Flagstar BankReviews of flagstar.com

Never ever do business with this bank! We purchased a boat our 5th boat in our lifetime mind you. The dealership signed us up with Flagstar Bank. We checked on insurance before purchasing the boat and lined everything out like we always do before a big purchase. We were requested by Flagstar Bank to provide an insurance binder. We did comply and sent our insurance binder in, declaration in, asked the agency to send one in, everything. After repeated request from them saying we have not complied by providing insurance on the boat and multiple documents sent to them and from our insurance agency they somehow have decided to add their own insurance to my loan and adjust my monthly payment!! This should be against the law. We have provided everything they have asked for multiple times. We have communicated over and over only to get this notification in the mail. I assume they are connected with so called insurance agency?? The only excuse is incompetent management! I would not put your money in the hands of these people. I will never ever do so again. I have purchased 12 cars, 5 boats, multiple offroad vehicles, and have purchased multiple homes! I have never had this ever happen and I intend to find out how many others this has happened to. This is robbery and unfair practice. I have statements for the insurance monthly bill, binder of coverage, declaration, and my insurance agent as proof. I am seeing that this is their M.O. and it would not matter what you do or provide to them they will still try to take your hard-earned money. (Read the other reviews) I truly wish someone would investigate this banks process for committing such a horrendous acts. I feel so attacked by this. Shame on you Flagstar Bank! SHAME ON YOU! I should have known better and definitely should have read your reviews before making this mistake on a lender. You lost a customer that buys. Thank you to Ally who I use for most of my cars, Capital One for my Home and work truck, and Bank of the West for my other toys. I learned my lesson going outside my lender network. Check the reviews and you will see that this bank should not be doing business!

This company doesn't know what customer service is. And I am sorry I had to find out in time of need!!! The punishment, the humiliation, the greed and abuse I have taken from them in the last 4 months, is ABSURD! I know nobody will care about it, naturally one wish is that somebody from the company will read and give a call back.. But this is solely a place where we voice out our disappointment.. Thank you Covid for creating new "poor" population, and Thank you Banks for having taken advantage of the situation.. Thank you Flagstar, for being the best at humiliating and punish your clients.. Thank you!

This was my 2nd re-finace through Flagstar. My original mortgage was not with them, but eventually ended up there. Up until this point, everything had been easy. The 2nd re-finance required an appraisal, because it's "policy". I hate it when people say that. The LTV (loan-to-value) ration was very low for my re-finance (<50%) so there is no justification for it whatsoever. My divorce agreement gave me 90 days to pay. In the end it took 5 months. I was literally hours away from being sued by my ex. Almost all of this time was spent with the house appraisal, which I don't need. Their appraisal department is unreachable to customers. The CSR (Jessica) was also helpful but powerless. There is no escalation process that achieves anything. I had to find them an appraiser myself. Then then sent it back, I think, 4 times. The last time they wanted to change the word "kitchen" to "kitchenette", for example. This was easily the most stressful part of the divorce and I was utterly powerless to do anything about it. This was the only issue, everything else worked, more or less, as you'd hope. I wouldn't use them again.

The cash operation department is run by incompetency. I called Flagstar and confirmed that I could mail two separate certified checks (in the same envelope) to payoff my mortgage. So I did. A week-or-so later I received one of the checks in the mail with a notice saying the payoff was denied due to a shortage of payment. I called to inquire as to why, and where the second check was and I was told they only processed the one check and the other was unaccounted for. After multiple weeks of them investigating (how difficult is it to look and see whether they had the check or not is beyond me), they told me they lost the check (shocker). I had another check issued to replace it and mailed the payoff in again with a BIG note saying there are two checks included, please do not throw either away. I requested that the interest be backdated to the date they received the first payoff and whoever the invalid is in charge of decision-making there denied it on the basis of 'shortage of funds.' So I said, "Let me get this straight... you literally threw away one of my checks, which caused the payoff to be short, and proceed to accept responsibility for that mistake. Yet, refuse to pay back the interest I accrued due to your company's negligence?" And they simply said yes. Seriously, how absurd is that? Criminal, in my opinion.

This has to be the absolute most terrible company with the absolute worse customer service. This is only the second mortgage company that I've done business with. The first being Wells Fargo and the second being Caliber Home Loans and they both were GREAT. My saga started when I received a check in the mail saying that I had a surplus in my escrow. I knew that wasn't right so, I called them to be certain. They assured me that it was correct and that everything had been paid. I couple of weeks later I got another letter stating that I had a shortage and I now owe them the shortage, which drove my mortgage to an unreachable amount. I started trying to bring the Escrow shortage down, first by depositing and sending the check that they sent (in error) back to them to add to the shortage (that went well). I then send them my mortgage payment with additional escrow to be added to the shortage but the additional payment went as a regular payment. I clearly put it as "ADDITIONAL ESCROW". This all began at the first of the year and I'm still dealing with them without ANY progress. The Customer Service is horrible mess. Dealing with them make me fee like my name should be Spalding by the way I'm being bounced around by Flagstar's Customer Service. My advice to anyone is to RUN RUN RUN from this company if they are to be your mortgage company.

Very poor customer service. They charged my escrow account for flood insurance and did not fully refund the charge even after sharing the fully paid certificate of master condo insurance. Stay Away!

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.