Flagstar Bank Loan Servicing, Payments, Escrow Account Complaints

Review and analysis of over 456 complaints against Flagstar Bank

Flagstar Bank consumers have reported over 456 official complaints related to Loan servicing, payments, escrow account. Out of the 456 consumer complaints against Flagstar Bank, 22% were disputed by the consumer (i.e. the consumer was not happy with how Flagstar Bank responded to their complaint) and 100% were processed in a timely manner. 4% of consumer complaints against Flagstar Bank resulted in the consumer receiving monetary compensation (e.g. money, cash reimbursement, etc.) and 2% resulted in non-monetary compensation.

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New Loan Servicing, Payments, Escrow Account Consumer Complaints


Flagstar Bank Mortgage loan servicing, payments, escrow account

March 29, 2017 - I represent a company by the name of -. in - Ca -. We just received an email from Flagstar Bank in - Michigan with the following message. Dear -, Flagstar Bank has conducted a Management Review of your status as an eligible Escrow Agent. Based upon our analysis, we have made a business decision to exclude your company from our eligible list. It is Flagstar 's policy not to discuss the basis for its decisions. Thank you Flagstar - Support Specialist-Funding - MI - All settlement agent approval docs and questions send to - Call funding support assistance at -,...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

February 27, 2017 - New mortgage in 2015, with fixed rate of -. Mortgage payment has gone up over $300.00 since the origination of the loan, becoming harder to make payments. We have decreased insurance to help lower payments but they keep raising payments....

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Flagstar Bank Mortgage loan servicing, payments, escrow account

January 24, 2017 - I would like to split my monthly payments into two payments per month fulfilling the total monthly amount. The Bank will not accept partial payments. The offer was to participate in a program whereby there is an automatic deduction from my bank account on a bimonthly basis. I do not want to participate in this program since there are 2-3 additional payments incurred throughout the year as a result of some months having five weeks. I would rather pay on my own and have the bank accept my partial payments throughout the year, meanwhile fulfilling my monthly obligations as I choose. My intention ...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

September 29, 2016 - i had to refinance my home loan that i had with flagstar due to poor servicing on their part. now they are refusing to return - dollars that my new lender overpaid to them in my settlement statement.flagstars payoff was for - and my new lender paid them -.this of course came out of my pocket.yesterday when i called them they told me that they were charging fees unknown to me thus i wasnt entitled to the overpayment.its my understanding that the payoff included all the fees associated with the loan to be paid off. finally theres the matter of - dollars in escrow money that they ar...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

September 9, 2016 - This has been an ongoing process, but, we have a mortgage with Flagstar that we fell behind on in -. After a modification nightmare, we finally had it modified and brought current in - -. I had made some payments that had bounced out of my checking account. Some of those payments were my fault, with not having my checking balanced correctly, and some were not, such as multiple payments on the same day being made. Anyway, on - -, -, we were due for -, -, with - being due by the end of the month. I made - 's payment on - 1. I was in contact with - - from Fl...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

July 29, 2016 - I filed bankruptcy in - to re establish my credit after having - where there were excessive hospital bills and I was laid off in - from - - and could not recover. My intentions were to reestablish my credit with hopes of gaining credit worthiness. My mortgage was reaffirmed in the - on - - and bankruptcy was discharged in - of - I just became aware that my mortgage company Flagstar Bank has not been reporting my monthly payments since - and has the mortgage listed in the Bankruptcy which has affected my credit score and worthiness immensely. I am now on a missi...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

June 1, 2016 - The mortgage company that we had filed a prior case about in - - due to not assisting us with a modification/refinance. Is now Inaccurately reporting on our mortgage to the - major credit agencies. We have submitted documentation showing we were not late from - - to YTD but have not received resolution and because of the inaccurate reporting we may not be able to get financing on a new home. I truly thought that after the multiple errors that we have experienced with Flagstar that we wouldnt be dealing with another issue with the same Lender. I will NEVER ever again do business ...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

May 24, 2016 - Flagstar Bank is my current mortgage servicing company and they are showing me as having made late payment during -/-/- and -/-/2016. I have received a letter from Flagstar Bank research department in which they state this was a mistake on there part. I would like Flagstar to resolve this issue ASAP and report my payment history to reflect as current and no late payments. Thank You. ...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

March 18, 2016 - Payments have been made twice a month, in advance, for over 5 years. The bank continually delays posting the payments and periodically assesses late charges incorrectly. Now they have actually returned payments. As of now, the interest charged on the account is far in excess of what is actually due. ...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

