FLAGSTAR BANK, FSB
Consumer Complaints
There are over 2652 complaints on file for FLAGSTAR BANK, FSB. Dated between 2019-12-13 and 2011-12-23.
Complaints Page 19
2018-12-03
Northside, NC
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Complaint: 1 ) On XX/XX/2018, after paying the Private Mortgage Insurance ( PMI ) for more than a year, I paid the new appraisal that Flagstar requests me in order to study the possibility to waive the Private Mortgage Insurance ( PMI ) 2 ) On XX/XX/2018, Flagstar told me that the appraised value was insufficient to warrant a waiver of the insurance.
3 ) On XX/XX/XXXX, after several phone conversations with the PMI Department of Flagstar, they suggest me to DISPUTE the appraisal value.
5 ) On XX/XX/2018, I sent to Flagstar an email with all the information that they requested me in order to dispute the appraisal value, in order to waive the Private Mortgage Insurance. ( including at least five Comparable houses sold in the last six months ) 6 ) On XX/XX/2018, after three weeks without a response, I sent a follow-up email to Flagstar. I did not receive any response 7 ) On XX/XX/2018, I spoke by phone with their PMI Department, and they assured me that I would get an answer on XX/XX/2018. They gave me the Case Number : XXXX, but I never heard back from them.
8 ) On XX/XX/2018, I spoke with Mr. XXXX XXXX, Home Leading Area Manager of Flagstar, and I sent to him a new email. He sent me on XX/XX/2018, an email where he very kindly let me know that he escalated my case " through his management chain '' 9 ) On XX/XX/2018, I called Flagstar again and someone from the PMI Department told me that my case has not been yet resolved and that I have to wait for 3 to 4 weeks more for an answer ...
10 ) On XX/XX/2018 I wrote an email to the Office of the President ( Flagstar ) asking for his collaboration in this case.
11 ) On XX/XX/2018, I received an email from The Office of the President where they told me " We look forward to providing you a response within 30 business days ''.
10 ) Until today, after more than FIFTY-TWO ( 52 ) days since XX/XX/2018, I have not received any response.
I am not sure how many emails, phone calls, and months this company needs to answer a request from one of your clients. I am so sorry, but I am exhausted by this absurd bureaucratic system of Flagstar, and this is why I need your help. I would appreciate very much your kind consideration and valuable help in order to resolve this situation as soon as possible.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-12-03
Ashville, OH
Managing an account
Checking or savings account: Checking account
Cashing a check
Complaint: Our account was bought by Flagstar Bank on XX/XX/2018. We have been informed of the process since XX/XX/2018 when XXXX XXXX inform us of the plan buy. We have received out debit cards a few weeks back. Last week we received out checks and only my husband 's name appeared on them. I call and to inform them of the error and was told I would have to wait until Monday XX/XX/XXXX to have it taken care of. I called and waited for 45 minutes to speak to a banker to be told there is nothing he can do, that it was what XXXX XXXX send over to them. He told me I would have to call XXXX to have them reissue the check with the correct name. I called the number and was told they were just the printing company and have no way to change the name on a checking account. I turned around and called Flagstar back and waited on hold for 40 minutes to be told that I would have to go into a branch office which is 250 miles away, Then was told there is nothing they can do. I feel this is ridiculous that they should make good on the check. I have not ask to be send to Flagstar in the first place. I am already out time to change all my ACH because of this whole mess. They need to replace the check with the proper names on them.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-11-30
IL
Trouble during payment process
Mortgage: FHA mortgage
Complaint: we had a tree fall on a shed on our property, a shed we only use to store a couple lawnmowers. we recevied a payment from our insurance company endorsed it and sent it to the Flagstar mortgage company loss department. along with the insurance adjustors report and all other needed documents. these were sent in XX/XX/XXXX. every time we call they say they are reviewing the documents. we do not wish to re build the shed and have sent a letter explaining this. they now hold the money in escrow and we can not get an answer from them if they will approve sending the monies back to us. the appraisla of the property show that the value of the shed is minimal to the overall property value.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-11-29
AR
Trouble during payment process
Mortgage: FHA mortgage
Complaint: My name is XXXX XXXX on XXXX I lost my home to a house fire. I have an FHA mortgage with Flagstar Bank in the amount of {$78000.00}. My home was declared a total loss and my insurance company XXXX XXXX has paid the available amount of the insurance policy {$190000.00}. As required by law, " I have been told '' the checks have made to me and the mortgage holder Flagstar Bank. I have signed the checks and forwarded them to Flagstar Bank. Construction began in XX/XX/2018 and has been completed as of XX/XX/2018. Flagstar Bank was notified and a request for the final inspection was made at that time. To date I my property has not received a final inspection. Flagstar refuses to release any of my money. Flagstar is holding Approximately {$60000.00} of my money. I owe contractors and suppliers and stand in danger of having leans placed on my property because of my inability to pay my bills. Flagstar Bank collects my full mortgage payments even though they have never made {$6000.00} of that mortgage available. They are withholding payment for the general contractor n excess of {$31000.00}. Flagstar is withholding my recoverable depreciation in excess of {$18000.00}. From the beginning to end they, Flagstar Bank has used delay and bait and switch tactics to with hold of refuse payment. The latest example of this behavior is switching property claims processing companies the day after I requested a final inspection. This isn't unexpected. Sadly this fits the pattern I have experienced through out the entire process of dealing with Flagstar. They constantly claim they are not in receipt of documents they have previously claimed were in their procession. Flagstar computer malfunctions and makes it almost impossible to resubmit the documents they claim they don't have. Wait times on the phone exceed one hour and have been as long as one hour and forty five minutes. Employees have picked up the line that I was put on hold and asked me, " are you still there '', then they hung up on me.
