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Flagstar Bank

Flagstar Bank

 2.8/5 (275 ratings)
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About Flagstar Bank

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Flagstar Bank Reviews

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Page 1 Reviews 0 - 10
Resolution In ProgressRated with 1 star
Verified Reviewer
Original review: Nov. 23, 2021

Very poor customer service. They charged a payment for flood insurance even though I provided evidence of valid insurance coverage. It has been two months and in spite of multiple phone calls, no resolution yet. Stay Away!

Flagstar Bank response

Surjyashish, thank you for giving us an opportunity to address your concerns. We're sorry to see you're having issues and would like to help you get this resolved as quickly as possible. As we cannot gather your personal information online, the best way to resolve your issue is to reach out to someone on our customer service team at (800) 968-7700 during the below times.

Monday-Friday: 7:30 a.m. to 8 p.m. ET

Saturday: 7:30 a.m. to 4 p.m. ET

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Rated with 5 stars
Verified Reviewer
Original review: Nov. 18, 2021

So very kind over the phone. Walked me through everything. Help me set up everything. When I got my statement, it was spot on. I just hope they merge with NYCB bank fully. So happy they are now the owner of my mortgage.

Flagstar Bank response

Thank you for sharing your experience with us, Dan. We work hard to provide quality care for you and our customers, and are so pleased to hear you had a positive experience with our team.

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    Rated with 1 star
    Verified Reviewer
    Original review: Oct. 29, 2021

    My house was hit by a tornado. Unfortunately Flagstar Bank was my mortgage holder. The insurance company issued a check relatively promptly made out to me and Flagstar. After endorsing the check and sending it to them next day air, they proceeded to wait over a week before even acknowledging they received it. Since it was sent certified mail, I know when they got it. They also received numerous paid invoices for repairs I already made.

    After initially approving all of the invoices, they then changed the status of one without telling me. They then told me if I faxed or emailed a new one (which I did), a partial disbursement check (less than what I already spent) would be authorized that day and mailed the next day (not an electronic transfer or opening an online account which I could immediately access but mailed allowing 7-10 more days before I would receive it). It wasn't. Instead they claimed they never received it although my receipts clearly show otherwise. Since that time the cashout refinance to get some money to continue the repairs went through. They then refused to release any of the funds claiming it would take 30 days to prove that the mortgage was paid and since they are no longer the mortgage holder, they can't even authorize the original partial disbursement.

    They have now been sitting on my check for 4 weeks even though they are no longer the mortgage holder. They refuse to forward it to me or the new mortgage company for 30 days. Some agents say it goes to me. Some say it goes to the new mortgage holder. The only thing all of their customer service agents agree on is it takes 30 days. They can't or won't explain why it takes 30 days. After 30 days they refuse to do an electronic transfer and will instead mail a check which will take 7-10 more business days before it is received. But since they can't agree on where it gets mailed, who knows when I will finally get the money. Avoid this bank at all costs

    Flagstar Bank response

    Eric, we understand you are frustrated and would like to address any concerns you have as quickly as possible. If you are willing, please direct message us so we can learn about your experience and how we can better help your situation. Reach out to our team on our Facebook (https://www.facebook.com/flagstarbank) or Twitter page (https://twitter.com/flagstar) so we may put you in touch with a supervisor.

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

    Flagstar bank made a payment from our escrow account for school taxes that was $5,000 in excess of what was actually owed. They had a bill, they just somehow messed up so bad and paid much more than owed. Our mortgage was then transferred to a different company. This caused issues for months as the new company was not able to resolve it quickly, leading us to pay an additional $1000 on our mortgage payment while waiting for a resolution to replenish our escrow account. Flagstar's catastrophic error caused us undue hardship, both mental and financial.

    Flagstar Bank response

    Devyn, thank you for giving us an opportunity to address your concerns. We're sorry to see you're having issues and would like to help you get this resolved as quickly as possible. As we cannot gather your personal information online, the best way to resolve your issue is to reach out to someone on our customer service team at (800) 968-7700 during the below times.

    Monday-Friday: 7:30 a.m. to 8 p.m. ET

    Saturday: 7:30 a.m. to 4 p.m. ET

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

    I added my husband to my savings account that has been in my name since I was born over 25 years ago. I suddenly had half of it withdrawn (about $500) after adding him. Apparently, he owed them a debt that he had never heard of because he thought he had closed the account in question. Neither of us were ever aware of the debt being sent to collections at all - no contact from the bank or the collections agency, and I'm not even sure which agency it is. I opened a dispute with the FTC, but they closed it saying that "it was a legitimate debt." I'm pretty sure it's illegal to do that, and their response was just that my husband and I needed to call them. With our work hours, it's nearly impossible to have both of us on the phone at the same time during their open hours, so I'm basically out half of my life savings because no one will try to work with me. Wells Fargo was better and I absolutely despise this company.

