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Flagstar Bank

Flagstar Bank
Overall Satisfaction Rating 3.42/5
  • 5 stars
    66
  • 4 stars
    79
  • 3 stars
    34
  • 2 stars
    21
  • 1 stars
    63
Based on 263 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: 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.

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    Rated with 1 star
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    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.

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      Resolution In ProgressRated with 1 star
      Verified Reviewer
      Original review: Feb. 7, 2021

      Horrible experience with refi attempt. This was my existing mortgage company so I figured I would stay with them but they couldn’t seem to get my paper work or financial information correctly entered. They were completely unresponsive and inaccessible. Terrible company. Strongly recommend looking elsewhere for mortgage needs. This company will waste your time.

      Flagstar Bank response

      Wendy, 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.

      Be the first one to find this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Feb. 3, 2021

      My loan was (sold) transferred to Flagstar Bank, which for me was not a big deal because I pay my mortgage early most months and by law these companies have the right to do so. So, for me it does not matter who collects my monthly payments. The company that originally had my loan was excellent and had awesome customer service. Upon receiving my notice of transfer I called the number on the notice to let them know I never received a notice from my original loan company and the gentleman who answered the phone hung up in my face while I was trying to explain that I wanted to know what was the next steps.

      After going though a series of phone menus I eventually got to a live person (Becky) who was nice but offered no remedy for my dilemma other than, "Call us back tomorrow." I cringe at the thought of this company having my loan now because their customer service is night and day from what I have experienced for 2 years. This was my first encounter with this company. No good!

      Whomever is in charge of this company please take the time to treat your customers with respect and teach your employees how to have some form of professionalism about themselves. We are customers, you make money off of us. A little respect, honesty and professionalism will go a long way. Please don't reply with that generic response. Just do and be a better company! That will be good enough to let me know you understood why I posted.

      Flagstar Bank response

      Thank you for giving us another opportunity to address your important concerns, Terrence. We value your feedback and hope you'll give us the opportunity to listen and improve. If you are willing, please 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.

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      Rated with 1 star
      Verified Reviewer
      Original review: Jan. 26, 2021

      Flagstar purchased my loan and my escrow account has been messed up ever since. First they did not pay my fire insurance then they paid it twice. I have trying to get it fixed for 8 weeks and instead of someone looking at the account and making the adjustments they are holding my January payment until I cover the amount of the insurance payment THEY made in error. Now they show me 30 days late with my mortgage payment when they have my payment. They should not be allowed to treat people like this!

      Flagstar Bank response

      Thank you for giving us another opportunity to address your important concerns, Jeannine. 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.

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      Rated with 1 star
      Verified Reviewer
      Original review: Jan. 22, 2021

      First time ever doing a review for anything online, but felt I had to based on my experience with Flagstar. Based on the reviews I am seeing, this is a common theme. Had an issue when I refinanced, Flagstar sold my loan to another company when it should not have. Many other issues behind this and to be fair not all of which was on Flagstar in this regard. Called Flagstar, spent an entire morning on the phone, they created a case number, said they would look into it, said if I had not heard anything in a week to call them back. Did not hear anything for a week, called them back. The person who I talked to said there was nothing in their system, and did not have any updates. They said there was a note to have a resolution by tomorrow, and asked for me to call back.

      I called back in the morning, they still had nothing, then I spoke to a supervisor, who said they would look into it. The supervisor later than day called me and unfortunately said they were still looking into it. She did call me back the next day and located what happened, and would work on it. I assumed it would be. 12 days later, I am still getting letters from the other mortgage company saying I owe them payments. I call Flagstar back, ask to speak to the supervisor who had called me, was informed they don't do that, that they were a call center, so I would have to speak with a supervisor who was available. I had explain everything again, the person who I was talking to said they would talk with a supervisor. I was on hold for 40 minutes, I had to call using a different phone to follow up, and was informed that they were suppose to come back and check in so I wasn't on hold for that long.

      The person soon came back, and said they spoke with a supervisor, and said if I wanted to this process to move forward quickly, I had to reach out to the other mortgage company, get a document, and send it to a general email address. I asked why I had to do this, when I wasn't the reason for the issue, he had no response, that this was what the supervisor he spoke with told him. I asked to speak with the supervisor, he said he would transfer me, I was on hold for another 40 minutes. Then the line was cut off. I had to call again, go through the process again, to speak to a supervisor, was on hold again, spoke to another supervisor, who had to look through the computer system again, put on hold again, this supervisor told me that they were waiting for the document from the other mortgage company but hadn't heard anything.