I am seeking your assistance in receiving being all $ funds being held by Flagstar Bank in the matter Property Loss Claim XXXX XXXX XXXX , for XXXX XXXX for the property located at XXXX XXXX XXXX XXXX. XXXX XXXX Arkansas XXXX. I can be contacted at XXXX XXXX XXXX. My mailing address is XXXX XXXX XXXX XXXX XXXX Arkansas XXXX. Please keep in mind that this is an urgent matter in that I owe people money that have worked very hard to complete work on my house. Please help me to collect money owed to me from Flagstar Bank.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-11-26
Seattle, WA
Trouble during payment process
Mortgage: Other type of mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-11-26
Trouble during payment process
Mortgage: VA mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-11-25
Stafford, VA
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-11-23
Mount Tabor, NC
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-11-21
Medford, NJ
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-11-21
Macungie, PA
Struggling to pay mortgage
Mortgage: FHA mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-11-21
Orlando, FL
Trouble during payment process
Mortgage: Other type of mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-11-20
Houston, TX
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: My complaint concerns disaster loss claims handled by FlagStar bank. My house suffered flood damage from Hurricane Harvey in XX/XX/XXXX ; we were awarded $ XXXX insurance claim to repair our house. As per protocol FlagStar has held the claim in escrow and has provided installment payments as the repair work is done throughout XXXX.
In XX/XX/XXXX we were awarded and additional $ XXXX installment per completion of a property inspection ( per the inspection our property was 85 % complete at the time ). We sent the proper papers to receive our next installment but have heard no response from FlagStar. I have learned that the bank is undergoing a system change and is unable to handle ongoing claims in a timely manner so the processing of my claim has come to a screeching halt. It has been over a month and FlagStar has yet to act on processing my claim.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-11-19
Ernul, NC
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-11-19
Atl, GA
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-11-16
Amado, AZ
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-11-16
Leon Valley, TX
Struggling to pay mortgage
Mortgage: VA mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-11-16
Superstition Mtn, AZ
Trouble during payment process
Mortgage: FHA mortgage
Complaint: XXXX XXXX XXXX XXXX sold my Loan to Flagstar Bank in XXXX. XXXX informed me that Flagstar would be getting in contact within 30 days of the sale of the loan to let me know where I would be sending in payments, any changes to the loan agreement, and new loan number. In the past, when my loans were transferred from one company to the next it took 15-days for them to get back with me. I waited for the response and not came. Therefore, when it came closer to my XX/XX/XXXX billing date, I decided to send a partial payment to XXXX XXXX XXXX XXXX, knowing that they would transfer any money being paid to them to the new loan manager. I sent that payment in on XX/XX/2018. The payment was for {$420.00}. I did this through my XXXX online checking services. XXXX normally puts a partial payment into a suspense account to the full amount is paid.
I continued to wait for a notice from Flagstar. It still did not come in and it was 11 days past my XX/XX/XXXX billing date. I was getting nervous. So, I decided to pay the rest and sent it to XXXX XXXX XXXX XXXX thinking that it would get transferred to Flagstar right away. On XX/XX/2018, I send {$1400.00} to XXXX XXXX XXXX XXXX. I am thinking I should be in the clear because that mortgage payment should reach Flagstar.
