Flagstar Bank forcde insurance on not just one but two of my proerties. They do not call the insurance companies and request to be mailed renewals or changes.
You the home owner must get them and on time or they send you a letter. Then you send them the information three or four times and then they dont tell you there are two insurance deparments at Flagstar. one handles General liability and the other flood and hazard. They also dont tell you during your loan that they require specific personal insurance policies after they issue you the loan.
Then in my case they said they only recieved part of the policy due to fax problems on there end and instead of calling me to refax, they force issued policies on my properties for some three times the going rate. Then sent me a letter that states my escrow account is now in the rear and i need to send them money.
I have refinanced one of my properties and i am in the works on the other. will never use Flagstar again and have filled complaints with MD state board of Mortgage Finance.
Product or Service Mentioned: Flagstar Bank Mortgage.