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They were extremely helpful and explained everything. They are also very well capable of working with the deaf unlike most companies that think everyone can hear. They Do NOT have an automated system for making calls. Most companies discriminate against the deaf and handicapped and Flagstar works with the disabled exceptionally well.
This is the best mortgage company on the planet, and I have dealt with about ten of them in my lifetime. No other mortgage company compares to this one.
I wanted to move to state that still had Wells Fargo. However I missed deadline. I got all my new intro pamphlets in advance. New courtesy checks, and deposit slips. Read everything & activated new card, took out some cash for weekend, and prayed. My auto deposits have cleared, my balances have transferred over, atm card worked smoothly, and I notified all auto parts of new routing number. Cannot get mobile app to download, and mobile banking is offline today. I'm sure a few days from now all will smooth out.
I honestly have no clue why there are so many bashing reviews on this company? My mortgage loan was bought by Flagstar Bank and it has been effortless with their online banking system. I have used their online chat to get a question of how do I set up biweekly payments and the question was answered and the form sent out immediately. I've set up my payments and have had zero issues. I will most certainly update this review if anything should change. When I first learned that Flagstar bought my loan, I looked up reviews and they seriously had me scared. At this point, I literally have had zero issues and every interaction has been positive.
Our automatic payment was moved to a different bank. This did not go well the first month and they neglected to make the payment on time. Flagstar threatened to ruin our credit rating over this. When I tried to talk to Autumn about it she was extremely rude (actually abusive) and told me if I didn't stay on the phone with her she would report it and ruin our credit rating. I had to stay on the phone for 4 hours and cancel all my day's activities. She spent those hours chewing me out, transferring me back and forth, shouting demands and accusing me of lying. Actually kind of traumatic. Will never again trust this company.
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DO NOT USE THIS BANK! My mortgage was sold to Flagstar about 6 months ago. I mail a check every month for my mortgage because they charge to make a phone payment and I do not do any type of payments online. I have had to begin mailing my mortgage payment in the middle of the month to allow for up to 3 weeks "mailing time". We all know 99% of all mortgage payments are due on the 1st, typically there is a grace period of 10 - 15 days, and, although the US post office is slow, typically mail is delivered to the recipient in about 5 days.
This does not happen with Flagstar. Last month I mailed my check on Monday morning, April 15th; Flagstar didn't credit my account until Tuesday, May 7th. THREE WEEKS LATER! This is a common occurrence. When I have called to inquire, the representative told me that I should contact the post office to complain. Funny how that was the only check delayed when I sent multiple at the same time and funny how it happens every month! And just like others, going to a branch is not an option. There aren't any around. THIS IS A HORRIBLE "FINANCIAL INSTITUTION! I would re-finance in a heartbeat if it weren't so expensive. I can't say it enough -- DO NOT USE THIS PLACE. NEVER EVER ABSOLUTELY STAY AWAY. THEY ARE A DYSFUNCTIONAL PLAGUE.
I had the misfortune of having my loan transferred to Flagstar Bank 3 months ago, a month before my loan was eligible to remove the PMI from my loan payments. After my loan was transferred to them and after my LTV ratio was at the required percentage, I immediately sent in the paperwork to them requesting my PMI be removed. 2 weeks later, I received a letter that stated that I would need a BPO (Broker Priced Opinion) to verify the current value of the home. The letter also CLEARLY stated that the payment for the BPO was $125.00. I sent the check, along with the copy of the letter. They cashed my check and then proceeded to tell me that I owed another $250.00 because they could not find anyone in my area to give a BPO.
After MANY phone calls, 4 escalations of the issue to management and 4 weeks later, they still contended that I owed another $250.00. In my view they are in breach of contract, but of course my only option at this point was to pay them the money so that I would not continue to pay over $100 per month in PMI. I will never do business with this mortgage company again and will never recommend them to anyone I know. They are the WORST customer service I've ever experience. And I think their business practices are VERY shady.
March 16th, 2019, mailed first of two insurance claim checks for their endorsement only. Paid $50 for overnight shipping, 25 to them and 25 for them to overnight it back. One of few mortgage companies that requires their endorsement be on homeowners claim checks under 10,000 dollars. Called 5 times, gave some lame excuse about why they couldn't use the overnight envelope with FedEx I sent them and they "sent it back via USPS". It's now May 2nd and still no check. The joke is on these **, I sold the house, they are no longer mortgage holder so I stopped payment and had State Farm reissue both checks directly to me. Of course this is 2 months after repairs are already done and I paid for all repairs out of pocket even though I had an insurance claim. Flagstar is worthless, NEVER do business with this shade tree company if you can help it.
My mortgage like several of you was transferred to this bank from Freedom Mortgage! The way I found out, was that my check was returned from Freedom Mortgage, not only once but twice in February. When I called them and asked them why, they said it was sold to Flagstar Bank. I called Flagstar Bank. First of all they told me I didn’t have an account with them. The second time I called, They told me to go online! Again I called them finally someone gave me a new account number, and told me my mortgage was overdue! They also told me they sent me notice of this transfer by mail, I did not receive! At that time I set up my online account and paid February and March mortgage payments, unfortunately I entered my bank account number incorrectly, and they didn’t go through. Then in the mail, I received a letter about “how to get assistance if I can’t pay my mortgage”!
Funny how They have my address to send that! My credit score is 840! I don’t have a problem paying my bills! When I called them again and realized what happened, I corrected the number! And paid two months’ mortgage payments! I called them to make sure it went through. Finally! But I was charged $60 fee, I don’t know what for! I have had to initiate conversation with this bank every single time, even to find my mortgage, when I didn’t know it was transferred to them! Then, unfortunately I had water damage in my basement, insurance settled and sent me $10,000. I was to send it to Flagstar Bank claims department, and they were to endorse it and send it back to me, to get the repairs done, like normal insurance transactions. Nope, still waiting for those checks!!!
Every time I call them; I was told: I didn’t include the insurance adjusters report. I had to find out and send that, then I found out they already had it. When I sent that I sent a pre-paid addressed priority envelope to have it sent back to me. I waited another week...Called them again, got a automated system, that when I asked for a customer service agent the line went dead!
On April 22 a representative from Flagstar claims department called me and asked for a water mitigation estimate. I kept him on the line and emailed it to him to make sure he got it. He said he did, and that he would get these checks to me. Stating everything was in order. On May 1, today I called once again To see where the checks were, as the pre-addressed priority envelope does not register with the post office! The people at Flagstar Bank told me my address was wrong!!!! I do know my address! I am still waiting for these checks! I’m stuck with Flagstar Bank as they bought my mortgage, but if you have a choice; I WOULD NEVER RECOMMEND THIS BANK!!!
Dissatisfied Customer. My loan was transferred from Freedom Mortgage in January 2019 and it's been nothing but a headache with Flagstar Bank. I am on the phone every week with customer service or the escrow department because they have screwed up my payments. They increased my monthly payments and refuse to re-adjust them despite making the escrow shortage they claimed l owed. I have never been on the phone so much with any mortgage company as much as l have been with this company. Did l also say that they screwed up my insurance information and it took more than a month to get it corrected. I am not sure what kind of mortgage company/bank this is. I never heard of them before my loan transferred to them. Do not get your mortgage with this company, they are highway robbers, getting rich on hardworking innocent consumers trying to provide for their families.
Flagstar Bank Company Information
- Company Name:
- Flagstar Bank