Flagstar Bank

Flagstar Bank

 3.8/5 (604 ratings)
  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

About Flagstar Bank

Overall Satisfaction Rating

  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

Flagstar Bank Reviews

Recent
  • Recent
  • Oldest
  • Most helpful
Any
  • Any
  • Rated with 5 stars
  • Rated with 4 stars
  • Rated with 3 stars
  • Rated with 2 stars
  • Rated with 1 star

A link has directed you to this review. Its location on this page may change next time you visit.

How do I know I can trust these reviews about Flagstar Bank?
How do I know I can trust these reviews about Flagstar Bank?
  • 4,133,720 reviews on ConsumerAffairs are verified.
  • We require contact information to ensure our reviewers are real.
  • We use intelligent software that helps us maintain the integrity of reviews.
  • Our moderators read all reviews to verify quality and helpfulness.

For more information about reviews on ConsumerAffairs.com please visit our FAQ.

Page 2 Reviews 10 - 40
Rated with 1 star
Verified Reviewer
Original review: Aug. 5, 2022

I have banked with Flagstar for over five years. I like the local branch. However, I recently applied for a loan for 20k. I own my home outright. I own four other houses that are rental properties completely, no mortgage. I own my business and the building that it sits in 100%. My income is anywhere from $1400-$2000 weekly. The loan officer has asked for paperwork after paperwork and eventually, I was forced to ask my brother to co-sign the loan. He has two homes and about 1.3 million in assets. I STILL haven't been approved and there is now even more paperwork that she wants. I'm trying to borrow 4% of my assets and I have no debt for my debt-to-income ratio. WHY IS IT TAKING SO LONG? I've never experienced a bank that was so determined to lose business.

Flagstar Bank response

Milissa, 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.

2 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 2, 2022

Since Flagstar purchased my mortage they have had 2 data breaches. The most recent breach I called with some specific questions and was told my questions would be passed on to the appropriate department and I would receive a return call. After 6 to 8 weeks this has not happened. I have sent several emails asking for a response with no replies. I have reached out on Facebook and Twitter. I have received acknowledgement but then it goes nowhere. Don't think for a minute this bank cares about you or your personal data. Customer service is nonexistent.

4 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Aug. 2, 2022

This company is the absolute worse mortgage company to deal with. I have had mortgages with other banks and Flagstar by far is the most difficult to deal with. I had an insurance loss due to a fire and it was nearly impossible to get access to the funds in escrow once Flagstar received them. Because of the difficulties I decided to sell the home because of the drawn out process of dealing with Flagstar. I intended to use the escrow funds to pay the mortgage off so that I could be done with Flagstar and purchase another home.

Once the closing was complete Flagstar would not apply the funds in escrow to the mortgage balance to show the mortgage paid in full. My money is being held by the title company and I have no access to my funds. I am homeless through this whole process because I have no funds to purchase another home and I still have an active mortgage. Customer service is no help whatsoever. I was transferred from department to department with each customer service representative contradicting the other. It nearly caused the sale of the home to fall through. Stay away from these people! There are plenty other mortgage companies that are reputable.

Flagstar Bank response

Ricky, 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.

8 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 29, 2022

On 6/15 a storm came through my area and blew a portion of my roof off. On 6/16 I called my insurance provider and they advised me to let my mortgage company know about the damages. That same day I called Flagstar and went through their automated claim line and got my claim number (or whatever they call it). I stayed on the line to make sure I could talk to a person about what I had to do next. A nice lady picked up and told me that their systems were down and she couldn't only give some general information. She told me once I get my check from my insurance company that I needed to write the Flag Star claim number on the check and mail it to them in Arizona along with the estimate from the contractor and any paperwork from my insurance company. I followed her instructions and mailed all documents to Flag Star as soon as the check came through on 7/11.

Fast Forward to 7/28 I get the check from Flag Star with the check endorsed and then scratched off saying "invalid" and just a piece of paper with 2 boxes highlighted and nothing else. No letter explaining what to do, no phone call or email from Flag Star. When I just called right now 7/29 (after waiting 1hr+) I spoke with a very rude lady who said they did email me and call me to let me know about what to do with the check. Only emails I have from Flag Star are surveys and ways to lower my monthly payment! With talking to this unpleasant customer service representative from Flag Star she said they called me and left a voicemail and emailed me. Which I have nothing in my emails and voice mail box is cleared. Then digging further with this unprofessional person the phone number that they had showing on their file was never a phone number for me.

