Flagstar Bank reviews & complaints 41 - 78
Flagstar Bank complaints 78
Flagstar Bank - discrimination in advertising
I was in the branch office in Coldwater, MI yesterday. I live in the state of Michigan. I choose to be a fan of The Ohio State University Buckeyes. I am very disappointed and disgusted by the bad choice of advertising for the Flagstar Visa card. Having a team logo on your card is nice, but putting down one particular team in your advertising is tacky. This must have been decided in a team room after a 2 martini lunch. I refer to the line on the advertising that states, in BOLD print, "Friends don't let friends bank like a Buckeye". Flagstar boasts customer satisfaction; seems more relevant if you are a Wolverine fan. Flagstar claims it is dedicated to providing the best service; now looks like Michigan fans will be more satisfied. My husband and I have taken great offense, as should all fans of Michigan State, Grand Valley State, Central MI, Western MI, etc. Please know that as soon as I can have my direct deposit redirected I will be closing my accounts and stopping my business at Flagstar Bank.
with all the complaints on file this company should not be allowed to write any more loans... I have been making all my mortgage payments on time by auto pay set up from bank to bank, then one day I...Read full review
On September 2, 2012 my husband and I lost half of our house due to a plumbing leak. We have followed all the insurance requirements and have notified our lender (Flagstar). Since notifying our...Read full review
Flagstar Bank - refused short sale offer even though was the fair market value & instead bought our house in bergen county, nj for $100.00
After almost 2 yrs. trying to do a short sale with Flagstar because our mortgage was under water (fair market value less than what was owned) & with Flagstar constantly losing paperwork, hundreds of...Read full review
Flagstar Bank - loss mitigation/ foreclosure
I feel that I have been fraudulently denied the ability to short sale my home or receive any assistance through their Loss Mitigation program.
In March of 2011, based on a host of medical issues and the very strong advice of my Doctor, I left my job. I was not able to draw unemployment so I had no income. At that time I contacted the Loss Mitigation department of Flagstar to pursue a Deed in Lieu of Foreclosure. Between March of 2011 and July of 2011 I had a total of 26 conversations with the Loss Mitigation department. The process requires providing a list of documentation. During this time period I faxed a total of 215 documents (the original number of required documents was 56). The reason this number is so high is because they repeatedly told me that they had either not received the documents, or that some portion of the documents were not legible. I was actually told that if a single word is not legible they will “throw out the document”. During this time they “closed” my file twice because they stated I had not “provided the required paperwork in a timely fashion”. If they continuously “lose” or “throw out” paperwork then it becomes impossible to provide it in a timely manner-even if I am faxing it to them repeatedly. Also-each time I contacted them I was placed on hold an average of 45 minutes…the longest being 69 minutes. In July I finally gave up out of frustration and decided to continue to try and sell the home (it has been on the market since Oct. 2009-the last year as a short sale).
In February of 2012 I received (my first) offer on the home. It would have to be a short sale, but wanted to pursue this option with Flagstar. I began the process with them again and gathered the required documents and faxed them in early February. It is now May 8th and it was only as of last week that they finally stated I had provided what they needed to move forward to make a determination if I was eligible for a short sale. My Realtor, has also had this same experience with them (placing him on hold for very long periods of time, claiming he has not faxed them required paperwork, etc).By the way-the house is due to go up for auction on May 11th. I can’t help but feel they are purposely delaying so they can move forward with the auction. In the last 12 weeks I faxed paperwork almost daily with the same responses….we have lost some of the paperwork, some of it was not legible, some of it they claimed they simply did not receive (I have copies of fax confirmations). Again, each phone call involved being placed on hold for 30-45 minutes. I had also provided my new mailing address and phone number a total of 5 times (they continued to send correspondence to my old address). Today I was finally told that the Loss Mitigation department cannot change my mailing address, only customer service can do that. I asked the person I was speaking with today why they did not tell me that weeks ago and she responded that they “had recently changed their system and perhaps the people I spoke with were not aware they could not make those changes”.
