Flagstar Bank
Reviews and Complaints

I had problems with flagstar, but did close. My rate jumped over 1.75% the day before closing! I didn't have another place to go. I'm now in the process of trying to refinance or modify for over 7 months now. They just keep dragging feet. Something about these people I do not trust.

Description of the complaint:
My mortgage servicing Flagstar Bank received my application for a loan Modification and three months and a half after I sent all my documents they contract Sterling Home Retention Services so they can process all the Loans Modifications. So, know I need to sent all the paperwork again, because my bank is not capable of transfered. Ms. Shereta Murphy was asigned to handle my case I sent all my documents to her on 05/29/09 that she request on 05/27/09. She confirm was received and she forward for approved to Fannie Mai. I call her two weeks later she confirm that they approved Forbidian Plan I just need to make one payment in June 1... I sent my payment as required. After calling almost every day to this company leaving messages and calling my bank know one was able to provided any information about the status of my modification, finally a human bean answer and stated the the person tha was on charge of my account was fire and my case was left out... my Modification wasn't finalized, the bank continue the Fourcloure... The company that manage my condominum association received the court documentation confirming the my property still in Fourclosure and they are charging me some other fees additional to the one already added to my loan, just because this people doesn't care if I lost my property. I call today spoke to a Supervisor Rafael Santiago from Customer Service call ref#3412767 that stated they don't care because we are the one who fail to make the payments and I explain that I didn't fail because I whant to is because I was in Short Term Disability for more that three months.

I have a mortgage with flagstar bank. I had a fixed rate on my loan; but at the end of the first year my mortgage went up $90.00 a month. I called and asked how this could be when my taxes went down. The rude customer service person could not answer my questions and continually put me on hold. She finally gave me the answer that I had an escrow analysis done and they said I wouldn't have enough held in escrow because there has to be a certain amount left over after my taxes and insurance are paid. And that they didn't figure the right amount at closing for this. In my opinion $90.00 dollars a month is a big underestimation. But my biggest complaint is that towards the end of the conversation she told me "your family should have educated you on the ups and downs of taxes and insurance before you bought the house." I think this was very rude and unprofessional to say. On the upside I can't complain about the very courteous and professional loan officer that helped me acquire my loan. He did a very good job helping me with everything every step of the way. Of course he is no longer with the company.

I applied for a Loan modification they replied in 4mos that I had to apply for a home affordable loan denied in 2mos. Now back to a Loan Modification more waste of time they need everything again. Can't say if they will approve and how long it will take in the meantime money is scarce and may have to file bankruptcy for all the delays in approving a modification wasting my time eastern time zone. Only while I'm at work. Calling to only have a wait time of 15 to 20 min to get to a representative.

I have been a customer for four years and no has been able to return my calls, and when I plea my situation they don't even care. HELP someone

yep...flagstar is only looking out for themselves...even though they took bailout money...kinda making money at both ends...any way they can. to heck with their consumers or taxpayer money. looking for more evidence of their abusing taxpayer's bailout money...demo'ing they aren't working with anyone in good faith.

Flagstar's loss mitigation -aka Sterling home is a total fraudlent joke.

In the 6 months, this is what has happened.Now we're into month 7, new mortgage company gave us an foreclosure notice after 15 days.

We were told we qualified for their program due to "hardship" because of my brain damage and severe health issues and our note would be lower.I paid March's note and tried to pay others but flag Star refused payments and said I had to deal with Stearling.
Out of 6 months, 100's of documents faxed, 100's of documented long distance phone calls and 9 agents, 1 actually called.She told us based on our mortgage, my husbands wages and my disability (not received even after 3 yrs) our notes would be substancially lowered to under $300.

We received the "package" around the 3 month mark, to have a note right at a $1000, almost our original note.We called, talked to a supervisor and she told us to reject the offer in writing and explain and they would send another package.

Never another call, response or email- no acknowledgement we existed.We were placed on hold forever, our supposed agents never once contacted us other than the one mentioned.We continued to call daily.

We received a letter Sept 28th informing us our mortgage was sold to another company, due Oct.1st.
The new company has in less than 15 days never sent an actual note, just a letter demanding close to $11, 000 stated we never paid earlier payments (which we have proof they were paid ) and they would consider "maybe" working with us.
Today Oct.15th, we got a foreclosure letter from the new company.

Flagstar did a HAMP loan mod on my home in 2009. Modified the loan to 40 yr, 4% fixed. Now, Flagstar says that loan mod matured on 8/1/2014 and must be paid off. I have documents stating 40 yr, 4%, so I asked Flagstar in August to send me their documents where I signed a balloon note. Finally on 11/4/14 Flagstar sent me via email a copy of a loan mod dated 9/3/2009 with a balloon on 8/1/2014. The loan mod they transmitted to me is forged. Not my signature. This is a federally backed (FNMA) loan, forged. Even the notary is forged. I did not agree to a mod with a balloon, nor did they offer that. It was a straight 40 year maturity. I even have similar mod on another property with Flagstar under similar terms, 40 year mod, no balloon. The Flagstar loan officer that signed the forged document is Michael A. Tebo.

I see the last dated post was last year...Just wanted to say nothings changed with them. A year later they are still pulling all the same tricks, telling all the same lies. Someone should be investigating this co. they are ruining lives.

Worst mortgage company ever. Just got out of Chapter 13 Bankruptcy and they are trying very hard to foreclosure on me. I hired attorney to reinstate the mortgage.