Now the phone is correct and I have now been told what to do; we'll see if they follow through and do their part to endorse the check. I never picked Flag Star when I signed up for my mortgage, CHASE sold my mortgage to these people and I regret it! There are better mortgage lenders out there, that actually care about their customers and customer service! Let this be a warning of what you are getting yourself into with Flag Star Bank!

Flagstar Bank response

Jason, 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

3 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 24, 2022

For the second year in a row the escrow dept. screwed up with the amount they take out for taxes. I have been with their mortgage dept. for an estimated 8-10 years. Their escrow dept screwed up on the way they take out taxes and blamed it on the county, I have had my taxes taken out and paid in 2 installments. This year 2022 and last year 2021 they didn't take enough money for the tax/escrow and also sent too much money back to me in an overage check. When I called them about it the representative said they will look into it, it would take 6-8 days.

When I called them back in 9 days the representative told me the case was closed and they would send me a new statement in 6-8 days. I asked for an estimate as to what my new payment would be, Rita told me around $866. That is $250 more than I was paying, I told them that their business practice is going to make someone lose their home. I highly think that is their goal, to make people lose their home through foreclosure because they can't make the payments required. Their representatives answer was that I could just pay my taxes and insurance myself. Instead of apologizing and trying to correct what they do wrong they pass the buck to the county and the consumer. I have had at least 4 mortgage companies with 3 different homes. Flagstar is by far the worst bank I have dealt with. Please protect yourself and use a different bank!

Flagstar Bank response

Tonia, 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
Rated with 1 star
Verified Reviewer
Original review: July 20, 2022

I received a letter stating that I needed to submit proof of my insurance. I did that. I kept get more letters after that so I called to figure out what the problem was and they told me it was a different insurance document than what the letters described. I got that from my HOA and uploaded it. They still charged me $600+ for not having insurance. I've now spent 15+ hours working on this and have called 7+ times trying to get it corrected. I've had three people over the last four months tell me "just wait a few weeks and the charge will be taken off" and it is still there. I would give negative stars if I could.

Flagstar Bank response

Matthew, thank you for giving us another 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

3 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: July 8, 2022

I would give this bank a negative five stars if it was possible. We are building a custom home for a customer that is using Flagstar Bank. We submitted our first draw to Flagstar Bank on 05/31/2022, it was approved through their 3rd party Granite Co to be paid. They have a ridiculous amount of forms required for every draw from us and the customer as well as every draw has to be notarized, but we jump through all the hoops along with our customer to help them get their dream home completed. (Normally banks fund within 7 days) As of noon on 07/07/22 it still has not been funded from the request on 05/31/2022.

We have called: 06/06/22, 06/07/22, 06/10/22, 06/15/22, 07/07/22 and have spoken with Bobbie ** and she assured us we are supposed to get paid. We have talked to the Customer Service Department on numerous occasions and they won't give you any names, except for one person we spoke with 07/07/2022: Karine, and she gave us a case number and would not give us her last name. She wanted to continue to pass us around instead of allowing us to speak with the Office of the President. Basically we are getting the run around. We want to make sure this does not continue to happen to others.

Flagstar Bank does NOT pay timely and definitely lacks in customer service. You really are just a number and they don't even care to do their job, they are just collecting a paycheck. Whether you get your money or not, they still get their paycheck and are in no rush to help you with anything. Another thing is they cannot find any inspectors, so if the inspection can't get done... you do not get your money. The 1 inspector that we met said Flagstar Bank is horrible to work for and he would not be doing any more inspections for them.

We have submitted Draw 3 and Draw 4 now and got a call from Flagstar stating they cannot find an inspector to do the inspection. I told them that we use about 20 different banks and I could call one of the other banks to get some referrals and Flagstar said they would not accept inspector referrals. Looks like funding our draws isn't anytime in the near future. I feel bad for our customers, we cannot fund their home. Unfortunately we will have to stop construction until the bank pays us so we can pay for the work and materials that have already been ordered and completed. We will never build another home for a customer that uses Flagstar Bank. Horrible Bank, BUILDERS BEWARE!