March 8, 2016 - The Value on my property has gain enough equity to qualify for - % to - % LTV to remove my PMI. I have proven this with Comps and by consulting with a local appraiser and I sent in a written request to my Bank Flagstar requesting the Removal of the PMI. My bank Flagstar Mortgage keeps giving me the Runaround in regards to the process in which they require me to take in order to remove PMI. I have been told different procedures by - different representatives, I have been told that they will send me a letter explaining what to do and I have not received anything, I have been told that I...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

March 3, 2016 - I went through the loan modification process with Flagstar bank and my modification was approved with my new mortgage amount. My agreement from Flagstar bank and signed by - - on - -, 2016 as a true and certified copy. Since my new agreement, I have been making my payments on-time and I still receive collection calls from the Flagstar - - at -, today I have receive a call from -. I have informed Flagstar 's employees - that I have a new agreement in place, have made my payments and request the calls to cease but they have failed to do so. I have repeated ask if they ...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

February 20, 2016 - On - -, 2015 Flagstar Bank initiated a process for us to prove we had homeowner 's insurance active or they would place forced insurance on our house. This information was provided in full on - occasions, both -/-/2015 and -/-/2015 which included insurance coverage and the contact information of both our insurance agents. ( The coverage had moved to another carrier during this process. ) The coverage was by - name brand insurance agents which are easily contacted via the numbers we provided. With no notice, only a notice of " shortage '' in our escrow account, did we discover t...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

February 18, 2016 - Memorial Day 2015, our home was flooded due to a declared national disaster. Since then, Flagstar Mortgage has received well over $170000.00 in insurance funds. I submitted documentation to pay the mitigation company and eventually had a check issued for $28000.00 to that company. Leaving +/- $140000.00. We have processed no other claims. We had a contract to sell the house. I called Flagstar to get a payoff requesting they take the insurance proceeds and apply that to the principal. They refused to do so. As of yesterday, the loan has been paid in full, and when I called today to find o...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

January 16, 2016 - I received a settlement in - based on harmful lending practices by Flagstar bank. The question I have is, this was a VA loan and the VA was never compensated for their part of the loan they backed, now I have a substantially reduced amount that the VA will lend me based on this. Is there a way to get the VA repaid? Also my credit report now states foreclosure redeemed, is there a way to have it removed all together? Thank you for your time ...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

January 8, 2016 - Follow up to previous issue. Today I tried to make 5 payments + late charges by phone. This is before the -/-/- deadline that was outlined in the servicer response to me and the CFPB drafted by - -. Despite 3 attempts to make this payment by phone, no agent would accept it. Further, each agent told me they could not see the letter I am referencing. ( This letter is the response attached to my previous complaint ). When I requested a supervisor, I was refused. I requested a call back, which the agent indicated they would send an email to their supervisor but could n't guarantee a c...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

January 6, 2016 - Do to health issues, loss of employment and a divorce I fell behind which sent me in to the foreclosure process. This started in -, I made every attempt to get a loan modification. I was assigned a Single Point if contact, - throughout the 3 yr process. I 've never spoken to - them. I 've spend over 40 hrs on hold, being transferred to n fro from Dept to Dept. I ended up having to file bankruptcy to get them to work with me. This entire bankruptcy cost me more than my arrears. I finally got my loan modification in - of -. Thank you. But because I was still in the bankruptcy proc...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

December 22, 2015 - I had previously filed a complaint against Flagstar Bank back in 2014. You should have that complaint on file. Since that time we have gotten no where with the bank. The home was vacated in 2014, we tried to do a cash for keys, a deed in lieu of foreclosure, and a short sale. No one from the bank would answer me, the realtor selling the home or our attorney. We had - offer and the bank would not respond. They just continued asking over and over for the same documents. Once they were sent they would wait a few months and then say they needed new ones or claim they were never relieved. These ...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

December 21, 2015 - Flagstar Bank has violated the terms of the settlement with CFPB. I have not been turned over to another servicer. I have an FHA mortgage with Flagstar, and tried to get a DEED IN LIEU and FHA moving expenses approved, but Flagstar ignored my request repeatedly. We winded up moving out of the home and into an apartment for one year. Because of the refusal to advise and/or work with us, I filed a Chapter - Bankruptcy. Home was discharged - of -. Flagstar Bank kept sending the normal letters of " HOW TO SAVE YOUR HOME FROM FORECLOSURE '' - with no mention of the discharge or anything. F...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

