FLAGSTAR BANK, FSB

2019-06-17

Auburn Hills, MI

Opening an account

Checking or savings account: Checking account

Account opened as a result of fraud
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-06-17

Closing on a mortgage

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

Timely Response

2019-06-12

Vienna, 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

Timely Response

2019-06-12

Liverpool, TX

Struggling to pay mortgage

Mortgage: FHA mortgage

Complaint: I submitted a loan modification package and was denied. I have appealed the denial and informed the lender I would like to do a repayment plan and my mother will assist me with repayment by buying the current mortgage and adding additional payment. I have provided the lender pay stubs from myself and my mother and was still denied. I am facing foreclosure and would like to do everything that I could to save my home. I have made some adjustments and I can afford my mortgage going forward. I dont think I was giving a review with loan mitigation department. I ask to have a chance to catch up on my mortgage, I cherish my home and will apply to the fullest to stay in my home. I am employed with XXXX County Sheriff Department in XXXX Texas. My daughter and I have no place to live if foreclosed please help me
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-06-12

Chattanooga, TN

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

Timely Response

2019-06-11

Dublin, 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

Timely Response

2019-06-11

Washington, DC

Problem with a credit reporting company's investigation into an existing problem

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Their investigation did not fix an error on your report
Complaint: XXXX Mortgage sold my home loan to Flagstar on or around XX/XX/XXXX. I recd notification via mail correspondence of this transfer latter part of XXXX which noted company would forward payments to new company for XXXX days XXXX XXXX months XXXX. In XXXX, I started to receive threatening and intimating solicitation calls and certified mail from Flagstar stating I was in default approximately {XXXX} including late fees. On XX/XX/XXXX, I spoke to Flagstar representative who shared that no payments had been forwarded from XXXX. In turn, I called XXXX and was told that my acct had been closed and there were no proofs of payments on file. I then confirmed with my bank, XXXX XXXX XXXX, that payments had been sent and cleared XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX. I was given proof of payment history which was forwarded to Flagstar along with a completed consumer dispute report that requested that company rectify the negative reporting to the bureaus, as instructed to do so. Until present, Flagstar continues to submit negative credit reports of missed payments to the XXXX credit bureaus, which have caused my score to decrease from XXXX to XXXX. I have spoken to company on several occasions to avoid continued harassment from solicitation calls and letters ranging from XXXX to present from the debt collection dept. Flagstar continued to suggest that writers payments forwarded from XXXX and made to the company personally for the months of XXXX, XXXX, and XXXX could not be located and/or were processed well after the payment dates. Proof of these payments were also forwarded to this company who still REFUSED to submit corrections to the credit bureaus. On XX/XX/XXXX, I spoke to a representative of the company who confirmed/verified that ironically/conveniently, my payments had been located and they would submit corrections. Rep also stated that when the loan was sold, that XXXX did not enclose a direct contact number for writer. She stated that when XXXX finally located my number, they called which was XX/XX/XXXX. Prior to ending the call, I asked if the XXXX missed payment could be removed as wel and company declined to submit corrections stating, we cant do that because we never received the payment and it was XXXX days late. Further explained as I have numerous times that the payments were either late, or never recd due to the selling companies negligence and not myself as the consumer. Provided addl proof from my bank account that XXXX refunded my XX/XX/XXXX mortgage payment on XX/XX/XXXX and that I was never made aware that it was not forwarded and it was not returned to me in a timely fashion. With this, Im formally issuing this complaint out of unfairness as a consumer who has never missed a mortgage payment, is responsible and values my credit score. Both companies have done a disservice to me and Flagstar continues to REFUSE to remove the XXXX missed payment report although Ive provided an astronomical amount of documentation. This will and is affecting my future endeavors of owning another property or refinancing amongst other financial goals. Please review, investigate and help me with this unjust situation. Thanks
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-06-11