Flagstar Bank response

Amy, 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: July 6, 2022

I called in regards to having my PMI waived. I submitted an apprasial and the waiver form and have not heard back for 30 days. I called and was transferred to the PMI department, the woman that was helping me was horrible. She kept putting me on hold without telling me why I kept having to say, "Hello is anyone there," she was laughing not answering my questions, then I asked her to email me the letter regarding my PMI and she said, "Let me put you on hold," she put me I hold for 5 minutes and then I got the "Our customer service center is closed right now please call back."

I don't know who you guys hire but you guys need to teach your employees how to provide service to customers. This is horrible. This is not how you treat customers. I spent over an hour on the phone 40 mins just on hold to get through someone and then I get this woman that doesn't even want to help. This is unacceptable and not professional at all.

Flagstar Bank response

Adrianna, 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: June 28, 2022

Awful company, not only have they had 2 data breaches they also messed up my taxes for last year because of their lack of due diligence and now they are trying to make me pay for the difference. The customer service not only was rude and yelled but also insisted they contacted the town and the total received was correct and that I am wrong. However, I have the proof that they did not do their due diligence and made an error causing my escrow go to zero. Now they expect me to pay much more every month. Keep in mind I’ve never missed a payment and pay 2 months ahead of time. The tax that they insist was given to them by the town in 2021 was not even close. It hasn’t nearly been that low for years and they would of notice that if they actually did their part. Now they expect me to pay the difference. I don’t miss a payment and pay on time 100% of the time but I’m getting penalized for their error. That’s ridiculous!

Flagstar Bank response

Devon, 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

3 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 22, 2022

Our initial lender sold our mortgage to Flagstar about a year after we bought our home. The county we live in bills is twice per year for our property taxes. In 2021 my husband got on the phone with this company to remind them we are billed twice per year, to which they replied they only needed to make, and were only accounting for, one of the two tax bills. We are now having to pay hundreds more per month for our mortgage payment to make up the for shortage caused by Flagstar – they were not collecting enough from our mortgage to satisfy both bills.

When I spoke with a representative at Flagstar today, she told me the county had increased the tax bill. After checking our records, it turns out our tax bills for 2021 and 2022 are the same. So not only did Flagstar not collect enough, they lied to me. We now bear an undue financial burden, thanks to Flagstar. If you find your mortgage has been sold to Flagstar, and if you find yourself in a position to do so, I would recommend doing whatever it takes to see that you can find yourself an honest and competent lender.

Flagstar Bank response

Michael, 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: June 10, 2022

I had autopay from UWM and Flagstar bought the loan. They sent junk mail but I obviously don't open mail from a random bank I have never heard of. My autopay randomly stopped and now my credit has taken a hit. Unethical business.

Flagstar Bank response

Rob, 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

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 8, 2022

I had set up autopay for my mortgage. Autopay was supposed to draft at the end of the month. Noticing during the first week of June that it had not been taken out I called to make sure there was not a problem. They told me that autopay had been cancelled but could not tell me why (this was not something I had done). They told me I needed to make a payment. I made a payment and they double charged me. I called back and they refused to reverse the charges. They sent me a “refund” form which gave me a list of things I needed to attach to prove THEIR error (which they acknowledged on the phone) and provide my account information in an insecure manner.

It was a nightmare that took up several hours of my time. I had to file a fraud claim with my bank in order to get my money back so that I could buy groceries for my family. Most people cannot make a surprise double house payment. This is unacceptable and the people handling mortgages at this company are completely unqualified for any financial transaction whatsoever.

Flagstar Bank response

Jenna, 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

5 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 4, 2022

Can you imagine the mental anguish and damage caused by being told your home of 19 years has been sold from under you via property tax sale? Even more so if you had/have not failed to make a single mortgage payment? On 7/15/21 at 12:54 p.m., EST, I called Flagstar Bank regarding a “FINAL NOTICE BEFORE TAX SALE” sent to me by the state of Maryland. This perplexed me because my taxes were/are escrowed and every mortgage payment had and has been made in a timely fashion. “Donna” transferred me to “Noe” for assistance. “Noe” informed me that the bill would be paid A.S.A.P. He requested an email address to provide me with confirmation upon payment of the property tax bill.

