MyBankTracker rated FlagStar Bank 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.
So far so good. I've had my mortgage with them for 17 months and am satisfied with their service. I cannot speak about the other services they offer or any of the branch locations.
I refinanced in December, and discovered that my new mortgage was going to be through flagstar bank. When i read the reviews i almost had a heart attack. I am very involved with my mortgage, have spreadsheets showing my payments, make multiple extra payments throughout the month, etc. I was in a panic when i read the reviews, and contacted my bank and almost had them cancel the refinance, because there is no way i could do business with a bank that had horrible reviews.
My bank reassured me that a lot of their employees had their mortgage through flagstar, and they were very happy with them. They were able to talk me into going through with my refinance. It has been 3 months now, and i am extremely happy with flagstar bank. The online options that i have to look at my mortgage are the best that i have seen. It is very easy to make extra payments as often as i want online. I had a question about my mortgage, and was hesistant to call flagstar bank (because of the horrible reviews).
I was at work, and knew that i didn't have 45 minutes to an hour to sit on the phone and wait. Once again, i was surprised! I was on hold for less than 2 minutes, and the customer service rep was very nice, knew exactly what he was talking about, and was able to explain things to me. I immediately chatted my husband and said, "i had a wonderful experience with flagstar! " as for right now, i would have to give flagstar 5 stars, and that is saying something, because 90% of the time i am never satisfied with companies and their customer service. Way to go flagstar!
Great hours. Professional looking, and an always friendly staff. I love this bank.
I live out of the area and have grandchildren in the jackson, michigan area. Mrs. Bradshaw , at the jackson main branch, helped me set up the necessary accounts for them, was incredibly professional and took the time necessary to assure everything was well. We remained in touch, until about october, 2011, when the contact ceased.
No explanation given. The online service, with an account at a brick-and-mortar bank, works quite well for me. The bank is struggling; looking at their stock price and their financial ratings indicates how bad off they are. For what i need, the bank works well. I hope they succeed. I hope the standard for customer service i initially found can be restored.
I have continually tried to balance my check book with little success to the end balance being correct. The bank will do everything possible to make you go in the negative by posting multiple charges out of order before posting a larger one.
On another note. I went to the bank to have my "checking and savings acct.s "linked"" to find out a year later that they still had not been linked because they wanted me to continue using a line of credit instead of taking money for overdrafts out of my savings account. Of course they would charge the additional fees plust whatever was charged by the vendor. Watch out!
Refinanced online and they sold my loan to flagstar. I have made two payment errors and have needed to call customer service. The first was i doubled paid my mortgage, and the second was they adjusted down my payment and i misread the month so i sent the reduced payment one month early. They called me and told me i underpaid my $1950 mortgage by $40 and they were accessing me a $79 late fee. I told them i was a good customer and had over paid every month and i was early every month.
And would they please give me a courtesy "by". They would get back to me. Never did. So in both cases i called customer service and was hung up on by their automated 24 hour line. Hung up on. The first time i had to punch in the line for delinquent payees just to get a human. The first time i waited 1/2 hour on hold. And like i said today i got disconnected 3 times by their phone system. If you can possibly not deal with these clowns then don't. Oh how i wish i had stayed with chase.
I go in there sometimes but mostly through the drive-thru. I have seen the changes that were made as far as staffing, but I don't know if it was for the best. I did see the women with the heels who claims she just started. She pushes the customers off to the two people that handles everyone. She should of stayed an assistant or better yet been fired. Her customer service is terrible and it is bringing down the business. Overall the service is great from the two. Everyone else is in la la land.
If anyone suggests to use flagstar as your mortgage company - run as fast as you can. They are a nightmare! We may lose a deal on a property we are purchasing bec they are taking too long to approve the loan - it has been more than 6 weeks since we started the paperwork with flagstar and we are no closer to closing the deal than when we first started. They are very disorganized and keep asking for the same documents over and over again. It seems like every day, they ask for something else that they are missing.