New Bedford, MA

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

Timely Response

2019-06-11

Utica, NY

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

Timely Response

2019-06-09

Port Orange, FL

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

Timely Response

2019-06-07

Florida, OH

Problem with the payoff process at the end of the loan

Payday loan, title loan, or personal loan: Personal line of credit

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-06-05

Applying for a mortgage or refinancing an existing mortgage

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

Timely Response

2019-06-04

Tarzana, CA

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Im writing this to document an egregious error Flagstar Bank made that is causing my family a significant financial hardship, and to seek assistance with remaining in good standing with this organization. After a year of making timely mortgage payments, starting in XXXX of 2017, we received a letter stating Flagstar had miscalculated our monthly payment and lowered it by approximately {$400.00}. For the past year, we have continued making timely payments at this new rate. We recently received another letter stating that Flagstar had again miscalculated, and we now owe {$7000.00}. This is no small amount! We dont have the funds to cover this, and will have to opt for ttheir Option 2 which is to make monthly payments of {$580.00}. This is on top of the increase they just announced of {$430.00}, costing me an extra {$1000.00} extra per month, which is way outside of the tight budget weve had for the past year! In addition, weve already come to question this banks business practices after recently trying to refinance a home equity loan. We were instructed by their personnel to email documents containing sensitive personal and financial details. When I requested a more secure portal or XXXX type of environment to transmit the data, we were informed they had none. I offered my own solution of password protecting a zip file, which I was told couldnt be opened at their end. I found this very surprising for a financial institution that I assume undergoes regular audits. In the end, we canceled the application. I was instructed to communicate our issue using a specific email address during a conversation I had with a member of your Customer Service team. I have done so twice and have not received a response.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-06-04

Phelan, CA

Closing an account

Checking or savings account: Other banking product or service

Company closed your account
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-06-03

AL

Trouble during payment process

Mortgage: VA mortgage

Complaint: Flagstar Bank or rather Mortgage Company assumed my mortgage from the company I financed with interest smart home loans in XXXX. By XXXX of XXXX suspicious movement of XXXX 's started occurring in my escrow account. Money was being taken out and put back in and taken out and put back in again which alerted need that there might be some type of money washing scheme going on. Shortly after I found out that Flagstar Bank had taken {$1900.00} out of my escrow account to purchase Hazard insurance from some type of shell company that they own to cover my wind and hail insurance. The problem with this is that my elected wind and hail insurance Company is XXXX XXXX XXXX XXXX and they had already notified Flagstar on four separate occasions that the payment was due from their company but we're ignored. Flagstar instead of paying the {$670.00} elected to take over {$1900.00} out of my account and purchase insurance from one of their friends companies. After this I had a definite mortgage shortage of which they were glad to loan me money and then assess me fees because I did not have enough money in my escrow. When I presented them with all the paperwork showing that not only have I never missed a payment but that they were the ones responsible for paying XXXX XXXX XXXX XXXX out of my Escrow in a timely manner and not me. Just turned into a seven-month process in which they continued to try to purchase more Hazard insurance and kept putting me off telling me that they were escalating my case and would get back to me but no one ever did. The few phone calls I got from different managers at the company had no way of knowing any of the information that was part of another division for example the escrow department it's not able to see your loan Insurance status and customer service it's not allowed to see your escrow or your insurance status. So these managers have no power to fix anything but only two push the escalation button that goes nowhere. After numerous tries to reason with Flagstar Bank I am out of options. The one time that they responded and said that they were returning the money to my account, only a partial payment was made into the account and then later that day it was taken back out and I was told that I owed it to them for fronting me some escrow money. I explained to them that I did not owe them anything they stole my escrow money and never returned it and I did not need to borrow money from them because I already had it in my account they have now begun charging me over {$1200.00} a month for a mortgage that was around {$850.00}. I can not afford to pay this as I am in the process of losing my job because of a XXXX and my income will be greatly affected. I would have struggled with the original {$850.00} but the XXXX plus dollars is way out of any type of reason. I really need some help auditing their books hey insurance company is XXXX XXXX XXXX XXXX and they had already notified Flagstar for separate occasions that the payment was due from their company but we're ignored. Flagstar instead of paying the {$670.00} elected to take it over {$1900.00} out of my account and purchase insurance from one of their friend companies. After this I had a definite mortgage shortage of which saver glad to loan me money and then assess XXXX 's because I did not have enough money in my escrow. When I presented them with all the paperwork showing that not only have I never missed a payment but that they were the ones responsible for paying XXXX XXXX XXXX XXXX out of my escrow in a timely manner and not me. Just turned into a 7 month process in which they continued to try to purchase more hazard insurance and kept putting me off telling me that they were escalated my case and would get back to me but no one ever did. The few phone calls I got from different managers at the company had no way of knowing any of the information that was part of another division for example the escrow Department is not able to see your loan insurance status and customer service is not allowed to see your escrow or your insurance status. So these managers have no power to fix anything but only to push the escalation button that goes nowhere. After numerous tries to reason with Flagstar Bank I am out of options. The one time that they responded and said that they were returning the money to my account, only a partial payment was made into the account and then later that day it was taking back out and I was told that I owed it to them for fronting me some extra money. I explain to them that I do not owe them anything they stole my extra money and never returned it and I did not need to borrow money from them because I already had it in my account they have now begun charging me over {$1200.00} a month for a mortgage that was around {$850.00}. I can not afford to pay this as I am in the process of losing my job because of the XXXX and my income will be greatly affected. I would have struggled with the original {$850.00} but the XXXX plus dollars is way out of any type of reason. I really need some help or nothing there foots and getting back my money. I managed to get ahold of my escrow records which show all of the illegal transactions. At this point I have sent Flagstar all of the legal information showing proof of insurance and the letters from XXXX XXXX XXXX XXXX proving that they were billed for the proper insurance and refuse to pay it, they refused to respond or audit my account to the original condition it should be in. At this point I'm out thousands of dollars and at the same time they are ruining my credit and calling my house several times everyday threatening to ruin it even worse even though I'm making my full payment. When I asked if I could take my insurance away from them and pay for it myself to alleviate this problem they told me no, that I have a VA loan and that I had to let them handle my escrow and my insurance. I am being held XXXX by this company and it's least for money with no recourse. Please tell me there's an answer and that your company can help. If anyone else is in the same situation and has found a way to make these people pay for what they have stolen. I would welcome the knowledge.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-05-31