On 8/12/21 I received a confirmation email from Flagstar that, “Your case number ** was resolved on 8/12/2021”. From 8/12/21 until 4/21/22 I received zero correspondence regarding the aforementioned tax bill. Wouldn’t you believe the issue had been resolved if you received an email from your mortgage company that the issue was resolved? And no further correspondence from the state of residence? No one at Flagstar will take responsibility. It has been almost a year since I initiated contact regarding this tax sale. One would think Flagstar would at the very least assist in obtaining a lien release from the state considering their error that may cost me my home. Their behavior and unwillingness to own up to their error is disgusting. I have filed a complaint with the Consumer Financial Protection Bureau and the BBB.

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: June 1, 2022

I received damage to my roof from hurricane Ida. I have been trying for 3 months to get my money to pay the roofers. My insurance company promptly sent me money for repairs. I have done everything this company has asked me to do. I have sent in all papers and I have had one excuse after another. This paper is missing, that paper is missing. I have sent in everything correctly. I owe roofing company $10,000 which they are holding. They simply will not get up off of MY MONEY. I have made at least a dozen phone calls to them about sending me the check to pay them. I see many other people has this same problem with trying to get their money sent to them for repairs.

I am in the process of trying to find someone to help me with this. It is not a coincidence when so many of us are having the same problem getting our insurance payments. They are a bunch of THIEVES. Each person I talk to on the phone has a different story as to what the hold up is. I was told last week that everything was finally 100% correct and they would be mailing my check out. I called them today to check on things and they had not mailed check out because they found an error yet everything was great last week. I will find out who to contact about keeping money that does not belong to them. The complaints on this company is unbelievable. Overwhelming.

Flagstar Bank response

Patricia, 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

4 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 26, 2022

UWM sold my loan to this train wreck of a bank, and within the first few days they have already majorly screwed up my payment. Flagstar's web UI is atrocious. I navigated to the payments page, selected 'additional principal' and made an additional principal payment. Flagstar's system then reversed my payment and applied it as a regular monthly payment, rather than an additional principal. This is very clearly not what I selected. If a user specifically goes out of their way to select a principal only payment, especially after the monthly payment has been made, it should not be reversed. If people select this option by mistake, then you need to generate a warning modal to prompt the user to either confirm and continue, or cancel. What a terrible user experience.

The actual payments section that reveals how much you paid is useless. I can't see how the funds were applied, and I was lucky to reach out and ask about these random payments that showed up on my account. If not for that, I would have no idea that my principal payment was reversed and applied as a regular monthly payment. There is no insight into payments at all. Horrible user experience.

Furthermore, there is no option for customers to view open support tickets on the website. You're given a random meaningless case number and then just expected to sit and wait until maybe something happens and your payment is fixed. Terrible customer experience. There is also no option for the live chat transcript to be emailed to customers. Again, bad customer experience. So far, this has been an immensely negative experience, and I do not trust or have faith in this bank.

Flagstar Bank response

Lauren, 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: May 9, 2022

Updated on 05/25/2022: So I have had the pleasure of speaking with Nadia from LOAN escalation whom was the only one to follow through with letting me know what was needed for loan to process after agreed released "forbearance trial period".. I have given all the necessary documents and made required payments to have NO response. I have also asked to pay for taxes due and they will "not let me". I do feel sad and mad that they are almost wanting me to fail as a long standing client. I have excellent credit and took advantage of pandemic relief options. I work for the airlines and a single Mom and was given the option of pandemic help due to loss of hours.

Recording a deed for a home is usually done at closing. NOBODY told me this was a necessary step in order for FLAGSTAR to make good on their word every time. I called after taking my loan out of a trust for them to "process" and was told multiple times that things were good to go and to wait on them until a "you're now in foreclosure" notice arrived. The response to an earlier post was "knowing my options" vs "let's make this right due to our oversight".

Original Review: I have been waiting since November 2021to finalize an agreement with Flagstar. I have also done all the correct paper work filing to take out of loss mitigation (due to the COVID Forebearance) and complete the agreed refinance with sum attached at the end of the loan...I am told that an escalation supervisor will contact me within 48 hours to handle and to complete the process. They do not. Nobody. My loan was improperly taken out of consideration NOT because of me but for the failed connectivity on Flagstar's end. I would like the completed as to avoid a lawyer and join a current lawsuit against Flagstar with other for this same issue.

