The complaint has been investigated and
resolved to the customer's satisfaction
Flagstar Bankbad all around

I was propositioned in a Walmart to open a checking account. The clerk was flirting with me while the other male teller ogled me.
Anyway, I ended up opening a checking account. They had a great promotion. I mentioned that I was buying a house. I was referred for a loan and was also encouraged to open a CD. It was only after everything turned into a disaster that I learned the tellers get a commission for the amount of business that is done. What a disaster!
The branch is closing so i can't do my business there anymore.
I was approved for the loan buthe underwriter dragged her feet and money was not appropriately transferred on the closing date as the mortgage lender told me - - - so we had to have a second closing to resign papers.
Finally, the CD has grace periods where you can withdraw with no penalty but everyone keeps giving me a date that is diffeerent so I don't know when i can officially close out.


  • Valerie Apr 25, 2008

    I just recently got a home loan with Flagstar and my ex boyfriends name ended up on the title to my house and he keeps getting letters at my address from my loan company. I have to get his name off my house since I am the only one making the payments so I should be the only one on all the papers. I think customer service is everything so take care of the ones that pay your salary. I hope no one has to go through this and having to straighten out a mess like mine has turned out to be on my first home.

    0 Votes
  • Valerie May 02, 2008

    Flagstar is the investor purchasing my clients loan through Both companies are horrible. Won't return calls, promise close dates that they can't meet (several times). No consumer should have to go through this or risk as much money as my client has because of an incompetent lender. keeps trying to blame Flagstar as the reason we have not closed (repeatedly), but I really think they are as much to blame for this terrible situation.

    There are plenty of good lending companies out there that have your best interest in mind - these two are definitely not one of them!

    0 Votes
  • Valerie May 08, 2008

    I am a first time home buyer, I initially have my mortgage pre-approved at Flagstar bank. I called their " Senior manager" a few times to check mortgage rates and different questions about closing costs. I never get a straight answer. They told me one thing, and turned around and did something else.

    So, after our home inspection, we are getting ready to write up an estimate, I called again and ask for their rate. I was told, "Flagstar Bank is aggressively working to get you the best rate." I was quoted a rate of 5.875 over the phone. After I received my estimate, it said 5.99% and they have bought a point WITHOUT MY KNOWLEDGE to the closing cost.

    Really, THEY DID NOT TRY TO HELP ME. THEIR RATE WAS 6.250 ALL ALONG. The reason I got 5.99 is because they applied $1495 out of what the seller agreed to contribute to my closing costs and bought down a point for me. I WAS NOT AWARE OF THIS AT ALL.

    When I called their senior manager to ask him what the deal was, he told me that I am wasting his time and his assistant's time. What a ###. I promptly cancelled my application with them and will NEVER recommend anyone to Flagstar bank again.

    0 Votes
  • Valerie Jun 09, 2008

    Flagstar froze my eq line claiming my fico score went down I checked my score it had gone up!

    They said prove it, I did 6 months now and still the run around. They said send it again.

    I did they now say we will look into it like they had no idea we had talked before 10 times It not an issue of loan to value the line is for $125, 000 on a house worth $200, 000 with only $67, 000 out on the line with a perfect payment history. Man they like to play games with phone tag they don't call back.

    0 Votes
  • He
    Herman Jul 02, 2008
    This comment was posted by
    a verified customer
    Verified customer

    Worsg Customer Service EVER!!!
    I called to open a new Money Market account at Flagstar Bank.

    For some unknown reason, my application just could'nt get past the first stage (personal information). Then the site asks me to call for assistance, which I did. But there, they tell me there is nothing they can do, and that they can't even know why my application was turned. But I told the lady that I haven't even entered any financial information, just my personal info and home can I be turned down just based on these elements??? They had no answer for me. Just for your information, I have perfect credit score and all I wanted to was save even more money at their bank. Lousy customer service! They just lost a customer. They suck!

    1 Votes
  • Valerie Sep 03, 2008

    I'm a RE agent. Buyer put in for a loan to buy a home (FHA). Property address in Aledo, TX. Loan agent-Darrell Smith, [protected]. Darrell said no problem getting loan approved. Their FHA underwriter had it for over 3 WEEKS & then denied it!! Buyer in hotel & seller screwed.

    Worst service I've ever had in my RE career & I will recommend all my clients not to use the screwball company. I will advise my clients never to accept a pre-quell letter from Flagstar, unless disciplinary action is taken against the underwriter and/or loan officer. If they strive to provide the best customer service in the industry they can only go up because they are the bottom ### of the barrel now in my client's books.

    0 Votes
  • Ni
    Nick09 Apr 22, 2009

    I have a Flagstar home loan and was behind one payment. I asked them to help me move the payment to end of the loan. I was denied this request. After 7 months of sending and making calls to Flagstar for help; I was given "foreclosure" status. I sent in my paperwork that Flagstar requested as a "hardship letter". I have had circumstances beyond my control and fell behind. My home when purchased was worth $195, 000.00 to day the value is $90, 000.00. I have asked for a "loan modification". They sent the paper work back (after 5 months) with my modification (also a Fanny May loan). It states that I owe back interest and late payments; they lowered my monthly payment by $120.00 and raised the amount I owe on the home. My home loan is now at $210, 000.00; the house is only worth $90, 000.00. You tell me how this is a loan modification - and where is the help from the government. I cannot refinance/sell home as it will not appraise for that amount.