East Rockaway, NY

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: I am an XXXX year old homeowner who fell behind on my mortgage payment due to my 1st battle with XXXX XXXX. After trying to get back on track, the XXXX returned even more aggressive and forced me to have a mastectomy ( XXXX removal ) which put me out of commission for months where I fell seriously behind in my payments. In XX/XX/XXXX I hired an attorney to assist me in obtaining a modification with my mortgage company, Flagstar Bank, as all other mitigation attempts were failing. The attorney 's office filed the complete modification package and upon the review, Flagstar Bank began to nitpick at the clarity of the documents that were legible, and said that documents that definitely were sent, were missing. We would have to send them back over and over again. Once they received the clearer documents, they still denied our modification claiming that there were more documents missing although the attorney had sent in all of the documents that matched their request and all of the additional documentation that Flagstar Bank required. Flagstar Bank would send out an incomplete package letter, as if it was truly a deficient application. The attorney had to reapply to Flagstar Bank several times between XXXX as Flagstar Bank kept ignoring documents and ignoring our proven Income that we were sending. On XX/XX/XXXX an exhausted attorney 's office sent XXXX a letter ( attached herein ), the letter requested that my modification be given to a supervisor and reviewed for accuracy as our 2nd modification application was denied due to insufficient income. My income at the time would have been able to pay my modification payment and monthly bills and still have over {$1500.00} left over, much more than the {$200.00} overage that is required by Flagstar Bank. They used their own numbers and ignored all income that we had sent them. The attorney 's letter laid out all of my correct income in detail and it was ignored, and my modification was turned down once again. Each time the modification is turned down we are required to refile papers. I recently asked my attorney for a copy of my file and the file was 7 inches high ( thick ) as Flagstar Bank is heartless in their relentless pursuit to take my home. Today I am submitting this complaint against Flagstar Bank along with another Modification Package with hopes that the Consumer Financial Protection Bureau will be able to get Flagstar Bank to operate fairly and ethically. In a second letter to Flagstar Bank from my attorney dated XX/XX/XXXX ( Attached ), he threatened to file a complaint with the Consumer Financial Protection Bureau to ensure a fair review of my modification. Even then, they continued with their unscrupulous tactics. On around XX/XX/XXXX My son and I spoke to XXXX XXXX of Flagstar Bank, she told us that I had to submit a new modification package before XX/XX/XXXX, 37 days before the new foreclosure sale date. We worked diligently to submit a complete package with XXXX confirming each document was received as requested. On XX/XX/XXXX the Social Security Office sent me the last anticipated document that we needed to complete the file and we sent it to XXXX XXXX at Flagstar Bank. She made us feel like we accomplished the process in time and things would workout based on a completed package and the income that we submitted. A few days after we called in and spoke to a loss mitigation specialist who told us that XXXX XXXX had been transferred to a different department and that we didn't have all the documents requested to accept the modification package. I asked him to review the package and he said as far as he can see everything indeed was there and went on to get his supervisor/manager, Mr. XXXX, on the line to show him that the package was complete. Mr. XXXX also looked at the documents and confirmed that all was received. He promised that he would get back to us later that same day or the next day to get our modification sorted out. He never returned the call although we called him countless times and he knew that all of our documents were received but Flagstar Bank proceeded to the foreclosure sale date anyway. We filed bankruptcy and the foreclosure sale was stopped. We are now out of bankruptcy and asking that the Consumer Financial Protection Bureau intervene and Investigate Flagstar Bank for its BAD FAITH practices and help us to get a fair modification decision. So many individuals like me must be suffering at the hands of these type of wolves in sheeps clothing banks. We were recently advised that we must file this package immediately as the 37-day window to a new foreclosure sale date of XX/XX/XXXX will begin on Monday XX/XX/XXXX. We went over the checklist and have provided all of what was requested. please review, advise and send our package to Flagstar Bank. Thank You.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-05-31