I would not have even put one star but was needing to do that at least to submit. I do not want to be connected to a specialist or someone in customer service as they said they are not able to do anything and "are as helpless as myself". I work for the airlines and understand we are all overwhelmed but please follow through and make good on your word. The generated mail with threatening letters and calls is enough.

Flagstar Bank response

Hi Susan, thank you for taking the time to leave your feedback. we realize that COVID-19 is still impacting our community, which is why eligible customers still have the option to opt-in to a forbearance plan. If you are already in a forbearance plan, we are offering (6) month extensions as well. Follow the link provided for more information about our forbearance and financial hardships policies: https://flagstar.com/hardship

4 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 9, 2022

Our Mortgage was just acquired from UWM. We had our monthly payment set up on auto pay. We were notified about 2 weeks prior to the transfer of service that this was transpiring. We didn't receive any communication from Flagstar Until the 1st of the month. Apparently I was too eager to make our mortgage payment. I logged into the Flagstar Portal at the first opportunity on the 4th and scheduled our payment. Later that evening I received an email from Flagstar saying that our existing Automatic withdrawal was still in place and would still happen.

Sure enough I looked at our joint checking account the next day and there were 2 payments deducted from our account. I thought simple enough, this is a new account, surely this has happened before. I'll just call in and ask to have one of the payments reversed. The person I spoke with was nice enough, but he couldn't do anything. I'd have to fill out a form and fax, mail or email it in with proof that the funds had been withdrawn from my bank. Of course the form requests routing and account information so I thought, I'll just ask for a secure link to submit this info. I sent an email to the address that you are supposed to send your request to asking for a secure portal and got an email that simply said send it to the same email address, not acknowledging that I had asked for a secure portal or link to be able to safely transmit sensitive banking information. Oh, and that took two days for a response.

So I called in to "customer service" again, expressed my concern and was told I'd be transferred to a supervisor. The same agent that answered the call came back on and told me that the safest way to submit this information was through the USPS, and she could file a complaint or a suggestion, which would I prefer. I'm exceptionally displeased with the one way nature of this arrangement. They can take funds from our account, but to have anything returned with an obvious duplicate transaction requires forms to be mailed in in order to be secure, in this day and age, is a slimy business practice. The fact that a "supervisor", wouldn't get on the phone with me goes to show how little they think of the customers they acquired. That we as consumers have no say in who services our mortgage is troubling when you experience dodgy business practices like this.

Flagstar Bank response

William, thank you for giving us another 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

3 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 3, 2022

They have no idea what they are doing. Our loan was acquired by them and I have had nothing but issues. It took 3 months for me to even get them to accept a mortgage payment (which they charged me a fee for because their online system kept reversing my payments). Now I called in asking for my 1098 tax form before tax day and was told they forgot to issue it so the earliest they could get it to me was 1 day after tax day. We dealt with that, however it is now over 2 weeks since taxes were due and I still have no form. I called in today and was told I don't need one since the actual first payments did not process until January of this year. That sure would have been nice to know on the call before tax day.

So I asked who is going to pay for the late fees incurred by us missing tax day waiting for the form we were originally told we would have issued and we are now being told we would not need. The supervisor I spoke with used the fact that because we called only 4 days before tax day it was our fault we had late fees. I said no it was their fault because we would have filed 4 days before taxes were due. Monthly I have to log in at least a week before our mortgage is due because their online system will not let me make a payment until I try 2-3 times on different days to get the payment information to show up on my account to make a payment. I wish as a consumer we had control over who acquires loans. I would NEVER apply for anything with them willingly.

Flagstar Bank response

Melissa, thank you for giving us another 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

7 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: May 2, 2022

Loan modification did not get accepted due to employees in the Hardship Department giving false information. It is unacceptable that employees are not equipped

with the necessary knowledge especially dealing with mortgages.

