I was working with a lender when LSI/Flagstar contacted me and promised me a loan with a lock at 4.5%. After three months they continued to string me along telling me that none of their lenders would approve the loan based on my appraisal.
Now my house appraised for $150,000 more than I was borrowing so I was way on the up side. On a friday afternoon I received a letter saying I was disapproved, then the guy I was working with said that Flagstar agreed to fund the loan at 5.25% It was total ***.
Product or Service Mentioned: Flagstar Bank Mortgage.