    Flagstar Bank response

    Danika, we understand you are frustrated and would like to address any concerns you have as quickly as possible. If you are willing, please direct message us so we can learn about your experience and how we can better help your situation. Reach out to our team on our Facebook (https://www.facebook.com/flagstarbank) or Twitter page (https://twitter.com/flagstar) so we may put you in touch with a supervisor.

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    Rated with 1 star
    Verified Reviewer
    Original review: Oct. 21, 2021

    Sent a claim Check requiring Bank endorsement. FedEx check with signature delivery, including Appraisal Report. The entire process is cumbersome. Bank records the Appraisal Report but not the check—lost the check. Have lost 14 days and Contractor is nuts about getting paid. 2 days to get a call and no resolution. Not willing to reimburse Fed Ex fee, etc. Trash Bank, don’t do it. Try Truist!

    Flagstar Bank response

    J, we understand you are frustrated and would like to address any concerns you have as quickly as possible. If you are willing, please direct message us so we can learn about your experience and how we can better help your situation. Reach out to our team on our Facebook (https://www.facebook.com/flagstarbank) or Twitter page (https://twitter.com/flagstar) so we may put you in touch with a supervisor.

    Be the first one to find this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Oct. 21, 2021

    It is amazing how a company can hold 5 of your mortgages and just completely ignore you when you have an issue. Kyle ** and his team of morons managed to screw up a submitted deed of record by putting incorrect names on it and are now just ignoring the issue and are refusing to correct it with the city. Who does that? How much effort/time/money would it cost to correct this issue?? There are plenty of others to use for financing needs in this arena so don't bother with these guys.

    Flagstar Bank response

    Aaron, we understand you are frustrated and would like to address any concerns you have as quickly as possible. If you are willing, please direct message us so we can learn about your experience and how we can better help your situation. Reach out to our team on our Facebook (https://www.facebook.com/flagstarbank) or Twitter page (https://twitter.com/flagstar) so we may put you in touch with a supervisor.

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    Rated with 1 star
    profile pic of the author
    Verified Reviewer
    Original review: Oct. 15, 2021

    I sold my house almost 2 month ago and customer services keep saying they send the check but I don't know where. I even ask to redo the check and I will pay for 2 day delivery in which they denied to do. At this point I'm guessing they want to keep my money. Shame on them.

    Flagstar Bank response

    Cesar, thank you for giving us an opportunity to address your concerns. We're sorry to see you're having issues and would like to help you get this resolved as quickly as possible. As we cannot gather your personal information online, the best way to resolve your issue is to reach out to someone on our customer service team at (800) 968-7700 during the below times.

    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: Oct. 8, 2021

    Our annual tax bill is ~$10,000. We receive some local exemptions and due to the crazy market in Maine, received 1 year tax abatement for our property giving us a credit of $1200. When submitted, to Flagstar's escrow department as they requested, I never heard back about the topic. THEN, when I did call to check in on it. They had instead told me that we had definitely over paid since our taxes were only $1,200 for each 1/2 of the year.... So instead of reading the documents I submitted, and making sure it was done correctly because it wasn't they could have cost me several $1000 and a lien. As a mortgage industry professional, this is completely unacceptable.

    Flagstar Bank response

    Haleigh, thank you for taking the time to provide your feedback. We apologize that we provided a less-than-ideal experience. We value your feedback and hope you'll give us the opportunity to listen and improve. Please reach out to our Loan Servicing professionals at (800) 968-7700 during the below times so we can help 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
    Customer increased Rating by 4 stars!
    Verified Reviewer
    Resolution response: Sept. 27, 2021

    A kind and sweet supervisor called and put my mind at ease.

    Original review: Sept. 25, 2021

    The third party loss drafts department is worse than the natural disaster I experienced on March 26th, 2021. I hope that no one ever has to experience this incompetent call center. What an epic nightmare. No one has helped me with accuracy and professionalism. I’ve spoken to the customer relations department on the phone with Flagstar, the one that is used as an auto response, while genuinely nice they in turn have been unsuccessful in helping me. I feel like my funds are being held hostage because loss drafts can’t get their details in order. My home is almost done being rebuilt and we are still waiting on an inspector to call back and be assigned to my claim. Flagstar uses Safeguard which has a third party call to schedule inspections, this in turn has also been an epic failure.

    Guys, I am still waiting. You need to be open on Saturdays to handle emergencies. I am thinking twice about keeping my mortgage with Flagstar, you should too, especially if a disaster hits. No apology can make up for what I’ve been through over the last 6 months. A mortgage credit for 6 months would definitely make up for it. Also a callback would be wonderful from the president of your company, however that is very doubtful.

    Flagstar Bank response

    Jonathan, we understand you are frustrated and would like to address any concerns you have as quickly as possible. If you are willing, please direct message us so we can learn about your experience and how we can better help your situation. Reach out to our team on our Facebook (https://www.facebook.com/flagstarbank) or Twitter page (https://twitter.com/flagstar) so we may put you in touch with a supervisor.

    3 people found this review helpful
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    Flagstar Bank Company Information

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