Low S Obi

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#4926621 
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Flagstar misplace $420,000 and won't reimburse my expenses in a timely manner.

My home burned down and I had to give my entire insurance check to Flagstar to rebuild. They lost the money by placing it in the wrong account and now will not pay me for expenses totaling $17,500 that I paid out of pocket. I believe they are making it as hard as they can so they can stall and make interest on my nearly half a million dollars. They should be sued by a group of people who they have done this to.
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Cons:
  • Scammer make everything difficult to earn on large sums of money

Preferred solution: Refunded for my expenses related to my rebuild.

User's recommendation: Stay away from this company.

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Helpful
3 comments
#2372430

Thank you for taking the time to share your experience with us. We value your feedback and hope you'll give us the opportunity to address your concerns.

If you are willing, please direct message us on one of our managed social media platform profiles (links below) so that we can collect your contact information and further details to better assist you. Facebook: facebook.com/flagstarbank or Twitter: twitter.com/flagstar

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#2372610
@FlagstarBank

There are no links below. Maybe I should spend some more time on this after having spent months and hours already. What a joke.

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#2373583
@Low S Obi

We apologize for any confusion, Low. The links we had posted appear to be removed but we wanted to attempt to post again: Facebook - facebook.com/flagstarbank or Twitter - twitter.com/flagstar

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Stephen K Wvf

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#4870790 
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Terrible mortgage servicing

1.0
My mortgage was transferred/sold to Flagstar Bank and I have not been impressed at all. They wanted to CHARGE ME nearly $800 to have them NOT pay my home insurance through the escrow. Why would I pay them not to provide a service? If I've paid for my own insurance and have provided them proof of insurance, then they should lower my monthly payment to reflect the fact that I don't need them to hold my insurance payment in escrow. They certainly shouldn't CHARGE ME to have them stop taking and holding my money each month. Additionally, their payment system is terrible. When you try to schedule out your autopay, it won't let you set a date in the future that goes beyond your current statement. That's stupid. I put in a one-time payment for the current month. Why do I then have to wait and log in again at some future date to enroll in autopay for the following month? Perhaps they're trying to protect people from setting up autopay and then missing a payment... but people should be able to figure out that if they set up their autopay for a future date, they still have to cover their current payment. It's a stupid system. The information provided on their website is also bare bones. I much preferred UWM's interface. Not impressed w/ Flagstar Bank at all. Oh, and their automated phone system is a time waster as well.
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Pros:
  • Still looking for one
Cons:
  • Terrible escrow system
  • Bare bones online interface

Preferred solution: A better payment system and online interface. A better way to contact customer service. A way to provide customer feedback that will result in positive changes.

User's recommendation: Avoid if you can. Lament if they buy your mortgage after the fact.

Comment
1
2 comments
#2367477

Hi Stephen, We understand you are frustrated and would like to address any concerns you have as quickly as possible. If you are willing, please direct message us so we can learn about your experience and how we can better help your situation. Reach out to our team on our Facebook (https://www.facebook.com/flagstarbank) or Twitter page (https://twitter.com/flagstar) so we may put you in touch with a supervisor.

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0 0
#2367202

Never trust

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Low S Obi

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ

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#4919671 
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Insurance Claim

1.0
My house burned down in November. I sent in my claim check in April, they applied the funds to the wrong loan even though I wrote the information with the check. They have had $420,000 of my money and I can not get reimbursed for my $17,500 bill that I paid out of pocket to have the rubble from my home taken away. I have spent over 6 hours on the phone and every time I call it is like the first time. I am starting to believe that this is a scam to earn interest on the money that is mine. To say they are completely inept would be too generous. I think they are scammers and criminals. Since they misplaced my funds, they should have instantly fixed it, instead it has been 6 weeks with nothing. It may be worth getting other people together in a lawsuit if this is their MO.
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Cons:
  • Awful scammers and no customer service

Preferred solution: Paid for the money I have spent out of pocket

User's recommendation: Stay clear

Comment
Helpful
2 comments
#2371552

Low, thank you for taking the time to leave us a review. We apologize that we provided a less-than-ideal experience and understand your frustration.

If you are willing, please direct message us on one of our managed social media platform profiles (links below) so that we can collect your contact information & further details to better assist you. facebook.com/flagstarbank or twitter.com/flagstar

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0 0
#2371554
@FlagstarBank

Why would I message you? I have spent so many hours on the phone to no avail.

You lost my $419,00-+ for over 4 months and I can still not pay my bills, you should be jumping through hoops to make this right. So pathetic.

You should contact me. laysarcs@***.com