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.
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.