Likewise, when I called today to check the status of where things were, I was told that they had been “trying to contact me with no luck” to do a financial interview. This is because they had been trying to reach me on my old number ( again-I had provided my new number a total of 5 times). During the Financial Interview, when reviewing my yearly gross income, she stated, that according to their calculations, I made $28, 350 per year. I told her this was incorrect. I make $24, 960 per year. I had provided them with my offer letter from my employer that clearly states my hourly wage and hours per week that I work. She stated they use my paystubs to figure my yearly income. Up to this point I had provided 4 paystubs. Each varies due to the cut off dates of the pay periods (some will have 80 hours, some will have 88). The particular paystub they chose to use had 96 hours on it due to the fact that I had 8 extra hours on it because I had neglected to record a day on the previous pay cycle. My point is: out of 4 paystubs I provided they chose to use the one with the highest amount to figure my income. I clearly make $24, 960 per year. This is indisputable. Yet they are insisting I make $28, 340 per year. When I tried to explain my concern….basing a financial decision based on an incorrect income amount…she became very hostile. Told me that it was not “uncommon for people to be wrong about the amount of money they make per year” and that there was nothing she could do about it and was not going to discuss it with me any further.
Update as of this morning 5/9: I called them 5 times and was either disconnected or sent to the wrong department (and then disconnected again). I finally was able to speak with someone and was told I did not qualify for a short sale because I was no longer living in the home and that they would not delay the auction to discuss this further. She was rude and basically hung up on me when I tried to ask questions. In the (over year)I have been talking with the loss mitigation department not once did they EVER say anything to me about not qualifying to short sell due to not living in the house. They have been aware I have not lived there since last May (one, because I had another address and two, because I have told them repeatedly I do not live there, and they have even asked me several times).
I feel that Flagstar has adopted a policy of doing everything in their power to dissuade people from pursuing other options than foreclosure (they stop due to frustration or confusion). I feel they intentionally do things that impede the ability to move forward with the process, i.e. losing paperwork, throwing it out, claiming they never received it, closing the file and making you start over from scratch because they did not receive the paperwork in a timely way. Oh, and placing you on hold for extended periods of time (I cannot tell you how many minutes they have eaten up of my cell minutes). Their decision to erroneously and blatantly use an incorrect yearly gross income amount is nothing short of criminal and fraudulent. And again, denying me based on the fact I do not live in the home was never once discussed with me in the last year, in spite of the fact they clearly knew I was not living in the home.
Again, I feel that since the beginning Flagstar’s prime directive has been to foreclose on the home and I feel they have fraudulently denied me the opportunity to short sale the home.
Flagstar Bank - loan service
My VA home loan was sold to Flagstar bank in Michigan or PA, I'm not sure which. And was called a 'dumb***" by one lady and basically told they couldn't help me by the others. Horrible customer service and I hope there's a way to get my loan to a bank that actually has good customer service... that would be awesome. Maybe a complaint to the VA department would help.
Flagstar Bank - rude and misread client's info all the timel
Flagstar increased my escrow monthly payment without notifying me last month. They called me late last month saying they put my last month's payment on hold because its short on escrow amount. I paid the escrow difference over the phone with additional $15 processing fee. They promised to apply both payments to my account and asked me to called back in 24-48 hours to waive the late fee. So I called back in 2 days, spoke with a lady named 'Carmen'. She confirmed that late fee was never charged and everything was fine. After 2 weeks, I received another call from Flagstar saying I didn't make this month's payment. I called back and spoke with a lady named 'Dee'. I tried to explain the situation to her and ask what's going on. But she is SUPER RUDE and would not allow me to talk at all. After 20 minutes struglle with her, I finally realized that Flagstar took part of my last month's payment and used it to pay for a $89 late fee. Therefore, my last month's payment was $89 short. When I called 2 weeks ago and spoke with Carmen, she misread my account information. When I complained to 'Dee' on they could misread account information being a bank professional, Dee said:'IT HAPPENS ALL THE TIME!' That is really scary to know that FLAGSTAR EMPLOYEES MISREAD CLIENTS' INFORMATION ALL THE TIME. When I expressed my concern over her comment, she again would not allow me to talk at all. CanNOT imagine how POOR and UNPROFESSIONAL their service is and how RUDE their employees are! Would NEVER want to deal with them again!
Flagstar Bank - mortgage payment process
I have a home mortgage got sold to Flagstar Bank. When I sent in extra money by check for "Principal Payment" only, they always use that principal payment money to pay for my regular monthly mortgage payment. (Even though I marked my check clearly with "Principal ONLY"; and I have automatic monthly payments set up online). Every time, I have to call them to fix the problem. and they cannot tell me why they always do the same thing to my mailed in checks which marked clearly "Principal Payment Only" .
If I failed to double check and call in on their mistakes(deliberately made mistakes), they would rip me off by charging more interest on my home loan. This bank is disrespectful and never follow customer's clear request/instruction. I am very disappointed by this bank's behavior.