      I asked why I wasn't being informed on what was going on, and why I couldn't have one person to work with to address this. It was explained that this was a call center, and some people do not speak on the phone to the callers. I asked again when this would be resolved, they would not give me any answer other than they were working on it. Almost 2.5 hours, most of which was on hold, and the end result was I had to contact the other company to get the document they needed and email it to them. I did that the very next day. The next day, I call in the morning to get an update. I had to ask to talk with a supervisor. I spoke with a different supervisor, who could not confirm to me whether or not they had received the email, who could not say what the next steps would be, or tell me when something would happen to get some kind of resolution.

      He said he would look into it. I was put on hold, spent over 40 minutes on hold. He said the two people he needed to talk to, one was in a meeting and the other had not come in yet. He specifically said he could call me one way or another by 5PM. 5:15 I call and ask to speak with him. I am told he had left for the day. Obvious not happy about this, I ask to speak with a supervisor. She looks into the system again, said it was moved up to management to work on. I ask to speak with management, as I am frustrated by the fact that I cannot get any answers and have to go through this process to get anywhere. I am told they do not speak to callers. What I am left with is that someone else is working on it. So still nowhere near a resolution.

      I asked the various supervisors about this mortgage company sending me notices and saying I will soon be delinquent, they say there is a grace period and that they can go back and fix issues, but when I ask why I need to do this when this issue was not of my doing, they say there is nothing they can do. When I ask why I cannot have a single contact person to address this issue, I am told that is not how their system works. When I asked why I needed to do all the follow up to see where things are at, and why it seems that nothing happens unless I call to inquire, they say they are working on it. Essentially, if there is a problem, when they get to it they get to it. If there is a deadline issue which is approaching for me, apparently there is nothing they can do. I tried calling Flagstar to see if they had a customer service complaint department, they apparently don't.

      It's been 23 days since this process started, lost track of how long I was put on hold, at least 5 different "supervisors" who were not able to get consistent answers on what was going on or when things could be done. Only once did they contact me, everything else I had to follow up and check on. I will be contacting the Better Business Bureau, and taking other further action if I end up having to address credit reporting issues because of them. I have never been through anything like this before. It was ironic that when I was trying to contact a customer service department, I came across their STAR acronym for what they stand for. None of this happened for me. This has cost me time at work, and much more time with frustration and anger dealing with this issue. I hope I never have to deal with Flagstar again.

      Flagstar Bank response

      Thank you for giving us another opportunity to address your important concerns, Benjamin. 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.

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      Rated with 1 star
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      Verified Reviewer Verified Buyer
      Original review: Jan. 16, 2021

      Deceitful management at FlagStar Bank, horrendous customer support and they don't even know how to keep a ledger balanced. Avoid this bank at all costs or you will regret it. When they purchased my mortgage the paperwork was screwed up (which they admitted to me in writing as being their fault) and they ended up sending me to collections despite the fact that I have paid in full each month, and have provided the receipts to prove it. Not only that, for one of the payments they double charged me and they couldn't send the extra money back.

      Dozens of hours on the phone later, and having to take two full days of leave from work I am no closer to a resolution. When you call these people on they phone they pay excellent lip service to you, and even give a case number, but when you call back they deny ever receiving a call. When they promise to send the case to an internal investigator to get to the bottom of it, they fail to follow through and tell you that no progress has been made. Again they promise to do something about it, and again they sit on their thumbs and ignore the case.

      Now I am forced to make extra full payments on my mortgage above what they are owed just to satisfy them and keep a roof over my head while this process trudges on for what will likely be years at the rate they are going. I'm a nurse and work in a nursing home that was hit hard by COVID-19 and the time I have had to spend on this only increases the burden on my my fellow nurses. I do not believe in coincidences. Who knows how many other people they are doing this to? Don't take the chance that it will happen to you too.

      Flagstar Bank response

      Thank you for giving us another opportunity to address your important concerns, Christopher. 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: Jan. 12, 2021

      I refinanced with Flagstar Bank recently and my first payment was due November 1, 2020. I’ve made three payments for November, December and January. All three payments have all posted to my Flagstar account timely. Flagstar began leaving me messages in late November requesting that I call back “today” but gave only a main number, where I spent 45 minutes getting through, only to be told it did not say on my account why I should call back. I began receiving past due statements, as well as collection letters. In more than 8 different calls to Flagstar, no one can explain why I owe any money.

