Flagstar BankReviews of flagstar.com

I've been banking with flagstar for years. I like the local branch. I've always received good service and help. Their bank acct interest rates are near zero but I don't care since I have online banking and can transfer funds to banks that pay better rates. A year or so ago they were merged with community bank in Hicksville NY. The online banking experience went downhill from there. Last year I took them up on their online CD offer which was one of the highest rates around. The day it matured I went online to either renew or close the account. I found out I cannot do that. The cd converts to a post maturity account that I could not close out online. I called flagstar and the response was "you have to mail us a letter to close the account". So I ask what is the status of it now. Response - it is post maturity. Is it earning interest? yes but at our lowest rate (which he couldn't tell me because rates are different depending on where you live - but I think is it something like their savings accounts at around 0.04%)

I can not stress enough that this lender has been three years of a pure headache. Now that my three year lock in is up, I'm removing everything and going somewhere else. They have never once read what I have sent and answered the real issue. All I'm trying to do is pay on my principle balance. I'm aware I can only do this for 8 days our of the month (that alone is pure nonsense that I can not pay my bill) but when trying to do it exactly as they told me was allowed, it never works. Honestly run, just turn and run and get a better bank because this is not the move.

This is an incredibly shady lender. They were wired the full loan balance on 5/4/2025. Coincidentally, they decided to transfer the loan to a subsidiary (Mr.Cooper) the same day. I started receiving bills from Mr.Cooper that the payment was not received and they had no proof of the wire transfer. They added tons of confusion by transferring the loan even though it was paid in full. Getting them to correct the problem has proved to be very difficult. Not to mention they are charging interest on a loan the was paid in full. They also want to charge me fees twice. Once to Flagstar and again to Mr Cooper… I would not get involved with flagstar or Mr.cooper

Warning: Avoid Flagstar Bank and Mr. Cooper for loans if you value accuracy and professionalism. I had a HELOC with Flagstar Bank, which they sold to Mr. Cooper. Flagstar promised a 'seamless and painless' transfer, but they failed to ensure the loan details were correct before handing it off. The principal amount, interest rate, and payment amounts were all wrong. I spent over an hour on the phone with Mr. Cooper’s customer service trying to fix this mess, only to encounter unprofessional and unhelpful staff. Neither company seems to care about accurate accounting or customer satisfaction. Based on this frustrating experience, I strongly recommend steering clear of both Flagstar Bank and Mr. Cooper.

I invested substantial funds in a certificate of deposit thru Charles Schwab with Flagstaff Bank and was very disappointed to hear that they DID NOT pay as scheduled on the maturity date. I plan on working with Charles Schwab to file a claim with the FDIC insurance to reimburse my funds if they do not pay this week.

They brought my loan and then used the money that I had in my Escrow account and brought another insurance policy from the same company I had insurance with already, in which rolled my Escrow into a negative. They could've just called and made sure that loan number had a active policy. Then they sold my loan to Mr. Cooper. They completely messed up my rhythm as far as making my payments goes and I am still playing catch up. They are the worst. They buy your loan, then screw you and then they sell your loan.

WARNING WARNING!! flagstar bank they can not give me a copy of the insurance cancellation letter and a year later they notify me and fine me $7,500 and immediately sell my mortgage to Mr Cooper. They can not prove a gap one year prior.

My loan was transferred to them. Were a very difficult company to work with for the period of time they serviced loan(8 yrs). Preditory practices on multiple occassions, literally stole a few hundred & was never able to resolve. They've been sued for the same practices in the past as well. Guess some things don't change! Theives