    FLAGSTART BANK is the WORST mortgage company out there. Their "senior manager" she does not care or know what is going on.


    1 Votes
  • Js
    jsmith01 Sep 01, 2009

    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. Is that how people are supposed to conduct business now?

    0 Votes
  • Fl
    Florida home buyer Sep 11, 2009

    I placed a bid on a Fannie Mae owned, due to foreclosure, home. I was told by the seller's agent that I was required to use a Fannie Mae backed bank. Flagstar Bank was suggested. The entire loan process has been a nightmare. Flagstar comes up with a reason to extend my closing the day or so before each closing date. They make sure they let you know very close to or the day before the closing date to correct a "new issue." This way they are assure they will get an extension. I have had my closing postponed 5 times! I startede this process in mid June. It is now September 10th and I have still not closed on the home. Per their usual Flagstar has noted a new problem on this Friday afternoon. When I finally got my loan office to pick up the phone, I asked if the closing would take place on W?ednesday as scheduled. Response, "Oh, I don't know." Can you believe one of my extensions was due to the Underwriter not being able to read my Agreement of Sale. Almost 2 months after the document was submitted to them! Another problem with Flagstar Bank; refusing to answer their phones. Stay away from Flagstar Bank .

    0 Votes
  • Tr
    TresG43 Sep 29, 2009

    Flagstar Bank forcde insurance on not just one but two of my proerties. They do not call the insurance companies and request to be mailed renewals or changes. You the home owner
    must get them and on time or they send you a letter. Then you send them the information three or four times and then they dont tell you there are two insurance deparments at Flagstar. one handles General liability and the other flood and hazard. They also dont tell you during your loan that they require specific personal insurance policies after they issue you the loan. Then in my case they said they only recieved part of the policy due to fax problems on there end and instead of calling me to refax, they force issued policies on my properties for some three times the going rate. Then sent me a letter that states my escrow account is now in the rear and i need to send them money. I have refinanced one of my properties and i am in the works on the other. will never use Flagstar again and have filled complaints with MD state board of Mortgage Finance.

    0 Votes
  • Tl
    TLQ Oct 02, 2009

    I was thinking about applying to Flagstar in Troy, MI, for the collections dept position. Is it easy to get hired in.

    0 Votes
  • Mi
    Mike Japkowski Jan 12, 2010

    Totally agree. I have Flagstar now and never been late with a payment. Not only did they lose the title to my manufactured home during the first loan process which was a delay on my streamline refinance. My streamline refinance was delayed so many times that the title work expired once. Long story short after several delays and 10 months later, I lost a percentage point and never closed. They are terrible, beware. I am still trying to get out!

    0 Votes
  • Li
    Lilo99 Jan 25, 2010

    Flagstar bank is the worst!!! I have been trying to do a loan modification for over a year now.. their costumer service is always rude and every time I requested to speak with a manager no one answered I even left voice messages and never recieved a call back from them.. I agree with all of you Worse Customer Service ever!!!

    1 Votes
  • Fi
    firstohiowasthebank Jan 27, 2010

    We have Flagstar too. They are the nastiest people you can imagine. They pretend that they didn't get your papers. They pretend they didn't receive payments. They pretend they are doing whatever they are supposed to be doing- but they don't.
    You can send payments two weeks ahead of time and still be charged for late fees!!!

    0 Votes
  • Ed
    edcojo Nov 24, 2010
    This comment was posted by
    a verified customer
    Verified customer

    I applied for a refi loan thru the new federal program to reduce my monthly payment. It's been almost 4 months since I started the process. I was told by the loan offficer that he would only use a portion of my income to qualify. Lo and behold, I received a denial letter about a month later saying I did not qualify based on my income. I contacted them and asked why all my income was not considered in the first place. Then, I faxed over proof of all of my income, which was more than suffcient. Another month passed and I received an email indicating conditional loan approval. More time passed nd I called to find out what happened, only to discover that they had done nothing more. They said that they needed more clarification of income verification which I had already sent them previously. I faxed over the info once again and heard nothing further. On Nov 22, I called again since I had no response and they said that they needed the same income information I had faxed them previously. I was irate, to say the least and told the processor to just cancel the loan as I was fed up sending the same documents over and over! I did not hear from her again as I suspect that they had no intention of funding this loan from the beginning and were just stalling by asking for more and more documentation even though I have excellent credit, no bills, (other than my house note) and more than sufficient income. This is a travesty!

    0 Votes
  • St
    stevie3 Oct 30, 2012

    That sounds about right, Flagstar is notorious for stalling tactics, you'd be better offf going elsewhere.

    0 Votes

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