Flagstar Bank

The Worst Experiences

Flagstar Bank was responsible for the worst real estate experience in my 66 years on this planet.

My buyers used Flagstar, much to their chagrin, and we were scheduled to close on December 23, 2016.

We had to extend the contract to Dec 29th because “underwriting kept kicking it back with more conditions to be met”.

Dec 29th passed with no update and we had to extend the contract again to January 6th.

At the end of the day on the 6th we had to extend, for the final time, to January 9th.

At this point, the mortgage broker let slip that the key personnel in underwriting for Flagstar had been on vacation for the holidays.

Bottom line was that absolutely NO ONE in the bank did ANYTHING for three weeks on this loan.

We closed on the 9th without final funding (in escrow) and the funding finally came through on the 10th.

This is the shoddiest banking institution I have ever encountered.

The name of the person at Flagstar who, I believe, dropped the ball repeatedly was the closer Marji Afamasaga.

Is Flagstar Bank a scam?
Flagstar Bank is a scam and a bad service provider as per the report filed on dirtyscam.com. They are not aggressive towards their customer satisfaction and complaint grievance.
Is Flagstar Bank legit?
First Flagstar Bank is not a legit business owner or provider. You must take necessary precautions/measures before buying or using their services.
How many reviews are submitted by Flagstar Bank’s consumers?
There is/are 5 review(s) posted about Flagstar Bank and it indicates that the severity of the scam is High.
Where is Flagstar Bank located?
Flagstar Bank is located at 7535 E Hampden Ave #512, Denver, CO 80231, USA. You can contact Flagstar Bank by dialing (303) 695-1950 or visit their website flagstar.com before filing a lawsuit. We are no way affiliated with better business bureau or yelp reviews platform.
How much monetary loss is incurred by Flagstar Bank’s customers?
According to the report(s), US $2147 was the total loss incurred by Flagstar Bank’s customers.

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5 Reviews on Flagstar Bank

  1. I guess they know they work for the worst bank in the nation.

    Had to move to Flagstar when Wells Fargo, another bad bank, sold our local branch in Houghton, MI to them. Flagstar is even worse. It took us four months to transition. Things still don’t work on the business checking side of things. Payments to our Capital One card don’t get posted.

    Glitches in the system have persisted for months. The people on the phone don’t care at Flagstar. I guess they know they work for the worst bank in the nation.

  2. They're customer service is HORRIBLE over the phone as I spoke to 4 different people!!!

    I had an account 4 YEARS AGO! I went negative 4$ got NO LETTER, NO CALL, NOTHING letting me know I owed them. Than I find out today I owe 260$!?!?!?! ABSOLUTELY REDICULOUS bank! They’re customer service is HORRIBLE over the phone as I spoke to 4 different people!!!

  3. The money can't even be used for its intended purpose of property tax.

    They deserve zero stars. They are a bunch of crooks and I told them so over the phone. My monthly mortgage payment went from $561 to $821. They want to collect money for property taxes. I am a 100% disabled vet and this house has been exempt since 2016.

    My loan was sold to them from the previous company Cenlar. Maybe they didn’t get the documents from them? But when I saw my increase on the 1st of this month I immediately contacted them to try and resolve it. I sent in the paperwork to them showing my exemption. They refuse to update my payment this month and still want to collect money they know they are not entitled to collect. Why put disabled vets in financial hardship? They claim they cannot update it without giving me notice.

    But I had no notice before this month. I check my mail. A letter come in the mail this month telling me of the increase for this month. They said they can’t adjust my mortgage without 30-45 days notice. Which they didn’t give me for this month or this wouldn’t have happened. Also you can’t lower a bill to its correct amount without notice cause that’ll put me in financial hardship doesn’t make sense.

    This whole thing seems like an attempt at fraud. They want to knowingly collect money they know I do not owe. The money can’t even be used for its intended purpose of property tax.

  4. I'll be taking my business elsewhere.

    I’m a current Flagstar Mortgage holder, and I have absolutely no complaints about that. I recently tried to do a Refi, and wanted to do it with Flagstar but the Lending Manager Sanford (Sandy) Mallon was awful, all of his correspondence was vague, his rates were nearly double other banks, could not provide an explanation as to why his rates were so much higher, never fully answered my questions. HE WAS HORRIBLE!! Really turned me off to Flagstar all together. I’ll be taking my business elsewhere.

  5. Horrible customer service.

    Horrible customer service. I had my mortgage sold to them, I DID NOT choose them. During the switch over, I sent my mortgage check to my previous mortgage company (in plenty of time) but they didn’t cash it. Flagstar called me everyday for a week, asking about the check.

    I told them, I sent it to my previous mortgage company, what should I do? They said I needed to rewrite them a check. The NEXT DAY, they cashed the check I had sent to my previous company, AND cashed another check that I made out to them.

    I asked if they would reimburse my over withdraw fee, since they took 2 mortgage checks, back to back, and what do you think they said. NOPE. Great service guys, you literally cashed back to back mortgage checks, and think there is nothing wrong with that during a mortgage change over. I am seeing how I can get my mortgage changed to another company cause 2 weeks in and I’m DONE!!!!

Reported Loss :2147 $
Severity of Scam :High
Reported by : Anonymous
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