Flagstar Bank Commercial Homebuilder Finance

Reviews

• MG

  Michael David Garcia

  Oct 5, 2024
  1.0
  I lost a credit card because of this company. I inherited Flagstar when they bought my mortgage. I had been with them over a month and they haven't reported anything to my credit report. I just got a letter from one of my credit cards that they were closing my acct due to "lack of real estate secured loan information". My old company already reported my loan as closed and Flagstar took their time. They resold my mortgage in less than 3 mo, what a waste of energy.
• JG

  Jorge Dariel Gonzalez

  Feb 13, 2024
  1.0
  I came to this place because our home mortgage was sold to them and it was impossible to get a hold of someone over the phone because they don’t have live representatives to talk to. Everything is automated and they are charging us an additional 500 bucks on top of our rent. There is nobody at this location just an empty office.
• MT

  My Tran

  Oct 4, 2023
  1.0
  Think carefully when you work with them.This is the worst bank system I’ve ever been. Especially the web for home loan payment. I think I was unlucky to be their customer.
• JB

  Justin bauman

  Aug 29, 2023
  1.0
  In my 8+ years of dealing with mortgage companies I've never had any issues. Unfortunately my mortgage was transferred to Flagstar and it's issue after issue. Setting up your payment / autopay, them saying they don't have your insurance on file, them including a phone number on the letter to fix the problem that does not work. Overall a nightmare of an experience and I truly hope they sell my mortgage sometime soon.
• CW

  Courtney Walton

  Sep 11, 2019
  1.0
  Save yourself the time and look somewhere else. Grueling process to refinance our house. Extremely unorganized process. UPDATE: This company should go out of business. I deferred my loan because of covid. When I went to start my payments again, they offered a loan modification. They sold it as if I could get a lower interest rate. I got them ALL the papers they requested. I had an answer within 3 days on what they were going to do. They wanted to extend my loan 10 years and make me escrow (when I have been paying my own taxes for the last few years). I asked them for a written breakdown of the offered monthly payment. They said it was in the mail. When I opened the paperwork, there was no breakdown just a monthly cost. I called and asked them to breakdown this payment for me. I wanted to know how much the principle vs taxes were. The principle STAYED THE SAME and I was told they were fronting my taxes and insurance. How does this even make sense since they extended my loan 10 years?! There was also a clause in the paper saying that taxes and insurance were subject to change. I assume in Nov/Dec I would be getting a letter stating my taxes and insurance went up and then I would be stuck with an extra 10 years on my loan. This is STEALING from people. Be aware, this company is NOT here to help. DO NOT MODIFY YOUR LOAN!! I obviously declined this offer and will refinance with my credit union as soon as possible. Shameful company.

Frequently Asked Questions About Flagstar Bank Commercial Homebuilder Finance