This is very frustrating -- they should ask for ev erything at the same time. After dealing with our attny for 6 weeks, now they are asking for the attny to submit an application to be considered as a fha attny. Our attny as been in business for over 30 years. Why didn't they ask for this 6 weeks ago! Your guess is as good as mine! Also, they want proof of insurance on the property we are buying - but they refuse to give us a closing date so we can buy the insurance. How are we supposed to buy insurance on a place when we don't own it yet?
Our insurance rep has called them numerous times and they waived this requirement verbally. Then, the next day they send an email requesting the insurance verficiation. Are they people stupid or just morons? We've already asked the seller to give us 4 extensions dates because flagstar is taking too long to give us a closing date. Now, they won't give us anymore extensions and we will probably lose this deal bec the deadline is today. And, we still haven't gotten any word from flagstar! I'm sure now we will have to find another place to buy and you bet we will not use flagstar again and we will tell everyone we can not use them either.
I repeat -- do not use flagstar -- they suck!!!! A monkey in a business suit can do a better job than the people they currently have working for them.
Unfortunately, I have a mortgage with Flagstar and I recently filed an insurance claim due to storm damage. Flagstar has a process that is so convoluted that I had to record the automated instructions that are given on the phone. You cannot get a real person from the claims dept. on the phone. You can request a callback but the recording says it will be up to 72 hours before they call you back. Then, when they call back, if you are not able to answer, you have to go through the process all over again. They required a notarized affadavit, the check from the insurance company that they are supposed to co-endorse, the contractor's license and insurance certificate, a copy of the contract with the contractor, a check for $33.50 for an inspection. All that, and more, and the claim was under $10,000!
When I finally got someone on the phone. I had to get a person in another dept. to contact the claims dept and I refused to get off the line until a live person from the claims dept. came on the phone. She said if the claim had been over $10,000, Flagstar would only send 1/2 until proof of the work was established. My insurance agent--and this is a well-known national company -- had never heard of the affadavit. I had to obtain that from Flagstar, sign and notarize it, scan it and e-mail it back. I asked the Flagstar claims specialist to email me back when she received the document. I have yet to hear from her.
This process isn't over, but clearly Flagstar is not interested in customer service. If my post stops one person from doing business with Flagstar, it will be worth the time it took for me to write this.
Flagstar charged me over draft fees all the time (which I fought because I had money in my account) and would get reimbursed. What a hassle though. After about the 5th time of this I cancelled my account. Low and behold it didn't get cancelled? So an automatic transaction went through. Never found out about it til a year later when attempting to get a mortgage! What? Then when I call to talk to someone about it I get passed on to 4 different people because none of the prior ones could help me? So no resolution my credit just had to take a hit because they failed to close my account OR tell me about it. No statements, letters, nothing. All around a horrible banking experience. Wouldn't recommend for anyone to join.
Trying to cite irs requirements to support they way of doing, while incompetent to interpret what they cite. Unwilling to support customer requests.
The bank utilizes a process that is patently unfair to the consumer. When a hold is placed on your card (not the actual payment transfer) they deduct overdraft fees in anticipation of an overdraft. They also will stack all of the deductions before any deposits. This has occurred repeatedly with an automated transfer from one account to another. While i have the deposit set as a recurring item ( one would expect that is hits my balance at midnight) they process at 9. 30 in the morning after all the pending debits , causing overdrafts. They have refused to credit all of the overdraft charges that cascade and snowball. I refuse to deal any longer with thieves.
Call them for questions and the women representatives always have an attitude. I get upset and get a headache everytime i hear about this bank.
Put over 14k in flagstar bank. Lost my job so put this money in my account for bills and the such. I placed bounce protection on this account. Luckily, I found a job. 2 days before I was to receive my first check my new job my acct was almost empty from the work stoppage. I used the bounce protection for 60 dollars knowing I had a check coming in another day. I called to pay the $60.00 the day I received my check. (2)days later. Flagstar charged $618.00 for the $60.00 I used.
We have had nothing but problems from this our Flagstar mortgage. I don't have the characters to explain all of our complaints, but I can't even imagine half of what they've done is even legal. We've had to have our personal bank intervene on our behalf and STILL just a few months later, we are having problems. I'm looking into refinancing.