I finally get a correspondence letter from Flagstar, stating that they are now the servicer of my mortgage and I need to send payments to them, etc and that my first mortgage payment should have been done on XX/XX/2018. Well, I was thinking that was kind of funny since this correspondence was dated the XX/XX/XXXX, XXXX. Not thinking anything of it, since I had already sent my XXXX Mortgage payment to XXXX and they should transfer those funds over to Flagstar. A few days go by and I started being bombarded with phone calls from XXXX. Not thinking anything of it, I did not answer any of the calls. Around three or four days of this, I finally decided to check my voice messages. It was Flagstar with an important business matter that needed to be taking care of. I call Flagstar and they tell me I am late with XXXX payment. I went on to explain the situation and they tell me not to worry about it that XXXX has 60-days to transfer over all things related to the loan that was sold to them. I hang up with the Loan Specialist. I continue to get the calls and then I get my statement telling me I am still behind on my XXXX payment. Feeling a little perturbed, I call Flagstar back to see whats going on ( this is around XX/XX/2018 ). They tell me that they have {$420.00} dollars sitting in a suspense account that was sent over to them from XXXX, but they have yet to receive the {$1400.00}. The Flagstar loan counselor tells me not to worry about it. If I paid XXXX, then they have to transfer all funds related to the loan that was transferred to Flagstar. Im like okay. I ask about the XXXX payment and they tell me I should hold off to see if the XXXX payment has arrived first or the XXXX payment will go towards the XXXX payment and then you will be behind on the XXXX payment. She then tells me not to be overly stressed about it because you will not have any negative effects on your credit for 60 days or late payment fees. However, we are now going on 16 days that my mortgage has been passed due which in fact should not be, since I have paid this payment. I decide to call XXXX to find out what is going on and they tell me they have transferred everything having to do with the loan. They tell me I should send a proof of payment from my bank showing that I paid the bill. I call back to Flagstar and they tell me that is not necessary and that technically XXXX has 60 days for this to happen. I keep telling them that XXXX has transferred everything. In the meantime, dont worry about it.
I keep getting phone calls from Flagstar for the next couple of weeks and I ignore it. Then I get a notice in the mail from Flagstar dated XX/XX/2018. This notice refers to potential foreclosure counseling and such. I really start to worry. I call back to Flagstar referring to the letters and constant phone calls. They tell me not to worry about it because these are done automatically. I tell them I am worried about it and I tell them that I paid the {$1400.00} owed to mortgage. They keep telling me they havent received it yet. I am getting perturbed because the {$1400.00} cleared my banking account along with the {$420.00} to cover my mortgage payment. They tell me they still have not received the second part that I owe. The thought that I paid {$1400.00}, it cleared my bank, and it was out there in limbo was making me very angry. In addition, Flagstar was technically accusing me of not paying my Mortgage payment on time. Which I did. I request that they contact XXXX for me to find out where my payment went. They tell me they could do that, but XXXX would not give out certain information about a loan from a Third Party. In my head, I am thinking you are not a Third Party anymore. You own the darn loan. I hang up with Flagstar hoping that they get in contact with XXXX. A few days past and my XXXX payment is due, so I pay that. I send {$1800.00} to Flagstar through my online checking services from my bank to make sure that is on time. It ends up clearing my bank. I do not receive any phone calls from Flagstar for a couple of days. Then I receive another one. Now they tell me, I still owe {$1300.00} for my XXXX payment. So, I call again. I get the same ole run around. The conversation goes in circles. I am frustrated so, I call XXXX again to find out what the XXXX is going on. They sent my {$420.00} payment, which was in Flagstars suspense count. I say I know this but what happened to the {$1400.00} dollars that I sent to them that was supposed to be transferred. They do a little digging and they tell me that the {$1400.00} dollars was received and cashed on XX/XX/2018. Three days after I sent it to them. I ask them then why hasnt it been transferred? The loan counselor tells me it normally takes two to three weeks to transfer and that it should have showed up on their end. She then tells me that sometimes when payments are broken up they tend to put some of the money towards the principle of the loan because they do not know if the payment was for the principle or the actual Mortgage payment. She tells me to call Flagstar back and find out if this happened and ask them to refund it from the principle and place it where it belongs which is the Mortgage payment. I take the advice I call Flagstar and to come to find out they received {$1400.00} from XXXX that they applied to my principle versus my mortgage. I ask them to do what the counselor at XXXX XXXX XXXX XXXX told me to do. The Loan Counselor from Flagstar says she is going to take care of it and apologizes. This all happens on XX/XX/2018. Two days later, I get a phone call from Flagstar again. They tell me to give them a call that it is important. I call them back and they tell me that the money that I sent for XXXX mortgage payment was applied for XXXX and I still owe {$1300.00} for XXXX. I lose it. I tell them that was taken care of on Tuesday the XX/XX/XXXX and I go on to explain again. This conversation lasts for close to 20 minutes. I keep tell him that my frustration is intended for him, but he would feel the say way if someone kept telling you that you didnt pay and in fact you did, but everybody keeps telling you didnt or they did not know where it is. I know for a fact that if it was on the other foot the person I was talking to would be upset because {$1400.00} of your money is nowhere to be found, but then it is found and then they are telling you that was not the case. He then tells me he is going to put me on hold. I am put on hold for another 10 minutes. In the process of waiting on hold, I am disconnected. I call back right away. I get a different counselor. I am overly frustrated at this point because I am going to have to go over the situation again. I explain to her it would be easier for me to talk to the original person I was talking too before I was disconnected. She puts me on hold and to try and get the counselor back on the phone. She then returns to tell me that she found the person and that he would call me back. He never called me back..It is yet to be resolved and I have until XX/XX/XXXX to get it resolved before negative effects start to occur.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-11-15