      Actually none has even been able to read or make sense of my account. After only three months. I got vague references to a payment “reversal” which no one can define or explain. I finally requested an audit and a written explanation from them. They “opened a case.” I also asked my refinance person to help. He could not get an explanation either. Today I received a short, void of any information email telling me the case was “resolved,” with no name and only the main number.

      I spent another 45 minutes calling Flagstar, placed on hold for 10 more minutes, only to be told nothing has been “resolved” but another case needs to be opened with an escrow specialist. No further explanation. And oh yes, I still owe my January payment which I made on December 24. No one from Flagstar has at any time simply written me to explain anything. No one will give me a name or phone number to contact, so each time I call I have to go through the entire scenario from beginning. I feel like I’m being shaken down because I’m 70. This is unacceptable.

      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 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.

      2 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Jan. 10, 2021

      I attempted to work with the Flagstar loss claim department for over a year regarding releasing my insurance proceeds. After responding to each reason Flagstar gave for not being able to release my funds, I was given another roadblock. None of my questions were answered and repairs due to Hurricane Michael have been delayed. My insurance proceeds exceed my loan balance and the only solution was to pay off the mortgage and find other resources for financing. I've been attempting to pay off my loan since the 1st of November 2020. Flagstar will not give me any information regarding the lumpsum payoff amount I was given.

      They say I have to have permission from my attorney who represented me in a claim against my 1st contractor. My attorney sent authorization months ago. Then I was told the authorization can't be written in an e-mail. I need a letter on letterhead that is manually signed by the attorney. I have provided this as well. Flagstar will not provide any information about the payoff amount. I was given a lump sum which I believe is wrong. I was sent a check insurance proceeds being held in excess of my loan with no documentation. Then a letter demanding payment of $91 in order to process the payoff.

      None of my questions are answered, no documentation is provided and the customer service phone number is the only contact that Flagstar will provide. I'm at a loss and don't understand why Flagstar will not give me a contact that will answer my questions. Why is my payoff $900 more than my loan balance; why is an escrow interest charge deducted from my escrow every month; why is interest not paid on the insurance proceeds held for almost 2 years; what is the $91 demand payment for; why does the website say my loan is paid off so no information is available; why did I receive an escrow adjustment statement after paying off the loan?

      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 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.

      2 people found this review helpful
      Rated with 1 star
      profile pic of the author
      Verified Reviewer
      Original review: Jan. 8, 2021

      Flagstar bought my mortgage. My house was burned down on Jan. 26, 2019. My homeowners insurance company, Farmers Insurance. insisted that Flagstar be included as payee on $155,000.00 fire restoration check. Flagstar paid the contractor I hired a 1st disbursement of $40,000.00 from his 1st invoice to Loss Drafts on May 6, 2019. My house was issued a RED TAG on August 2nd, 2019 for no Building Permits and Unsafe Building Practices by the SCC Dept. of Building and Planning.

      My contractor submitted a 2nd invoice on August 16, 2019 to Loss Drafts and Loss Drafts sent the contractor $41,056.00 even though the contractor had not completed $27,700.00 worth of work from the 1st invoice AND the job had been stopped by the SCC Dept. of Building and Planning on August 2, 2019. Flagstar did manage to reverse the first disbursement of $40,000.00 and returned it to me and I received $15,000.00 from my contractor's bond company. I have used this money to continue restoring my home, however, the damage done by the contractor had to be undone and redone. I had to hire a new Architect and Structural Engineer (cost- $11,700.00) and purchase Building Permits (cost - $6006.00) because my contractor was in Plan Review for six months and still did not have approved plans or any building permits when I terminated him after the 2nd RED TAG on October 22, 2019.

      I was unaware of these things. I cannot find a contractor that will do the job for the $74,000.00 so I am forced to do it myself. Loss drafts is giving me the runaround when I have shown them that I have purchased the plans and the permits AND I have already completed part of the Retrofit to bring my home up to local building codes AND have passed inspection by the SCC Dept. of Building and Planning. All that I am asking is for Loss Drafts to pay me out of my insurance fund for the work that has been performed and passed inspection as I am out of money.

      It has been 2 years since the fire and my housing paid by Farmers Insurance is going to expire on January 25, 2021 and I will be forced to move back to my house without a roof and it is raining out here in San Jose, California. Loss Drafts just stalls me with review of my documents or totally ignores my emails when it is my Insurance fund they are holding. I need to finish my house and Flagstar is preventing me from doing so.

      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 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.

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      Flagstar Bank Company Information

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