The branch manager does not help out- i asked the gentlemen there her name? Nicole springer. She ignores the customers while parading around in these unprofessional heels. I always have to wait. It seems llike only two people are always working-but there are four to five people there. Terrible!
I have been attempting to get a loan modification to my mortgage under the "making homes affordable act" since june 10, 2009. I have submitted reams of records and statements. I asked for an expeditious response on january 15th, 2010 as i was increasingly in need of assistance. The last 4 - 5 months i have been informed by the banks loss mitigation dept. That my paperwork was completed and i would be contacted for resolution within the next 30 days.
It is now sept. 20, 2011 and i am still waiting. (note: check your dictionary! I asked for a loan modification meaning i wanted my loan modified, or changed; they put me in loss mitigation, which means making their loss less harsh! It's just cya for the bank!!! This bank is not responsive to the needs of it's customers. Avoid at all costs!
Horrible experience getting a Mortgage. They are just bone lazy and their Underwriters have no idea just harass the customer. I have A++ Credit have one loan with them they preapproved me for a second loan for a Condo for a small amount. They have been sitting on it for 2 months and now it is closing time they are asking for documentation which was provided immediately but still refuse to clear to close. If that is the case then why pre-approve especially someone with the Income assets and good Credit history and an excellent Condo building. The purchaser and the buyer have been put in this really poor situation through no fault of theirs. We were told for the past 10 days the loan would close we are still waiting. Never ever do business with this bank. I am a Commercial Lender if I did this with my loans I would be thrown out of the company.
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?
I had water in my basement in December of 2013. Since that time I have paid over $14,000 to contractors for repair work that has been done. The insurance company issued a check of $5000 to cover part of the damage done at that time, which needed to be endorsed by FLAGSTAR to deposit the funds. Despite issuing appropriate paperwork detailing the work that has been done, I waited 3 months to get any sort of reimbursement. When the check finally came it was only for half of the original $5000 and it was made out to the contractor. Upon following up with Flagstar they told me that an inspection needs to be done on the property to ensure the work has been done so that the check can be made out to me. I understand the protocols for this madness, but I feel that since there has been appropriate invoices for paid work, contractor licenses, etc. submitted they would have understood that the work has been completed and therefore communicated the appropriate steps at that time. Poor communication and poor customer service.
Computer keeps calling my home telling me to call about a outstanding loan.I finally get a human when I call back , I inform them I do not have a loan with them and please stop calling me,they say they can only pull my account up by my account #. I do not have an account # so they can not stop the computer from calling my house.I finally get someone to transfer me to someone else who hangs up on me because I will not give them my account #. I callback again and have a some one who says they are a supervisor and they are sorry and will take care of it. I still get phone calls, I see no other action but to contact an attorney,I wonder how far he will get without an account # unbelievable.
Like many people, a year or so ago our family experienced a decrease in income. Thank goodness we had paid our mortgage on time for 9 years. So, under the fabulous HARP program - designed to help homeowners in stress to keep their homes - Flagstar began the refinance process with us. THEY LED US ON FOR MONTHS, knowing we desperately wanted to keep our home. Basically they would tell us they had everything ready, a low interest rate and a clear to close, but then they would find an excuse to drag it out another month, MONTH AFTER MONTH AFTER MONTH AFTER MONTH. After riding this emotional roller coaster ride, they finally bled us out, and we had no other option than to let the house go. This is a very DISHONEST bank, I highly recommend you steer clear of them.
I have never deal with people so rude, inconsiderate, nasty, and so stupid in all of my life. Every time you have to call them for some mortgage transaction is the most horrible experience, and will ruin your day guaranteed. They scream at you and do everything but call you names. I dealt with this fool Deneen Hampton and he's an absolute work that should never work anywhere ever again. If you are considering this bank, run for your life and never look back. I give them -10.
Using Flagstar's online site was horrible. Complicated system for establishing the account, and then everytime I wanted to login more complicated steps. Finally was able to move money from checking account to Flagstar online account. When I saw the $25 monthly account charge I wanted to close my Flagstar account but the only way to get my money back into my checking account was via wiretransfer and another $25 fee. So I can transfer money in but not out? Between all the fees I lost $65 on $1,000. And their customer service was also horrible. Flagstar should take a look an how Captial One 360 conducts their online banking.