I have to waste so much time on calling them all the time, because it takes long time (30min) to reach a real person to talk to. No wonder people are not fond of banks in America.
Flagstar Bank - unreasonable charges
I would like to complain about the lack of communication regarding transfers of my own money between my own accounts(checking and saving in the same bank). I don't see why I should be penalized for moving my own money between my accounts at will. It seems another gimmick for them to steal my hard earned money, and pay pennies for interest. I was an over the road truck driver, gone for weeks at a tie, and unable to even check my mail. I have lost plenty of money to this bank because they steal $10 per transaction for this, and I was not told about this fee at all, the only way I found out eventually was through a stack of fee notices I got in my mail box when I finally was able to get my mail after weeks on the 9 weeks on the road.
Flagstar Bank - bank refuses to sign a certified on time payment
This institution is the worst I have ever experienced. I got sold to them in 2002 and my problems began in 2003. However, I'm fast forwarding to Dec 2011.
In November of 2011 I received my escrow statement and it showed that it was short $495.90 and it gave me the option to either send in the entire amount (and my payments would remain lower) or to do nothing and began a new increase schedule beginning Jan 2012.
On Dec 6th, I sent a Western Union MO for t he $495.90, along with the enclosed return voucher to their PO Box. USPS states that because it is a PO Box they, by law and their USPS agreement, must sign or send back the mail. The money order arrives Dec 8th in Troy Michigan and just sits there, day after day. I check on Dec 16th with the USPS because I know that Flagstar has no ethical code of operation and are totally incompetent. I am notified that the pickup mail person from Flagstar refuses to sign, even though he is picking up tons of mail everyday from that PO Box. USPS states that if they do not pick up in 15 days it will be returned. It is past 15 days and it has not returned. It seems that they MAY have picked up and NO ONE at Flagstar can give me an answer as to where that money order is. Now, here is the strange part. I paid to for signature and return green card receipt. No one knows any thing at all. Not customer service, not the escrow dept. They are now telling me to re-send a new money order meanwhile I have to pay the increased amount, which I opted not to do, because if I send in the old amount I will be assessed a $500 late fee.
My frustration level is exhausted. All I can say is, my goal the early part of this year, is to get out. Management and upper management must be the dogs from hell to work for!
Flagstar Bank - big mistake
Receiving a mortgage from Flagstar feels like I made a deal with the devil! It is one of the biggest mistakes I have ever made. They are unwilling to work with you, place you on hold forever their customer service is the worst! Their loan officer misled me in many ways. They demanded that I use their appraiser in order to get the loan. Flagstar’s appraiser charged me $400 even though already had an appraiser that would charge me $300. The appraiser from Flagstar overvalued my home comparing my 2 bedroom townhome to 4 bedroom townhomes. Due to this inflated value submitted by the Flagstar appraiser my property is underwater by $40, 000 in one year!
Flagstar Bank - loss mitigation/loan odification
A year and a half ago, I applied for a loan modification from Flagstar Bank. (Two years prior, I had refinanced with them receiving favorable service, only to find out later that the bank officer who asited in this process was let go.) To continue, I was told that I had to be 3 months behind in payments, I was only two at the time, so "made" myself three so that I could qualify for the modification; had been sent paperwork and promptly completed it and faxed it in. I was also working full time at that point; teacher for 23 years. In June of 2010, I lost my teaching job due to budget cuts. Called Flagstar to apprise them of my new financial situation, I had to re-submit paperwork with new information, hardship letter, financial statement, etc. Faxed it in. Then I was really in a crisis, no money and without "making" myself behind, I was. Called them, sent in new package of paperwork; advised that I had to get a full time job, but they would see which, if any, program I could be fit into. Then I got a part time job, and several months another part time job. In he meantime, I had garage sales, selling all my teaching materials, furniture, supplies. I pawned jewelry, etc. to live. At one point I wanted to make two mortgage payments attempting to pay something and get the total months behind, now 7, and was told they would only accept 5 out 0f 7 payments. Couldn't do it. Long story short, I got foreclosure papers, notification from Flagstar's legal rep. law firm. I called one of those fly-by-night companies that were always contacting me by mail and email (word travels fast) and hired them for $1500.00 which was just under my regular mortgage payment amount so that they could help me 1) understand in layman's terms what was happening to me and my home; 2) be able to communicate to Flagstar and then to me; 3) assist in completing out any forms needed. To make matters worse, there were three changes in people dealing with my account and then the company sent me in the mail an announcement of their closing. It indeed did close, no