December 17, 2015 - Subject : My lender ( Flagstar Bank, MI ) refused to terminate my Private Mortgage Insurance ( PMI ) after I meet all conditions. I sent letters, e-mailed and called the Flagstar bank requesting for my PMI waiver as early as -, -. But my request has been rejected because I saw $160.00 of PMI was still charged on - -, -. I meet all conditions : - payments have been made since the origination date of the mortgage. No monthly payments were more than 30 days delinquent in the last 12 months. No monthly payments were more than 60 days delinquent in the last 24 months. There ...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

December 7, 2015 - To Whom It May Concern : I was put on a loan modification in -/-/2014. I paid - payments. The second payment was a partial payment. I spoke to Flagstar Bank representative - - in your - Florida Call Center. I told her it would be paid from my next paycheck. She said do n't worry about it. I 'm going to work on something else for you to lower your payment. I filled out all the required paperwork. When - - came, instead of receiving a lower mortgage payment, I received a payment schedule to start in - - raising my mortgage payment by $400.00. We have a unique situatio...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

November 19, 2015 - My servicer left a blank envelope at my door with only the words confidential and an - number to call. I called the - # the same day I received this ambiguous notice. The rep advised me I was due for -/-/-, -/-/-, and -/-/- on my mortgage. I offered to make one full payment now for the following business day, with the entire balance of the arrears to be paid at the end of -/-/-. The representative, and the supervisor that followed my conversation, both refused to take the payment because a demand letter had expired the day before. Instead, they are requiring the full ...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

October 22, 2015 - My mortgage was at - now my new mortgage is - starting - 2015. The reason for this is because my escrow was overdrawn for home insurance with Flagstar. Not sure for how long but, I came up with my own home insurance. I have recently returned a check to Flagstar in the amount of -. I am trying to bring down my payment back to - and pay for my own home insurance since my escrow keep being overdrawn. The way Flagstar explained to me is that out of the $550.00 paid monthly $70.00 will be put back into my escrow. I have attached information on my account with Flagstar since - ...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

October 13, 2015 - Flagstar Bank has sent - letters demanding that I provide a proof of policy for hazard insurance. I spoke with them after the first letter, and indicated that the insurance had been renewed and they spoke with the insurance company. I was told all is fine. Now, weeks later I receive a demand for insurance or to pay $6300.00. The insurance on the property has never lapsed, never been in danger of lapsing, and they have been provided all normal documentation by my insurance company, and they have spoken with them! ...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

September 26, 2015 - Insurance payment from my escrow account was not made in time to my insurance company thus leading to late fees and cancellation notices to homeowner. Monies were withdrawn from my escrow account TWICE ( -/-/- & -/-/- ) thus lowering the escrow account value below allowed limit allowed by Federal law. This appears to be an error since the money was placed back into the escrow account at a later time ( - ). The error does impact the calculated low value for the escrow account unless special provisions are taken. This new low value '' for the escrow account will or may cause damage...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

September 1, 2015 - I have a mortgage with Flagstar Bank, I have had this loan with them for three years now and I have never been late on a payment. I use the system of payment that they recommend to their consumers online, and in -/-/- their system had an error. I made my payment through their online system on -/-/2015 and the payment in their system showed me it went through. I had funds in my bank account there was no problem processing the payment on my end. But their system had an error and did n't process the payment correctly, or that is what I was told. Their system shows the payment as being ...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

August 8, 2015 - Flagstar bank did not pay my home owners insurance from escrow account for 2014. The only way I found that out, having to file a claim on house damage. Instead of assisting to get the damage fixed, they assigned me forced insurance, and I have been denied from their insurance company, while I would have had it taken care of with my original insurance company. Now, no one will answer e-mail or phone calls and my house has - of dollars in damage. ...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

July 28, 2015 - I have a VA Loan. The original loan included cost for Mortgage - Hazard Insurance. After the first year, the issuer of the mortgage insurance, cancelled the policy. Though the policy was cancelled, the monthly mortgage cost stayed the same. The loan originator insisted that I again get an insurer to cover the loan. Subsequently, I found out that VA Loans per my category, do not require mortgage insurances ''. The loan originator has sense foreclosed and sold my property, even though, I have continued to pay my monthly mortgage up until they stopped receiving them ; returning my checks to me w...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

