Flagstar Bank

It is Sept 2022 as I write, and since May 2022 we have been going back and forth with no resolve. I cannot count the endless amount of times that their (three) required documents that are needed before fund disbursement, have been sent to them via email, fax, and/or certified mail, only for them to state that they do not have record of said docs. We submitted all documents requested, the last of the three in July 2022. In following up, we received in turn - long wait hours on the phone (anywhere from a half hour to a hour and a half), being hung up on, and no return calls as promised, etc. This essentially has been on-going since May 2022. One day one representative may acknowledge receipt of a document, the next day another person will state that the same document is missing.

While Flagstar has deliberately withheld my funds for permanent rebuild, my home has since incurred additional damages, as the temporary fixes in February has worn. Flagstar neglect and mishandling of funds is now costing me additional, unnecessary expenses. My last straw in enduring Flagstar's abuse came when after review, they questioned and denied my Building Floor Plan. Said Floor Plan that was crafted by a licensed Architect, a licensed Contractor, and full review and building permitting approval performed by an accredited governing body - Department of Consumer and Regulatory Affairs.

I have seen the countless other similar complaints. It is not a coincidence. Flagstar has no right to use/misuse my insurance reimbursement funds for their own use, nor on my expense. This practice/abuse MUST STOP! Consumer, please be aware of these practices! I am not interested in a response from Flagstar asking me to call them to discuss further. I have wasted my entire summer 2022 doing so and have gotten nowhere. We are now heading into a new season, Fall. If Flagstar wants a resolve, they should call me, preferrably put everything in writing. To be honest, the ONLY response I am willing to entertain right now from Flagstar is the immediate release of my funds from escrow so that I can start to rebuild my home!

Finally, while I was in the process of writing this review, after 5 months of nightmare phone calls and after being on the phone today for nearly 5 hours just today, someone who knew what they were doing came on the phone. A woman named Aide very professionally and compassionately spent the time with me for us both to get to the bottom of the problem. It turned out that I did owe the payment but it was because Flagstar misappropriated our payment and then sent it back to us in the form of an escrow overage and did not inform us. While I am very thankful for Aide and her knowledge, compassion and patience in working with me in the frustrated state I was in, I would never want to do business with this company again. If my interest rate was not as good as it is, I would refinance with a different company.

The information I get too sometimes contradicts what the person before told me. I have sent 4 emails through their website and have not received answers to any of them, just an automated response telling me how much my online inquiry means to them. Submitting documents through their online portal is sketchy at best. You will always receive a document upload successful message, but many never show up on the list as received. I've asked to speak to a supervisor to help during almost every call and am either put on a 20 minute hold while they "see if they can find someone" or flat out told that there are no supervisors available. I was also told that they left me a voicemail about my claim which is not true.

I have tried to stay professional and be polite, but I am so incredibly frustrated and have no escalation path. I have to pay the people putting my house back together and the insurance company has done their part, never in a million years did I think the mortgage company would make this experience such a nightmare. Hopefully someone from Flagstar will see this and help.

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.

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!

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!

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!

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.

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.

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.

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.

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.

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.

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.

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.

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.

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!

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.

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.