Flagstar Bank response

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

3 people found this review helpful
Rated with 4 stars
Verified Reviewer
Original review: April 30, 2022

After reading some of the reviews on here about Flagstar Bank I was a bit shell-shocked. I completely understand the frustration by some customers, I have some of my own as well, but I wanted to take a moment and give them credit for their positive attributes and hard work that I have personally experienced from them as my mortgage lender. I have been on COVID forbearance for quite a while and was set to exit a few months ago. Let me start by saying throughout the entire Forbearance they were helpful, kind, and informative whenever I had questions, concerns, etc. Following my exit of forbearance, I was to receive my new loan modification documents within a month, have them signed and notarized and returned to begin payments.

After a month I started calling about every two weeks to keep the lines of communication open and still at 6 weeks hadn't received my loan modification documents. One day I go to grab my mail and see that the mailman or whomever delivered them put my documents behind a sign hanging on my property's driveway sliding gate. I was blown away by this... how could anyone think that was a good place to put any mail much less something as important as this? I opened them up to see if I could still get them notarized and turned in on time and sure enough, they had passed their date and expired. I was so upset, frustrated, and angry that something so irresponsible had led to now further issues with my loan. I called Flagstar and explained the situation and I got to tell you, I received nothing but understanding, respect, and genuine concern.

They immediately went to work to draft me new documents so they could get to me asap and we could move forward. Weeks pass again and I start to get anxious and call again. This time I am told that no notes had been entered and that no documents had been drafted or sent. This really was disheartening to me, and I am sure many borrowers are dealing with their own mistakes or hiccups with Flagstar. I was really getting tired of the back and forth myself but I had to stop and think about it. This was an accident. Flagstar has been wonderful and on their A game and God bless them for doing so. They are handling an overwhelming amount of loans and modifications and you know what, people make mistakes. So we spoke for a bit about reapplying at this point for the loan modification to get a fresh start and have a clean slate to get it done.

They discussed my rights and protections and that they would work diligently and quickly to get a modification together and in my hands to sign asap. I have to be honest, I am still waiting currently for their response which is a bit stressful as I have been dealing with a plethora of other issues like vehicle, health with my family, finances and balancing it all amongst working. It's been really hard. But the point I want to drive home for anyone reading this is that Flagstar is a company with hard-working, personable, helpful, caring employees that due their best amongst the overwhelming amount of modifications and loans they are handling. They have never made me feel unimportant, disregarded or that my situation was one that was doomed or going to fail.

Through all the issues and mixups, they continue to push hard to make sure everyone get a fair shake and a mortgage that they can comfortably afford to keep their homes and families in them. I don't ever stress about or fear calling them (I'll need to Monday to figure out what's going on). I know no matter what they will work with me and make it happen because they are just good like that. I am proud to be a borrower of Flagstar Bank and I think that, even amongst the stress and chaos of the world we are living in, if we as borrowers can relax and give them credit for all they do and keep that those lines of communication open, Flagstar will make it happen for all of us.

Be it forbearance, loan modification, or refinance, have faith and trust in the process. Good things come to those who are patient and understanding. Things have been really tough for everyone and we all need to work together to get back on track. Anyways I just wanted to offer a positive review from a happy customer who does appreciate all the effort I have received. It's helped my family more than we can express and we can't thank Flagstar enough. Cheers to new beginnings and a bright future ahead. You rock Flagstar!

Flagstar Bank response

Thank you for sharing your experience with us, Christopher. We work hard to provide quality customer care and are so happy to hear you had a positive visit with us.

2 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 23, 2022

I have been trying to resolve my forbearance since July 2021. I have been told at least five times that an agreement has been mailed out for me to sign and return in order to modify my loan and resume mortgage payments. I haven't gotten any of these agreements yet I've gotten other correspondence via mail from them. It makes no sense that I'm receiving everything else in the mail from them except the agreement. Each representative I have spoken to agrees that it makes no sense. After reading similar reviews, I'm convinced this is just something they are trained to tell you and are not really mailing out anything.

I submitted the Loss Mitigation Application for a second time recently after not getting the allegedly mailed agreements only for the underwriter to deny the application this time after saying my occupied property is vacant and is not my primary residence. Not only has my property never been vacant, it's my only residence, which I indicated on the applications. I also uploaded proof of occupancy to their website. Occupancy questions are also asked of you each time you call. None of the representatives I have spoken to are incompetent. They have no idea what's going on and give you the run around. I have spoken to at least 15 different people since July 2021 trying to resolve this! My next step is to contact an attorney.