longer able to phone, infact, no ability to contact them at all to find out where I was in this whole process. I did receive a card that they are under litigation, and that I am included in the group suit (?). At this point this is the least of my worries except of course for my $1500.00. Next to happen August of 2010 I was give a forbearance plan of paying my regular mortgage payment, Western Union Quick Collect on the first of each month. I notarized as directed and began the plan as instructed. The legal firm sent me a notice stating that the foreclosure was being rescinded. I called Flagstar to verify and they agreed. (I have followed their directions every time I was presented with a new set and re-sent in all forms, etc each time I was asked (total 6 times) although I'm not certain why so many times. January 2011 I was given a new forbearance plan, $798.00. I was thrilled, even though they told me on the phone that this was good for 5 months and then I would receive new paperwork with a new payment of $1, 598.35...$35.01 more than my regular (original) payment. I never received any paperwork advising me of the change; I called and informed them of this, thinking all the while that they should already be aware of their own processes and asked what to do. Was told to just continue to make the $798.00 amount and that I didn't have to send by Western Union and in fact that was only for the very first payment (January's) but could have been paid by check, etc. Not long after, I was called and told that I was finally under review for the modification. I asked then if this was god news. Was told that she couldn't tell me anything about the outcome, but that I was under review after such a long wait, and she felt this was a positive move forward.I have continued to do so. At the end of June, one of my parttime jobs ended due to gov't grand funding ending for the project for that school year; hopefully to be refunded and me picked up again in September. Through all this time, I had continued to apply for another teaching job. If you are aware of the TX Education crisis, ou know that it has been chaos; teachers layed off left and right. Because I was teaching for a Catholic private school, no unemployment. Had to go on food stamps, continued the second parttime job at $7.35 per hour. Just last week I got a teaching job for this academic year. I called Flagstar just a week ago last Wednesday to inform them. They told me to send or fax in my contract when ready as notification but no real use in terms of the modification. I get my first pay check on the last day of the month, September, since I started on the 24th of August and his last week will be added to that check. The woman said to send that in a copy of the stub when I get it. This will go to the modification analyst. Tis Thursday, the 25th at 8:30 a.a., I received a phone call on the way to work from Dasheeta (would not give her last name, nor transfer me to anyone else saying that she was assigned the call and she was the only Dasheeta n the Loss Mitigation Dept). She told me I was being foreclosed upon. I was shocked, she said that I could pay $181, 000 and this wojuld end, or I should short sale my huse. I told her about my job, that I had called, that I had to send in yet another app. package in June, what was going on. She said "What's going on is you're more than 30% something, something, something...which I didn't catch all of because I was crying so hard. Said to her that I had literally worked my _ _ _ off for the last year and a half to comply with all of their requirements..She interrupted me to say that "there is no reason for profanity, and please, lower your voice." I asked her to give me an approximate time line of this process so I could figure out what kind of time I had to sek help. She said she couldn't since she is "in Michigan, and not Texas and I don't know the TX Foreclosure laws. " I told her to transfer me to someone else who could tell me, she said no, and said the conversation was over and I would be geting papers in the mail sometime. (Sometime? and this concerns my home! that I have worked hard to keep in many adverse circumstances!) I called HUD, they told me to call FHA since Flagstar is an FHA lender. I gave ROSS the information he asked he gave me my "ticket number" told me he this would begin an investigation and that I should call them this Wednesday, the 31st. What do they do, what can they do, how closely are they aligned with FHA lenders, do they work for the homeowner in jeopardy of losing their home, what are my chances...I am a month away of improving my financial situation...where do I go and what do I do? Who cares?
Flagstar Bank - 2nd mortgage
I tried to submit a payment to Flagstar Bank for the balance of my 2nd mortgage through my credit union's bill pay. Flagstar rejected it saying the amount was too great and had to be submitted through certified funds or a wire transfer. I then tried to submit a wire transfer through my credit union for the payoff amount that Flagstar sent me plus extra interest. The wire transfer was rejected. My credit union resubmitted the wire transfer and it was rejected again with no explanation. My credit union called Flagstar and was told they needed to include the mortgage company name on the wire transfer. DUH! Flagstar Bank IS THE MORTGAGE company. As of today, I am still waiting for an explanation of why they keep rejecting my wire transfer. THIS BANK IS NOT TOO BIG TO FAIL AND SHOULD FAIL!
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