United States - 48098-2639
Overdraft Lines Of Credit, Deposits And / Or Bounce Protection Payments
I recently tried to get a home loan with FLAGSTAR BANK to purchase a house. I had good credit, 20% down, full document loan. All was going well the first 10 days but then once my option period expired on my contract, all *** broke loose. To make a long story short, the customer service was terrible, turnarounds on just about everything was bad with very little communication. They said I was approved and all was well but it wasn't. I ended up going with another bank who did a great job. WARNING TO ALL READING THIS; FLAGSTAR BANK TALKS A MEAN GAME BUT DOES NOT COME THROUGH!!! STAY AWAY FROM FLAGSTAR BANK!!!
My niece & her husband were never notified that their mortgage payment had increased ($300 per month) until...
I wouldn't recommend for anyone to use Flagstar's Escrow to pay your homeowners insurance. They are well known for allowing homeowners insurance to lapse and then put in place the forced placed insurance. They did it to us twice and the second time...we didn't find out that there was a problem with our homeowners insurance until we had a house fire and this is how we had to find out it. The unfortunate thing is the Insurance Company, Foremost (owned by Farmers) that we were using was also dirty and we never received notification of any of this...so we are now having to file lawsuits against the chimney sweeps, Foremost and Flagstar...probably going to have to add Flagstar's Forced Place Insurance, Proctor Liability, to that list. We have been living in our house now for 7 months with a huge hole in our roof. Words of warning...really watch these guys!
I was suppose to close this week on a construction loan, and was denied. Over Labor Day weekend, Flagstar said they changed their guidelines. Three days from closing. I am thinking about taking legal action. They cost me about 8000.00 in various fees. The senior loan officer doesn't even have the balls to call me, I found out through someone else at Flagstar that they changed their guidelines. This is just ###. Does anyone know if I have a lawsuit here? I'm out 8000 in fees.
I have been a customer of Flagstar Bank for a few months now. I travel in the Atlanta area and have visited many branches throughout the area and I am shocked at the lack of professionalism that I have experienced. For one thing, the dress is ridiculous. Super tight clothes, cleavage exposure and bibles on desks are just some of the things that I found to be very unprofessional. Their Exceptional Service motto is a joke. Don't they realize that offering me snacks and water is NOT exceptional service? Exceptional service is having knowledgeable employees who know how to help me with my ENTIRE financial picture instead of being robots who never speak to me or engage me whatsoever. They don't stand up when they greet you or when you are finished with your transaction. Many of their customer service reps can't even answer basic financial questions. One of their branch managers even has a tattoo showing with her cleavage exposure. Who are they hiring for their management positions?
I anticipate their demise to be just like Indy Macs' unless they start training their employees and their managers or how to behave if they want to gain customers or stay in the market place.
The service is rude and incompetent. They will hold your check until your payment is late, and then charge you a late fee.
They even changed their mailing address without notification, so my check came back, and of course was then late after I had to call them to get the new address, and mail it again...
Calling them is so frustrating... no one cares.
They tell you they will correct your account... and then do nothing.
I am now looking for a new lender, and can't wait to be rid of them.
Flagstar is the WORST bank I have ever had the misfortune to be involved with.
I purchased a home that was way over priced (for sale by owner) and used the lending company, Freedom...
We have had a home mortgage with Flagstar for about a year now and pay our monthly payment through on-line bill pay with another bank. I paid the February bill on 1/20 and then I paid the March bill on 2/16. On 2/20 Flagstar called and asked us if we were planning on paying our February bill since they did not receive it. I explained to them that I did pay the bill and I would check with my bank to find out what happened. In the mean time we received a statement on 2/21 for $43.77 in late fees. My bank got back to me on 2/22 and told me the check that they issued for my payment was never cashed. They put a stop payment on the check and said I should re-issue a payment to Flagstar. I called Flagstar and informed them of this and asked if the late fees could be waived, since I did pay the bill and I have never had a late payment before. They told me that there was no way they could do this since it was not their fault that they did not get my payment. I then called my bank and spoke with the on-line bill pay person. She said that she could not understand why Flagstar was being so unreasonable and she initiated a conference call with a Flagstar representative and myself. She explained the details to the Flagstar representative and asked if the late fees could be waived. Their response was the same as to me---No Way!!! She then asked if we could speak to a manager but we were told that there were no managers to speak to. There was however, a manager where we could send a letter in writing to and dispute the fees. Apparently this manager is too busy to speak with customers on the phone. I guess with the service that we received, if they let everyone talk to the manager he would probably be on the phone 24/7. The very next day we received a letter in the mail stating that if they did not receive our February payment by the end of February it would mean that we have failed to honor our mortgage obligation and that the payment must be received by then to avoid default. 28 days in February!!!! and they are threatening default. Oh, the last line of the letter says we would truly like to hear from you and are here to work with you, So let's work together. What a bunch of baloney!!! Please don't make the same mistake we did. Avoid/Run away from/ Flee Flagstar Bank.