Flagstar Bank response

April, 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.

4 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 18, 2022

I own a property with my sister, and since she has hit a rough patch we decided to do a mortgage deferment for a few months. We submitted the application in February and were instructed to not pay our mortgage while going through this process.. We are still in the process two months later and Flagstar has put a late payment on our record. My credit score has gone down 60 points.. and I got a notification that someone put a hard inquiry on my report. Guess who it was? Flagstar :). Now I’m in a situation that should’ve never happened, with ** up credit and having to come up with two mortgage payments. They are saying that my deferment application is under review now, and what was once something that should’ve took a few days, will now take an additional 30 days. The customer service + communication that this mortgage provider provides is absolutely terrible, I haven’t seen such incompetence in my life. Horrible. 0/10.

Flagstar Bank response

Diamond, 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
Rated with 1 star
Verified Reviewer
Original review: April 5, 2022

Really don't know where to start but I really hate whoever wherever this so called bank came from. They Acquired my loan and this must be the DAMN DEVIL. They don't have a DAMN clue on what's going on. I've been sending them the same 14 pages since 09/03/2021. They say they have the info. I call back 3 days later they don't have it. The back and forth since September 2021, the reviews online is beyond bad from the Racist ways that they deal and treat ** accounts holders for those who are dealing with hardship they accounts have been held up for very, very small reasons "like the letter Y is not straight and that doesn't like a number 3 more like a 2" but other applications have been processed with the same SO CALLED ERRORS with other Races. And the Employees with "FLAGSTAR BANK" knows that there is a problem. This KKK bank needs to be shutdown ASAP

Flagstar Bank response

Tarrell, 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 (888) 248-6423 during the below times.

Monday-Friday: 7:30 a.m. - 9 p.m. ET

Saturday: 8:30 a.m. - 6 p.m. ET.

5 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 4, 2022

I have now spent more time trying just to speak to someone and to get a copy of my new loan than I spent with my previous servicer to do a refi from an FHA to a conventional loan. Flagstar recently bought my home loan from UWM and it has been a nightmare just trying to establish any communication. I could not register on their online portal until the day after payment was due and I have yet to be able to speak to someone at their customer service number. I have now been on hold for an hour and have still not spoken to anyone and this is my 3rd attempt since receiving the service transfer letter.

To make matters more frustrating both the web portal and the IVR say I am ineligible to make a payment and to call the 800 number that no one answers. Their online chat feature also just states that there is no one available to chat at this time whenever you attempt to use it. I have still not received any literature from Flagstar stating that they are the new servicer or how and when to provide them with payment.

Flagstar Bank response

Jason, 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 us at (800) 968-7700 during the below times so we can learn more and make sure you have a more positive experience going forward.

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

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

6 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: April 1, 2022

I started a refi in November 2021, it's now April 2022. We have provided everything and the kitchen sink and they still want more "proof" we paid this and that, then they want to pull another credit report, I am so frustrated. We have nearly $300k in equity, and want to pull out $100k to install a pool and upgrade the landscaping, we own 3 homes and never in a month of Sunday's have we ever experienced sheer incompetence in a bank refinance. I've given up nearly 5 months of my life and I can't do it anymore. I am going to complain to anyone that will listen, and I'm going to write a scathing letter outlining the gross misconduct. We had a great % rate too, and with rates going up, and waiting for them to get their act together we totally missed out and now have to start all over again. I'm so frustrated and upset, who takes over 5 months to refinance when everything is in order. What a waste of time.

Flagstar Bank response

Lisa, 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.

9 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 23, 2022

Flagstar Bank is the worst financial institution and should not be in business. I have never wasted so much time, effort and energy working with a company to process a refinance. I started this process to refinance an existing loan with Flagstar in August 2021. It has has been over six months! This is not the first time I have been through a refinance process and it typically takes 20-30 days to complete. This process is no closer to closing this out and going on month seven!