Lansing, MI

Managing an account

Checking or savings account: Other banking product or service

Deposits and withdrawals
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-05-31

Grand Junction, CO

Trouble during payment process

Mortgage: Other type of mortgage

Complaint: I had my townhouse financed through XXXX XXXX for about 9 years. XX/XX/2019 I was notified that my loan was sold to Flagstar Bank. My loan is PITI with payments of {$430.00} per month. On XX/XX/2019 I sent my first payment to Flagstar, XX/XX/2019 sent my second payment, XX/XX/2019 sent my third payment. On XX/XX/2019 I was notified by Flagstar that I was behind on my loan and was told that I needed to pay $ XXXX XX/XX/XXXX. I have never missed a payment! I called Flagstar ( I was on the phone with them fo 4 hours ) to se what the problem was. I was told that when Flagstar bought my loan that they also bought insurance for me at a price of {$1900.00}, and that my new payment is {$820.00} per month! I informed Flagstar that I already have insurance on my townhome with XXXX. I have been insured with XXXX the whole time that I have owned my home. I was then transferred to Flagstar 's insurance division ( had a three way call ). Told them that I already had insurance and had XXXX Fax my policy over to them ( it is good thru XX/XX/2019 ). The person that I had talked to in the insurance division with Flagstar said I see on you paperwork that you do have insurance, and it looks like you should get a refund. Then I was told that I needed to make a payment of {$820.00} to get my loan up to date! I have never missed a payment!!! I never gave Flagstar permission to purchase insurance for me. I already had insurance. Flagstar is now charging me late fees and are about to hurt my credit. I am afraid if this doesn't get straightened out soon I may lose my home. I am on XXXX and can not afford all of this.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-05-29

