Provo, Utah
2 comments

I recently jumped through many hoops on a loan, paid for an extremely high ($575) appraisal and was waiting for the loan to close. The appraisal supported the value of the home but Flag Star didn't like the appraisal and backed out of the loan at the last minute, leaving me out $575.

and a lot of wasted time. I would advise anyone against using them. Evergreen Mortgage in Eugene, Oregon was the broker and I wouldn't brag on them either.

The brokers should be able to vouch for the lenders that they use. If Flag Star were reputable they would have accepted the independent appraisal, instead they stiffed the borrower with no remorse in doint so.

Product or Service Mentioned: Flagstar Bank Mortgage.

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Anonymous
#281179

They did the exact same thing to me a few years back. They knew that rejecting my appraisal would force me to lose my locked rate and take the new rate that was almost a full percent higher.

Funny thing was the second appraisal that they accepted was higher than the first. Both values exceeded loan request.

Anonymous
#237306

:(

VERY disappointed with Flagstar Bank. They put me through hours of waiting on line and then transferring me to another dept., then get disconnected!!!

I went to another bank and am VERY HAPPY with they way I was taken care of. BEWARE OF FLAGSTAR BANK!!!!!

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