July 22, 2015 - I requested an appraisal from Flagstar Bank, my mortgage company on my primary residence, in order to ( almost certainly ) eliminate the Private Mortgage Insurance of nearly $200.00 per month from our mortgage. They indicated in a letter dated - -, 2015 that this would cost $420.00 through their appraisal service-. I sent the request and a check for $420.00 back to Flagstar, which Flagstar cashed on - -, 2015. After no contact from them, or the appraiser for nearly 2 weeks, I called Flagstar only to be told that cost was now $670.00 They tried to say that perhaps I had a...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

July 14, 2015 - Flagstar Bank is reporting a 30 day late payment on my credit report that is not accurate. Currently, I am seeing 30 days past due as of - 2013 which can not be true. I have disputed this account several times and see that they are in violation of the Fair Credit Reporting Act by not reporting the account as in dispute which entitles me to $1000.00 per violation. ...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

July 8, 2015 - Early in -/-/-, I refinanced my mortgage with Flagstar Bank and agreed to a monthly payment of $1300.00 with a --year term. However, Flagstar Bank and its vendor - underestimated my city taxes by approximately $1100.00. The actual city tax bill is $1100.00 and Flagstar estimated them at a yearly rate of $16.00. Therefore, I recently received notice that my bill will go up nearly $200.00 to a new monthly payment of $1500.00 as of -/-/-. So far, I have contacted - - and - - about this problem, but they were not able to offer an agreed-upon solution. Throug...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

July 7, 2015 - My wife and I have an automated payment setup for our mortgage each month. The auto payment is scheduled to deliver the payment - days early each month and that is - days earlier than the due date, not the extended grace period. Apparently, after receiving our early payment, Flagstar realized that we were off by - because they had reassessed our escrow. However, notice of this reassessment was never received. On Sunday, - - at -, we received a phone call from Flagstar requesting a call back. We immediately returned the call and were treated with an aggressive and rude represe...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

June 25, 2015 - Became over 30 days past due on my mortgage loan. Wanted to make a payment online through the bank 's internet portal, which does not carry a fee - but was restricted from doing so due to the past due status. Called in to make the missed payment and was assessed a $15.00 fee for doing so. Blocking delinquent customers from free payment options and forcing a $15.00 fee on them for essentially the same service with an agent - with no other free electronic payment options - strikes me as the imposition of an additional late charge beyond what the contract allowed for. Additionally, the bank o...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

June 9, 2015 - After reinstating my loan with Flagstar Bank in the amount of $89000.00, which was obtained through the law offices of - -, hired by Flagstar Bank, stated that this would bring my loan current. This amount was paid with cashier 's check on - -, 2015. I made my next mortgage payment of $5300.00 for - ; however, on my - mortgage statement it shows additional fees of $1200.00. I called Flagstar and inquired about this and I was told that Flagstar does not have to disclose additional internal fees in the reinstatement fees. This is totally unethical for a lender. We as borr...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

June 1, 2015 - Flagstar Bank is charging me for late fees that I have not incurred. I have called the bank multiple times but they have not resolved the issue and now they are threatening me with reporting me to the Credit Bureaus. My credit score in the - 's because I have never defaulted on any loan. I have paid my Flagstar Mortgage payment on time before the - of each month since -/-/- without falf every single month in advance to this date. The problem seems to be that on -/-/- they charged my account $6200.00 for insurance '' this was an incorrect charge since I had secured - - ...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

May 29, 2015 - Two months ago, Flagstar ( dba - ) sent me a letter telling me that my second mortgage was due and payable, that it was a balloon payment, ( I was not aware that there was a balloon payment due ) when I got this loan they told me that it was interest only, but that I would be paying down the principal. In ten years I have paid the principal down -, they are now telling me that the loan balance is -, the original was -. I have talked to them countless times, they now tell me that I have until - -, 2015 to pay the balance or they will foreclose on my property. I am - years o...

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Flagstar Bank Mortgage loan servicing, payments, escrow account

April 10, 2015 - My mortgage company Flagstar has illegally withdrawn close to $10000.00 from my bank account in the last 4 months, has mismanaged by loan and lost sensitive paperwork pertaining to my account access, has refused to acknowledge legal, signed paperwork and refuses to fully refund me. Counting the legit mortgage payments and the illegal withdrawals Flagstar made from my bank account in the last - months, I am now missing nearly $18000.00 and have nothing left in my bank account. - since I bought my house 2 years ago, I 've tried to add my wife as an authorized user on the mortgage accou...

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