As of to date, March 22, 2022, the loan still has not been processed or finalized. I’m working with my third loan processor and have been asked to resubmit all of the information I have previously provided plus more as if I’ve never submitted the information. This company has more information on my finances than I wish to provide to anyone. The loan processor/ supervisor, while very nice and the reason I elected to refinance with Flagstar, has not been monitoring my file nor provided any resolution. I contacted the customer service line and never received call back or resolution. I made several attempts to ask for a manager to call me back and still have not heard from anyone!! My experience with this company is unbelievable and has been unprofessional.

I’m a professional with minimal debt, great credit and should never be treated or made to feel less than. I learned that the underwriter assigned to my file has spent the last six months or more excessively questioning my file, asking for several documents (that I have provided with no delays and in access of what has been asked), and scrutinizing my file based on a what I believe to be a bias - questioning my low monthly gas bills. Why?! This is ridiculous and uncalled for and an attempt to suppress consumers by frustration and dissuasion. Flagstar has and continues to waste staff time, money AND my time, money and energy! I’m at a loss. Please do not open an account or initiate any process with this company.

Flagstar Bank response

Ray, 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.

8 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: March 11, 2022

In November of 2021 I refinanced my mortgage with another provider and called Flagstar to let them know that my taxes would be paid through the close of escrow on my new loan. Flagstar paid my taxes 2 days before the close of my new loan even after they had told me that my taxes would not be paid until December.

Long story short, it is now March 11th, 2022 and I still have not received a refund for the taxes that Flagstar Paid to the County Tax Assessor. I have made numerous phone calls and trip down to the county tax assessor's office. Flagstar has assigned three case numbers to this refund and closed two as resolved. To me resolved would mean that I have received my refund for overpayment of my property taxes.

They have blamed Corelogic which is their third party vendor who paid the property taxes. Corelogic is not my vendor it is theirs. I do not understand why I would have to make all these calls and trips to the county Tax office. Flagstar should take responsibility for refunding my escrow account fully. Unfortunately my mortgage was transferred to Flagstar Bank. If you are a consumer think twice about doing business with an institution who does not value their customers and do not refund money owed in a timely manner. How many phone calls does a consumer have to make.

Flagstar Bank response

Daniel, we are sorry to learn about your experience with our third-party servicer. We work hard to deliver quality customer care and expect our service partners to do the same. Please reach out to our Loan Servicing professionals at (800) 968-7700 during the below times so we can help to address your concerns.

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

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

6 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Feb. 17, 2022

Flagstar is the most technologically inept financial institution I've ever used. Nothing works correctly on their website (even after they migrated our account to a new "platform"), connecting with other banks or online services (like Mint) rarely works smoothly, and they don't even let you do a wire transfer from your online account! You have to request that the feature is added, which takes several business days. That is not much help when you are scheduled to close on a house and Flagstar won't let you access your own money! Unbelievably bad customer experience, and will be closing our account as soon as possible.

Flagstar Bank response

Chris, 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 us at (800) 968-7700 during the below times so we can learn more and make sure you have a more positive experience going forward.

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

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

5 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Feb. 8, 2022

After paying off my mortgage, still waiting to receive my escrow check from the bank. İt has been close to 3 weeks. Unacceptable, if we are late of our payment would be punished by interest fees. Customer service suggesting to wait, instead of any investigation.

Flagstar Bank response

Mehmet, 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

5 people found this review helpful
Rated with 1 star
Verified Reviewer
Original review: Feb. 6, 2022

Absolute ** show of an operation. Sharon ** and Austan ** outright ghosted me, after my refinance had already run 4 months long. How does Sharon's manager not know there is a refinance of an existing loan customer outstanding 4 months? It took me finding a Flagstar Bank customer service phone number online, explaining everything to a rep, and getting connected to the department director, who also had no idea of how her subordinates were operating. Carmen reviewed my file immediately and said I should be ready to close in 24 hours.

It took Flagstar another 2 months and me resubmitting nearly everything I already had plus a bunch of new documents I had never been asked for in the first place. They even had to rerun my credit they took so long. It wasn't until this point that we discovered that Flagstar has FAILED to update my home's correct property tax amount and I am behind on my property taxes by 2 YEARS!!! And they have the audacity to stick me with the late fees from the county! 6 MONTHS to close a refinance of an existing loan customer. ABSOLUTE ** SHOW.

Flagstar Bank response

Britney, 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.

5 people found this review helpful
Loading more reviews...

Flagstar Bank Company Information

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