B MyBankTracker Rating

FlagStar Bank

About FlagStar Bank

Flagstar Bank, headquartered in Troy, Michigan, is a growth-oriented community bank with approximately 170 banking centers in Michigan, Indiana and Georgia. Chartered in 1987 as a federal savings bank, today Flagstar has assets approaching $16 billion.

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MyBankTracker rated based on the following criteria that includes real customer reviews and bank fees, among others. Our bank report card is a proprietary rating system that highlights the financial health and stability of the bank. See how it’s rated.

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Customer Reviews

Most Helpful FlagStar Bank Bank Customer Reviews

  • RD
    Reviewed By Rodolfo D. Aug 18, 2012

    Worse banking practices

    I tried to do a mortgage refinancing with this bank June 2012, but after going through the process and almost 2 months later, the loan was denied. Not getting the loan is not the problem but the way the loan was process. First, I was switch from a no cost loan to a loan with a fee of $1,900. Then they required so many documentations, including how I acquired the funds I have on my savings account. I was also asked to closed all my credit cards and lower the coverage on my homeowners insurance. Unusual; even my insurance agent was wondering what kind of mortgage company would asked you to lower home owner's insurance. The worst thing is it takes 2 month just finally find out I did not qualify. Avoid Flagstar if you want to save your sanity, money on appraisal and the trouble of closing all your credit cards and losing whatever reward points you have. If there is a 0 star rating, that's what they deserved.

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  • A
    Reviewed By ALFREDO Oct 5, 2012

    Very Difficult Bank To Deal With. It All About Them.

    I have my mortgage with them, interest payment only. Have been trying to lower my interest rate by modifying from a 6. 50 with no luck for the past 2 years. It's been so bad that i stop paying my mortgage. Because of this i might lose my house. Also tried short sale, they said i have to not paid my mortgage for 6 months before they consider. I dont want to lose my house. They are the worst and they dont care about the consumer.

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  • K
    Reviewed By keithsipos Aug 26, 2014

    What groups oversee banks like this?

    With the banking industry permitting a bank like this to continue to do business with the list of reviews posted for this bank alone, without triggered oversight, is an indictment to the regulatory institutions that put bandages on problems after they've failed. Consider how many others haven't bothered to post, yet experience the same scams. There is no confidence in companies that are allowed to continue to operate like this one. They're in the business of being a casino taking in money from home loans in the millions with profits with out being penalized. How long will it take them to penalize you if you don't do the procedures they dictate?

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  • Type Fee National Average
  • Monthly Inactivity N/A
  • Non-Sufficient Fund (Overdraft) N/A 0
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