Homestead, FL

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

Timely Response

2019-05-29

Countryside, KS

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

Timely Response

2019-05-28

Liverpool, TX

Trouble during payment process

Mortgage: Other type of mortgage

Complaint: Within my monthly mortgage payment to Flagstar Bank, I include my insurance and taxes as a part of my escrow payment. For the past two years, my mortgage company has mailed and called me to tell me that I needed to purchase an insurance plan for my home, even though it is included inside of my escrow payment. I have told the mortgage company each time that it's their responsibility to pay the insurance bill because I am paying them via the escrow account. Here is a detailed date of events this year : XX/XX/XXXX : Mailed me notice to say that they don't have proof of XXXX insurance for my house and that I would need to purchase it and show them proof. I called them immediately afterwards to tell them that it is included in my escrow payment and would not be purchasing a second insurance plan. The mortgage company then was able to show that they did indeed purchase insurance, but they did so three days after my previous policy expired and that I would need to purchase a policy for the three day gap ( XX/XX/XXXX - XX/XX/XXXX ). XX/XX/XXXX : ( letter dated for XX/XX/XXXX, but I received it later than that ) Received a second notice saying that I needed to purchase insurance for the three day gap or else they would purchase it themselves and it would cost me XXXX. The annual policy is less than 2000 dollars. XX/XX/XXXX : Called insurance company to buy policy for three days, back dated, as my mortgage company requested. Insurance company said they do not do that and provided me with documentation showing that mortgage company paid the bill for my insurance late, most likely to gain more interest from my escrow payment. Mortgage company claimed that while the insurance company did mail and fax the invoice one month ahead of time, they sent it to the wrong address because the bank has changed their PO box . The insurance company showed documentation that the PO box and fax number change notification was mailed out in XX/XX/XXXX, more than three months after the original invoice was sent out. Moreover, the bank mailed payment late, it was post marked on a date that would identify it as being late, and was the correct amount ( price had increased from year prior ). Essentially, the bank held onto my escrow payment last minute, paid the bill late, and I had a gap in coverage. Then - they tried to coerce me into paying XXXX dollars for three days of insurance coverage, which is 67 times more than what it actually costs, due to their obvious mishandling of my escrow money. There is documentation that can be provided if requested.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-05-25

Haven, WI

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

Timely Response

2019-05-24

DE

Trouble during payment process

Mortgage: Conventional home mortgage

Complaint: Flagstar Bank, XXXX XXXX XXXX XXXX, MI XXXX is engaged in an unfair and deceptive practice with regards to making mortgage loan payments. Our mortgage was recently transferred to Flagstar so I called to set up recurring payments. I was asked if I would like to set up bi-monthly payments that would save on interest costs over the life of the loan. I know the difference between bi-monthly and bi-weekly. I specifically asked the specialist if the payments would be taken twice per month, reducing the outstanding principal with each payment, thereby reducing the interest paid monthly to reduce the term of the loan. She responded yes that was the case. I asked the question again, just to be sure of what was being offered and again she answered in the affirmative. I agreed to have the paperwork sent to me, but upon reading it, realized the agreement did not match what I had been told on the phone. The agreement would take the normal monthly payment ( e.g. {$1000.00} ), divide it in half ( {$500.00} ) and deduct that amount from my checking account every 14 days ( 2 weeks ), not twice per month. So there would be months where three payments would be made instead of two. These payments would be taken and held in advance of the due date, so even though I have lost the use of the funds, it would not count towards principal reduction. Additionally, the {$500.00} example payment would be held and unapplied until a full {$1000.00} payment is deducted. So, the 'benefit ' of the program would only be realized at the end of the year. I understand that the paperwork states bi-weekly but that is not how it is described on the phone and sold to the consumer. Furthermore, the consumer should get immediate credit against the principal balance, for the deducted funds taken every two weeks.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-05-23

MA

Closing on a mortgage

Mortgage: Conventional home mortgage

Complaint: a mortgage company called XXXX gave me a loan for an investment property. From XX/XX/XXXX until XX/XX/XXXX XXXX ( XXXX XXXX XXXX ) was paying escrow taxes to the wrong lot number for the condo I own. After 3 years I was notified by the town the condo is located in, that they put a lien on the property for non-payment of property tax. I called XXXX, they admitted fault and paid all of {$4000.00} owed to the town taxing authorities. XXXX then started to charge me thru additional mortgage charges to get the tax money they paid to the town. XXXX said that they would charge me until all of the {$4000.00} was paid to them and if I did not pay, it would affect my credit and they would repo the property. I complained and called them once a week. XXXX sold the loan to FLAGSTAR bank. I explained the problem with XXXX to the new holder of the loan FLAGSTAR, but they just kept charging me extra on my payment until my escrow is down to negative {$1200.00} Both XXXX and now FLAGSTAR owe me {$2800.00} that I was charged by extra payment on my loan by raising my mortgage payment. I am being robbed and threatened that if I don't pay, this bank will ruin my credit and foreclose on the property. I have called both banks NUMEROUS times and they say they will investigate and nothing happens.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2019-05-22

Arboga, CA

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

Timely Response