Have a complaint against Flagstar? We want to hear it
Yes, Flagstar is a real company. It was chartered as a Federal Savings Bank in 1987 and today it is the third-largest Savings Bank operating in Wisconsin, Indiana, Ohio, Michigan, and California.
Flagstar definitely is a real company, but sometimes real companies do unfair things. If you have complaints about Flagstar, you can share them.
Flagstar is a mortgage loan servicer. A mortgage loan servicer is a company responsible for managing the loan you have with a mortgage lender, responding to your inquiries, keeping track of your payments and any interest owed. A mortgage loan servicer can service loans that they lend themselves but they can also service loans from other lenders.
Flagstar is also a direct lender. As a bank they provide mortgage loans depending on your situation. Direct lenders are banks or financial institutions which loan you money for a mortgage. A direct lender is different from a loan servicer in that the direct lender is only responsible for lending you the money.
Flagstar is not a debt collector. A debt collector purchases existing debt from companies like mortgage lenders directly. They do so for a fraction of the cost and then the debt collection company tries to collect full repayment from you. However, Flagstar is a mortgage loan servicer so they will regularly follow up with you regarding payment on your mortgage and how much you owe.
According to the mortgage information center questions, it’s quite common for Flagstar and other companies to transfer or sell mortgages to other institutions. This provides money for the mortgage lender to make additional mortgages available to other homeowners.
As of 2022 Alessandro P. DiNello was the CEO and president. He has served in this role since 2012.
Flagstar Bank is a subsidiary of Flagstar Bancorp. It is traded on the New York Stock Exchange with a mortgage division operating in 83 locations.
Flagstar is headquartered in Michigan. Their address is: 5151 Corporate Dr Troy, MI, 48098-2639.
Flagstar’s main phone number is 1 800-968-7700. There are additional phone numbers and email addresses for the type of loan support you need.For example, if you are experiencing financial hardship you can direct your questions to 1 800-393-4887 Monday through Friday from 8:30 a.m. eastern standard time through 9 p.m. If you want to send your payments directly through the mail you can address them to Flagstar Bank P.O. Box 660263 Dallas, TX 75266-0263. You can also log into your personal account and send an email or submit a form based on the issue you’re having.
The best way to speak with a human at Flagstar is to call customer service at 1 800-968-7700 during regular business hours Monday through Friday from 7:30 a.m. through 8 p.m. Eastern Standard Time and on Saturdays from 7:30 a.m. through 4 p.m. Eastern Standard Time. If you are unable to get a hold of someone, you can submit a complaint about bad customer service too.
FairShake complaints about Flagstar have to do with late payment fees, false advertising, and misleading marketing.
Flagstar Bank has multiple complaints having to do with service problems and billing or collection issues. Many customers have complained when their mortgage is sold to Flagstar, and they are hit with late payment fees even though they didn’t know the mortgage was sold.
You can make payments online through the online mortgage servicing center. You can also submit your payments through the mail at: Flagstar Bank P.O. Box 660263 Dallas, TX 75266-0263 *Please include your loan number on the check. There are options to call customer service and pay over the phone but Flagstar adds an additional $15 convenience fee.
A payoff letter is a letter that provides the exact amount of money you owe on your mortgage including your outstanding balance, fees, and interest.
If you believe that you are owed a payoff letter you can request a copy through the customer service department by calling 1 800-968-7700 during regular business hours Monday through Friday from 7:30 a.m. through 8 p.m. Eastern Standard Time and on Saturdays from 7:30 a.m. through 4 p.m. Eastern Standard Time. Flagstar Bank also has payoff calculation resource you can use to corroborate information in your payoff letter.I
There may not be public information out there about all current legal proceedings.
We do know that Flagstar agreed to pay $5.9 million in a deal over vendor breaches where customer data was exposed through a cyberattack. Flagstar also settled with the Department of Justice over $133 million fines for making false certifications on government-backed loans. In another situation a man sued Flagstar in January of 2022 for property claims in Georgia.
You can send a complaint against Flagstar to the Consumer Finance Protection Bureau, the Federal Reserve, or a regulatory agency for Flagstar. You can also make a complaint against Flagstar with FairShake. If you just want to share a complaint with the public you can use organizations like the BBB.
You can make a claim against Flagstar if you have been harmed by the company. In these cases you can make a claim for compensation depending on things like the contract you have. Similarly, if you suffered a breach of contract, you might have legal protection depending on the situation.
How you can sue Flagstar is dependent on your contract terms, and the issue you have. Depending on how much money is involved you might be able to sue Flagstar in small claims court with a traditional court case or with binding arbitration. You should consult with a lawyer to go over your situation. If you submit your complaint to FairShake, we will share your issue with eligible lawyers who will review your situation.
This is a question for a lawyer. Class action lawsuits are designed for groups of people who all have suffered the same issue and collectively file a single civil lawsuit instead of individual lawsuits. However, depending on the terms of your contract with Flagstar, class action lawsuits may or may not be allowed.
This depends entirely on your situation. Before a lawyer agrees to take on a case they will consider things like whether Flagstar violated their obligations, and in so doing cause you harm, how much money is involved, and what evidence you have. If they decide that you do legally have grounds for a case because it violated obligations or evidence, a lawyer might be willing to represent you.
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