, and written down in a log. If they try to foreclose my HOUSE over their mistakes! Then they will get met with a HUGE lawsuit and they will lose! The distress this has caused my family is ridiculous. Our daughter is so scared she won't have a home and be homeless that her seizures have increased (she is stress induced with her epilepsy). D has horrible PTSD from his time in the service and this is NOT making it any better. They have caused us nothing but worry. You know, when you are told not to worry about payments until the re-mod is done, you tend to use that money to pay hospital bills and what not for your child (2 day stay in Feb 2020, 2 day stay in June 2020- these add up and our debt to them is HUGE!). Had I known Flagstar would do this bs, I would have saved every payment for every month, and canceled the re-mod to just end this! Saving $200 a month is not worth this bs and stress they cause.

      Since I am at my wits end, I have now contacted the Attorney General for the state of Ohio. I am praying he will help us! Someone has to know what we can do. We cannot lose our home!! So, I say to you Flagstar, if you see this, get your head out of each others rear ends and get my loan completed!! ENOUGH IS ENOUGH!

      Flagstar Bank response

      Melinda, 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 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 escalate your situation to a supervisor.

      3 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: July 6, 2020

      Home was paid off in full last month but much to my dismay, Flagstar received another full mortgage payment this month. Spoke to Marie who stated that Michelle had made an error and had never disclosed that I had used my escrow balance to pay towards the total amount due. Marie spoke to cash ops and requested that I receive a same day wire transfer and it was approved. Much to my dismay, no money was actually deposited in on Friday and now it’s Monday, and still no money has been wired in. This company is terrible and I want my money back ASAP. Very infuriated and upset at how this company operates. Keeping money that is clearly not theirs and stating that I owed money still.

      Flagstar Bank response

      Vivian, thank you for giving us another opportunity to address your important 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, 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

      2 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: June 30, 2020

      I am extremely unhappy and frustrated with Flagstar, our mortgage lender. They changed my loan status to forbearance completely without my permission. I was shocked when I received a letter stating my mortgage was in forbearance. I called them right away, 3/31/20 and explained that this was some kind of mistake. I wrote down the name of the person I spoke with and everything he said. He assured me he would take care of it and take me out of forbearance. I just figured people make mistakes, so I let it go. However, I noticed a couple weeks ago, June 2020, while paying my bill online, that my loan status still said FORBEARANCE. I could not believe that this was not taken care of in March when I called, as I was told! So I called again, talked with a supervisor, John, on 6/22/20, who assured me that he would send me a letter stating this was Flagstar's mistake, I never authorized a forbearance.

      The letter came and it says "you have chosen to opt-out of forbearance"! SO insanely frustrating. So I call them again today (call #4) and asked to speak with John, the supervisor. But, of course, no one knows who John is, they put me ON HOLD FOR 30 MINUTES AND THEN HUNG UP ON ME! This issue is still not resolved and I don't think it will be. Twice they gave me their word that something would be done and did not follow thru. If they can just change your loan status whenever they want, what other records can they falsify? This is a dishonest company and when I refinance or purchase another home I will never use Flagstar again.

      Flagstar Bank response

      Kelley, thank you for giving us another opportunity to address your important 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, 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

      2 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: June 29, 2020

      We started the process pretty standard. Then after all was processed in a couple of weeks we waited 2 months to close! Kept requesting documents already sent, loan disclosure was incorrect multiple times with missing $$ amounts, would say via email they would call to schedule closing in a few days. This went on for 2 months! Meanwhile we paid 2 mortgages and interest! Closing day came and no documents to sign. The notary tried to call Flagstar document person (LaDora **) and got no response. The same woman never returned my calls the entire process as well.

      We had 2 witnesses plus ourselves sitting and waiting at 7 am on Monday morning with no explanation. Got an email from lender at 8 am (still no phone call returned) stating working on this ASAP. No thanks, you lost our business. I would never recommend this business. Our loan was sold to this bank so no previous experience closing with them before. We started this process end of March...it is June 29th. I already have a new lender ready to close within 2 weeks.

      Flagstar Bank response

      Ronielle, thank you for giving us another opportunity to address your important 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, we ask that you reach out to our team 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

      3 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: June 28, 2020

      Our mortgage was sold to Flagstar bank, so we have a current mortgage held by Flagstar. When mortgage rates dropped we contacted them to see if we could refinance our current mortgage and also a second property. Initial conversation with Tami **, loan officer was good. She was very friendly. We set up our refinance portal and provided the required documents. Communication and return responses deteriorated soon after the initial conversation. We were told to use the portal inbox for any questions. Our questions were either ignored or it would take a week to get a response. We called and left voice messages and our calls would not be returned.

      We finally contacted John ** who was also handling our loan. He was very friendly but produced no better results or answers. He kept telling us the loan was in underwriting. We asked for confirmation that everything was in order before paying for an appraisal. We never received any confirmation. So glad we did not spend the $700 for an appraisal. We are nearing the expiration of our rate lock and there has been no communication. Tami ** does not return our calls and neither does John **. Our documents are now reading expired. DO NOT WASTE YOUR TIME DEALING WITH THIS BANK. They make a lot of promises but you do not get any answers or results.

      Flagstar Bank response

      Connie, thank you for giving us another opportunity to address your important 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, 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: June 27, 2020

      I am furious! They bought my loan after my re-fi and they didn't pay my homeowners insurance. I got notice from Shelter that is was past due. I called Flagstar on Monday June 22,2020 and the agent promised that the payment would be sent and received by Shelter by the 25th. So Friday, June 26th 2020 my agent called to let me know that the grace period had passed and I was no longer covered. Fortunately I had enough money in my account to pay for one month. Mind you, this is in the middle of a pandemic when money is short, Storm and hail season and people in the neighborhood are shooting off fireworks from dusk till dawn. I called Flagstar and the agent was nonchalant, unsympathetic and rude. I wasn't speaking to her in a rude manner or anything like that. She said it would take 7 to 10 days to reach them. If I can make a payment for my mortgage online in 1 minute, why can't they do that instead of snail mail. Avoid this company!!!!

      Flagstar Bank response

      Kay, thank you for giving us another opportunity to address your important 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, 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

      2 people found this review helpful
      Rated with 1 star
      profile pic of the author
      Verified Reviewer
      Original review: June 22, 2020

      I cannot contact them. Every time I call I get lost in an endless automated phone system. Regardless of the time of day I call or the options in the automated system I choose I either hit a dead end or get hung up on. If I try to use the chat system it either errors out or says "Agents unavailable". They don't list an email address. I may end up having an account maintenance conversation with them via postal mail.

      Flagstar Bank response

      Elliot, thank you for giving us another opportunity to address your important 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, we ask that you reach out to our team 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

      3 people found this review helpful
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      Flagstar Bank Company Information

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