Flagstar Bank

Horrible, horrible, horrible. Run fast from this joke of a company. I tried to set up bi-monthly payments instead of monthly & it's been a nightmare ever since. I have no idea why but they can't seem to get anything right. I've done everything they ask me to do but I still had a $45 late fee. It was removed after I complained but I want nothing to do with these people. Customer service is awful!!!!!

No COVID19 relief available during this hardship is not good when plenty of other mortgage companies are recognizing the need to assist families struggling to stay afloat.

One star is a stretch. So our mortgage was sold to Flagstar in August 2019. We have never been late or missed a payment.
1. Our first payment of $950.00 was lost.

2. Our bank shows that Bill Pay sent an electronic check to the
P.O. Box provided by Flagstar in an email from them.

3. That P.O. Box was verified many times during multiple conference calls with Flagstar and Bill Pay.

4. We have been back and forth with them. Signed an affidavit that we sent a check to the appropriate P.O. Box, it was cashed. Flagstar said that they did not cash it.

5. Bill Pay from our bank has talked to Flag Star numerous times and each time Flag Star says that they will need proof that the check was cashed.

6. $950.00 was deducted from our account. Flag Star refuses to fill out the fraudulent
activity packet that Bill Pay services provided to them.

7. We signed an affidavit from Flagstar that we sent the check, and it was cashed fraudulently.

8. Bill Pay sent a packet to Flagstar for them to affirm that they did not cash it. Once Flagstar acknowledges that they did not cash it, they were to return the packet to Bill Pay, then Bill Pay can begin their investigation through their bank. They refuse to acknowledge that they may be at fault in any way for losing the payment that was sent to their P.O. Box. Bill Pay cannot go any further without that packet from Flagstar. In the meantime, our great credit has taken a HUGE nosedive as they continue to ding our report every month stating we have been continuously late on our payments (5 missed payments. They continue to harass us with 3-4 phone calls per week and each time we start the conversation ALL OVER AGAIN.
Now we have to get legal involved.

We were recently sold to Flagstar Bank and I could not be more unhappy. After the initial flurry or correspondence letting us know they were our new mortgage holder, we cannot get anything from them. Getting a statement requires an act of Congress and multiple phone calls. They always say the statement is available but we never get it. The Customer Service Reps are great, it's too bad the remainder of the departments aren't as professional. I filed a complaint with BBB. They have yet to respond to BBB. My next step is the Banking Commission.

Flagstar has been easy to work with - I would recommend them to anyone looking to purchase a home. Never any concerns or complaints.

They worked with us when my credit was bad. They were excellent to work with and it felt like they cared about me and my family. I would recommend them to anyone having trouble getting a home loan.

They bought my mortgage loan and as with any buyout like that you have 60 days from the time it’s bought as a grace period for no late fees or credit reports. I made my payment to my current mortgage company not knowing the loan had been purchased. I then received a couple of letters from Flagstar telling me my payment was late. So I called them to learn they had bought my mortgage and my payment would now go to them. So here I am being threatened by some bank I’ve never heard of with late fees and credit reports even though I’m within the 60 day window as they shared. The reason they gave to me for the threat was my payment increased but I had no record of that from my previous lender. I’ve never been late on any mortgage payments or any other financial loans. My credit score of 772 confirms that. So to receive threats from a bank I’ve never worked with and who would have seen when they purchased my loan that I have an excellent payment history is unacceptable. Needless to say I paid the extra fees but the whole experience was awful. Even their customer service representative was awful to work with and unable to answer simple questions. I will be taking my business elsewhere and would caution others of this banks crude practices.

Flagstar operates a shady biz model where they procure loans weeks before a closing so they can charge $30 to send a payoff letter