I guess we can join this band wagon. Went thru loss mitigation jumped thru all they're hoops then the modified loan papers were wrong so they said they would fix them now this process took 4mths off and on of trying to get someone to answer the phone or call us back we are still waiting now a friend just told us its listed in the local paper as a foreclosure we haveb't even recieved a notice so if anybody forming a group suit against them let us know. We would join forces with you. Our house is listed on craigslist under country living in starke florida. Oh and the land has been in the family 5 generations

Flagstar bank is the worst bank for a mortgage...My husband is filing chapter 13 and trying to lower the payments in Flagstar and went into mediation and they immediately wanted to put our house in forclosure. The represtentative from Flagstar was a beotch..Even the mediator was saying to file a motion against them.. We just wanted lower payments...Now we are taking them to court.

i bought a home and flag star bank was my mortgage holder i was raising my 2 kids there when upon me falling ill with a serious health issue just trying to work anything out they went ahead a foreclosed on me when i hired a lawyer to handle my case he said they already took it to Cort and won the case i never got any paperwork its a shame that me and the kids had 3 days to get out of the house. that's fine cause one day they are going to face god and tell him just what they did to us and believe me i will be glad to hold the gate to hell so they can pass

Flagstar gave me the run around also before they foreclosed on me, I would send in all the documents they required, only to tell me to resend because it may have gotten lost because turn over was so great, when the Home modification program was first implemented. also they had another company Sterling Home Retention handling the modification paper work, that didn't last long after submitting all of my documents to them, Flagstar said they would no longer be using them. and to resend all documents again for the modification, I made all the trial payments as agreed, and they sent me a permanent modification packet, they also must have had a change of heart because they stamped and sealed the documents, and right before December a week before Christmas they called me and said they would be sending me the documents null and void. Which led me to believe they was going to Foreclose all alone because it more profitable for them. Stay away from this company.

by the way "You don't have to be late to qualify for HAMP" Flagstar has lied about this. FHA guidelines state no such thing. Please make complaints to FHA, Consumer Affairs.

I am so sick of hearing about these issues. Stay away from FLAGSTAR BANK they lie, they are crooked! Banks like FLAGSTAR are one of the reasons for this mortgage meltdown. Besides every other Financial institution and Real estate companies participation. I understand home owners applied for loans they thought they could pay for. No one anticipates loosing their job, becoming ill, getting divorced, etc... Still banks are playing hardball and the HAMP program is full of S***! It reminds me of the pyramid game and we are the victims while Big Banks and our Government profit from our demise. As far as the American Dream we are living in a Nightmare. Home prices may be falling and it is a buyers market at the expense of those Americans loosing there homes.

OMG! I could cry after reading all these. I am with Flagstar and too have been told to fall behind in order to remodify. Now we are being told we have to first apply for payment modification. Which means... Pay more each month to get caught up... and how am I to do this when I can't pay the monthly fee as is. I just don't get this. Help is defenitly not around.

We are in the process of trying to get our motrgage approved. The underwriter at Flagstar informed us (tthe night before our 1st scheduled closing) that they do not approve of a FEDERAL grant that we recieved to help us with closing costs. We had to wait (and get our seller to wait) over 45 days for that grant to process. The money is now here and this lady says we can not get a FEDERAL loan because she does not "like" this grant program and she thinks it is not "legal".

She first came at us at 4pm the day before the closing (a Wed) to tell us that she does not approve of the fee that our Grant Organization charges (a processing fee). The day of closing with get the Org. to agree (reluctantly) to drop their fee and just give us the grant. She does not get back with us until Friday.

Friday, late in the afternoon; she tells our realtor that now, she just plain doesnt approve of the grant money in general. She tells us this at 4pm on the Friday before a holiday exended weekend. Thanks alot. She had been informed that there was a poor couple sitting in an empty apartment with a full moving truck waiting.

Flagstar has approved hundreds of loans with this same first time home buyers grant program. This one underwriter decides that we cannot. All of our things are in a storage facility near our new house. We had a uhaul truck loaded and ready to go for closing. We could not afford to keep the uhaul any longer and we dropped our stuff off near our house. Now, we have dropped the grant and we are waiting on approval without it. She has now drawn this out a whole week. Over a 5k federal grant.

That's nothing... Try working at the headquarters in Troy, MI. We have a new VP for a certain department who is supposivly having an affair with one of his employees. His wife comes in screaming and carrying on for hours about how the one girl is a [censored], the wife also works for Flagstar. It has been heard that the accused girl and the VP often go out to dinner. Now they are transferring the accused girl to a different department and the new VP is getting a divorce. Sounds fishy to me. Also there are alot of bible freeks that work there. If you are not one of them they outcast you and make you feel horrible. If you complain to HR about it, they don't see anything wrong and turn their cheek the other way.

I have had multiple issues with this bank. I wrote a 3 page letter about my concerns to the regional managers and NEVER received any response from them. This is customer service that they brag about? I just moved a lg amt of savings and direct deposit to Bank America.
Three years ago they stopped allowing bank cards to be used abroad. Unfortunately, the customers were never informed and when I arrived in Rome - I went to the ATM and received a message my card was denied. When I retured home I was told, " it is for our safety of our customers!" Thank God my husband banked @ Comerica so I could use his card to access cash! Last but not least...our mortage was moved to a company out of state and we were not aware until we recieved our statements from them! Did they ever think we deserved the right ot know this on our mortgage and have the opprtunity to shop around before they "sold it" out of state! How about keeping business in the state!
When you boast about your "new wave" of banking and custoner care, you are responsive to both + and - issues promptly to resolve them. Despite calls to the bank where I did business...not once did the bank manager return my call, so I went to the regional brance (Troy) and still did not get one response from the regional managers. This is poor business 101! I am getting great service now!

I had a very similar experience. But in my case I spoke to a manager and she said the same thing. Other banks I have worked with are very willing to waive late fees if there is a valid reason like yours. I will never work with them again.

Person withdue funds - -I was not ask if it was ok

Dec 14 my intire social sercurty check was taken