Flagstar Bank Reviews 

I had to go on a forebearance program due to COVID hardship; when I was able to pay my mortgage again, I tried to get out of forebearance by filling out a loss mitigation form, and twice they asked me to resubmit forms. When I submitted a form one day late -- and submitted the positive covid test for my husband which is why it was a day late -- they just closed the case without even informing me. I had to call and speak to them, and they refused to budge on reopening it. I am now submitting the form and accompanying documents. a FOURTH time, and it is exhausting and demoralizing. What a terrible experience. And I don't even know if they will grant me permission to pay the 6 months that I owe in installments, it's all up to them to decide. Terrible. Don't trust Flagstar.

My mortgage refi loan was "sold off" to this company (like nearly every loan nowadays). When that happened, they never received our HO Insurance info, thus never paid our home insurance bill. 2 months later they sent me an automated letter stating that my insurance was cancelled, and because I don't have insurance, they will purchase it on my behalf, but at a much higher rate. Really?!

Of course I called, and after going through the normal call transfer and hold process, someone finally said they saw what happened. They would mail out a new check to the insurance company. In the meantime, my insurance policy is cancelled and my home is at risk. 3 weeks later, still no renewed policy. I call again and escalate to a manager. He said they sent the check to the wrong address -- even after my agent and I provided them the right address previously. So they agree to "overnight a check" to my insurance. 10 days later, still no check received. I called my Insurer and offered to pay directly, but apparently they won't allow direct payment after 60 days... what? So I'm forced to contact Flagstar a third time, and raise cane yet again. After the customary hold, transfer, and accidental hang-up, I call back and finally get through to the manager who previously helped me. No surprise, he didn't recall the incident, so I had to re-explain and escalate again.

I ask why they can't just do an ACH or Wire transfer -- apparently they don't have that capability, and can only "mail checks". Wow, way to keep up with the times. I mean ACH has only been around for, what, 25 years? He did follow-up with my Insurer, but 3 days later, still no policy renewal. He also cannot provide his email address, per "corporate policy." Really? And who will pay for my home if it catches on fire?

What a horrible company and experience. Of course, I'm stuck with this incompetent mortgage company that I never asked for.

This "selling off loans" needs to be regulated by the Feds, IMO, as this is not the first time this has happened. These companies conveniently don't transfer all your escrow data, then blame you when bills don't get paid.

I have my home mortgage thru ARC and Flagstar manages the loan. Since October there have been significant issues between FS and my bank. A customer service person finally was able to see what the possible problem could be. Together we contacted my bank. The identified problem was FINALLY resolved. With two payments on board and a third scheduled on the 3rd. Obviously there was going to be big overpayment. The FS agent stated she was going to stop one of the payments. It was explained i had a pending payment for 4 Feb, and on the 1st had scheduled an online payment on 10/31. She was going to cancel the payment she took so an over payment would not occur. GUESS WHAT she did not cancel the payment which resulted in two payments hitting my acount on the 2nd resulting in a 631.34 overdraft and other transactions coming in. Because it was in pending status, the refused to cancel the payment. I had15 auto withdrawals schedule to come out of account on the 4th that could not be be stopped. My bank ask them and the best FS could do was stay fill out a payment reinbursement form, and PROOF my account was over drawn. 1. the proof of the overpayment was in front of their eyes. 2.It was still in pending status so could have been cancelled. 3. in order to try to recover OD charges on the other payments scheduled to come out of my bank account I would have to apply on a seperate form for each individual overdraft.. I was way more damaged by Flagstar than my bank. I cannot wait to refi my house. I don't care if i pay more interest I want out of that bat s*** crazy company. I dont want them tending any of my financial matters at all.

flagstar has been awesome. we use them for our credit card and mortgage. love that i can call customer service even on weekends and they can assist with questions or requests. we even pay bills through them. one stop shop.

I just recently had the worst customer experiences at flagstar. I'm still in shock. I was in the process of buying a home, the lender had been mainly only communicating with me via email and very short at that. I paid for the appraisal and heard nothing back for a little over a week. Then I got a text from the lender saying it appraised for 25k less than the listing price. That's all I got. Not a call saying the loan is stopped, etc. I then found out from my realtor and the seller's agent that the appraiser tried to schedule a SAME DAY appt. and was already on his way to the property when he inquired about how to schedule the appt. Somehow he got into an altercation with the seller's agent and the police were called. The home had just appraised 2 months prior for the asking price but things didn't work out with the the person's loan who was about to buy it before me, which is why it was back on the market. The seller's agent reported the appraiser right away when things happened for fear of him underappraising the home. The loan officer told my realtor that he was sure another appraisal could be done due to the situation. But then a few days later he turned around and told her it was nothing that could be done...mind you, he never contacted me until I sent an email expressing my frustration. He will not even try to see if I can get a refund. I contacted the manager, twice now, still haven't heard anything. I can't believe they think this is ethical and that they won't even give me at least half of the $525 back! Based on the simple fact that there was an altercation, they should have ordered another appraiser to go out to the home with a properly scheduled appt. so that there's no room for bias, pettiness, etc. Please stay away from the flagstar in Troy, Michigan. I'm not sure if all of them operate this way and are this unprofessional. This is unacceptable.