Applied for a delayed financing mortgage. We met all the requirements and after 3 weeks of constant questions from underwriting. At the last minute after answering all their questions promptly, they informed us that they would not adhere to the guidelines for the delayed finance program. The reason was that I didn't pay enough for the home and the appraisal came in to high. I dumped 30,000 of my own money into rehab the house.That's why the appraisal came in high. The funny thing is they had all the numbers 3 weeks earlier when they gave me the conditional approval based on those numbers. My mortgage broker kept asking them to just give us all the questions at once so that we could close. They just kept asking questions until there were no more and they were backed into a corner. Most unprofessional conduct I have ever seen.We were on a time limit and they ran the clock down and offered me a more expensive product at the last minute. Learned my lesson, ask the bank that will be doing the underwriting in advance, if it is Flagstar, keep looking. I will never do business with Flagstar and I warn everyone I meet. I am sorry the scale here doesn't allow for zeros.
I have my home loan with Flagstar bank for last 3 years, there was a horrible experience to deal with this lender. They made all kind of errors but never want to fix it, Their unprofessional and error were waster my time and my money. They charged your money for their mistake. I contacted to the loan servicing, but their rude and unprofessional service which I never ever had before. They play all kind of games to cover their mistakes. One time, I need to travel so I payed the monthly mortgage payment couple of days ahead, so I would not miss the payment. Couple of month later I found they charged me for $1200.00 late fee, I was shorted and called them to requested them to correct it, but the banker was so unprofessional and rude, she told me that they put my mortgage payment to my house principal without my knowledge, I told them I would not like it and try to let them to make correction. They refused to do so and yelling at me badly, For avoid the later fee I than I payed another $1340.00 check for that monthly payment, but they still charged me $1200 later fees. Totally I lost more than $2500 because of their mistake. When every time I called and talked to them, they are just so unfriendly, and they not only wasted my time and lost my trust but also made me and my family very unhappy. Here I share my experience to everyone, try to avoid business with Flagstar. Horrible service, big headache, trouble maker. I am so happy finally I got another loan and don't need to deal with them forever.
We have been trying to get a modification since October of last year. We finally got into the trial period and were told to make 3 months of payments by certified check which we did. We were then told to keep making the payments of the agreed upon amount and we would hear from Flagstar. The word we got were harassing letters telling us we were behind in our payments. When we go to their system and look, all of our agreed upon payments were made on time before the due date. If we had it to do over again, we would never do business with Flagstar. This week we just received another threatening letter.
What a horrible experience it has been to buy my first house thank you flag star for that. They will do anything to benefit themselves and make your life miserable. So many things that i find hard to believe are even legal. It was an fha loan so we did a few repairs sent them proof, they had "their inspector" come out and look at it all seemed well. Until it was time to give us our repair escrow money back (which by the way the whole process took forever so i hope they enjoyed getting all the interest from our repair escrow) we are only getting half our money back and the other half is going into "principle" when i bought the house i had to add another $2000 of my own money into the cost for the repair escrow.
We did the god damn repairs and because we spent less than $2000 on repairs we don't get it all back?!?! Scam artists! Basically i'm losing $1000 cash which i need to do the work i want on the house. I don't want the money in "principle" i need it back!! They are rude on the phone and play shady games.. Both during and after the house purchasing process. Most banks suck in general but flag star is the worst to go through for anything!! Watch your backs.. Read the fine print, they will do anything to make money and make you lose money. It's almost like one big game to them and they don't play fair. Just don't do anything with flag star they need to be shut down. They don't need more customers. They need to not exist. Really wish i would have gone with another bank. Greedy, selfish, money hungry people. I literally hate flag star. I hope karma bites them in the butt one day.
This bank is the worst in all my 50 years of dealing with not only banks but any business. Please do yourself a favor and stay far away from these idiots. I do not see how something run this poorly and incompetent can still be in business. I wish they would hurry up and go bankrupt.