Federal Way, WA
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: I have recently ( XX/XX/2018 ) paid off a mortgage which closed 5 months ago (XX/XX/XXXX ). This mortgage has no prepayment penalty and I was able to pay off without it. And now I got notified by the broker ( XXXX XXXX ), that the lender ( Flagstar bank ) is charging the broker more than 10k of prepayment penalty and the broker wants me to pay the penality.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-11-15
Laguna Beach, CA
Incorrect information on your report
Mortgage: Conventional home mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-11-15
Fort Worth, TX
Struggling to pay mortgage
Mortgage: VA mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-11-14
Lewiston, ID
Managing an account
Checking or savings account: Checking account
Problem making or receiving payments
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-11-14
Merced, CA
Trouble during payment process
Mortgage: Other type of mortgage
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-11-13
OK
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: By letter dated XX/XX/XXXX, I received notice that my mortgage loan was being sold by XXXX XXXX to Flagstar Bank effective XX/XX/XXXX. I also receive an Annual Escrow Disclosure Statement dated XX/XX/XXXX, which analyzed my escrow account from XX/XX/XXXX through XX/XX/XXXX. That analysis, which indicated it was undertaken by XXXX XXXX, increased my monthly loan payments to {$2300.00}.
My mortgage loan payments are set to be automatically paid out of a brokerage account. I went online and adjusted future payments to accommodate the increase.
By letter dated XX/XX/XXXX, I received a late notice from Flagstar Bank stating that they had not received the monthly payment on my note and that the total amount due was {$110.00}. Since my payments were on automatic transfer, I was unclear at to how the payment was missed.
Upon review of the matter, I discovered that Flagstar bank had performed another Escrow Analysis of my account as of XX/XX/XXXX and increase the payment {$38.00} to {$2400.00} beginning with the XX/XX/XXXX payment. When they received the {$2300.00} payment on XX/XX/XXXX, it was placed in a suspense account and not applied to the loan. While they then had nine days to advise that the account was light {$38.00} ; Flagstar opted to wait until after the grace period ( XX/XX/XXXX ) to advise that they had not received the full payment due. A late notice dated XX/XX/XXXX advised of the shortfall and noted that a {$72.00} late charge was assessed on the account.
My complaint against Flagstar is threefold.
1. Annual Escrow Account Reviews should not occur more than annually. The payment was adjusted coinciding with the transfer of service to Flagstar on XX/XX/XXXX and should not have be adjusted again in XXXX.
2. Once the payment was received, I should have been notified of any deficiency immediately so that the shortfall could have been paid prior to triggering a late payment fee.
3. A {$72.00} late fee on a {$38.00} shortage is punitive as it amounts to nearly twice the amount the payment was short, which equates to a 2253 % annual interest charge, which is usurious.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief
2018-11-08
FL
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Flagstar Bank, paid the wrong insurance company from my escrow account on XXXX, somehow they sent a payment to XXXX which is not and was never my insurance company. My insurance company is XXXX XXXX XXXX XXXX XXXX XXXX, another payment was then sent to the correct company mentioned on XXXX.
The amount of XXXX has been debited from my escrow account twice.
Last week ( XXXX ), I called Flagstar and informed them of the issue, the first customer service agent said that the system was down and there was nothing she could do. I called back and spoke to someone in the insurance department that mentioned that she would investigate, this took 50 minutes of my time. Yesterday I got phone calls that I was not able to get to, I called back and the message said that a detailed voice mail was left ( but this is not so ). I called Flagstar again on XXXX and spent 90 minutes on the phone, after being transferred four times, I was informed that the system was still down, so they could effectively do nothing. They dont know the status of the first wrong payment, they cant send me a detailed list of transactions, nothing. The agent did mention that the new payment was successful ( per notes that she found somewhere else ), but thats not the issue that I asked to investigate, I need an investigation about the wrong payment being sent, and I need that money back in my escrow account.
This same agent yesterday mentioned that the first payment was sent to my old insurance company, I corrected her and told her that XXXX was never my insurance company, somewhere along someone mixed up my information.
Flagstar is also unanble to send information via emails per employees, additionally Ive asked about complaint or customer relationship department and theyve avoided the question ( they say they dont know ).
I believe that the issue is now affecting my escrow evaluation causing my payments to go up.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-11-08
Lomita, CA
Incorrect information on your report
Credit reporting, credit repair services, or other personal consumer reports: Credit reporting
Information belongs to someone else
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation