In September 2014, the Consumer Financial Prortection Bureau fined Flagstar 10 Million Dollars. Flagstar will also have to pay $27.5 Million to Loan Modification Victims.
Flagstar was cited for problems such as 25 minute hold times, 50% call abandonment (where Flagstar either hung up on the borrower, the borrower got lost in a maze of voice prompts, or the borrower gave up waiting to talk to a human being. A Florida Law firm, Shuster & Saben, LLC will represent consumers who submitted loss mitigation packages to Flagstar after January 1, 2014, who did not receive an acknowledgement of their loss mitigation package or who were not told if there package was complete.
The firm takes theses cases on a pure contingency fee basis. For more information about suing Flagstar check out http://floridaforeclosuredefense.blogspot.com/2014/10/why-you-cant-get-loan-modification-from.html
Product or Service Mentioned: Flagstar Bank Loan Modification.