Short Sale Superstars

Providing you with the knowledge and tools needed to succeed with Short Sales

Information

Flagstar Bank

Loss Mitigation Phone- 1800.968.7700 ext #9780 Fax Authorizations/Packages: 1866.234.9845

Members: 164
Latest Activity: Jun 6

Contact Info:

1.800.968.7700 direct extension to loss mitigation (not customer service) is 9951. 


Here is a link to the Flagstar bank headquarters with phone and fax numbers:

http://investing.businessweek.com/research/stocks/people/person.asp...

During business hours you can also dial 800-945-9951.

 

Direct line to loss mitigation - 800-393-4887.

Flagstar Third Party Authorization - REQUIRED

 

Flagstar Bank Short Sale Package

12. Flagstar Bank, F.S.B., Troy, MI [Docket No. 12-1436-MR]

Action: On November 21, 2012, the Board entered into a Settlement Agreement with Flagstar Bank, F.S.B. (Flagstar) that required Flagstar to pay a civil money penalty in the amount of $37,000, and pay $92,677 to indemnify HUD for its losses with respect to one FHA loan, to indemnify HUD for any loss (past, present or future) on five FHA loans for a period of five years from the date of the agreement, and to retain and fully pay for a third-party servicing monitor for a period of one year, without admitting fault or liability.

Cause: The Board took this action based on the following violations of HUD/FHA requirements alleged by HUD: Flagstar failed to engage in loss mitigation, failed to service FHA loans in accordance with HUD requirements, and failed to offer property disposition options to the mortgagors.

http://www.gpo.gov/fdsys/pkg/FR-2013-04-11/pdf/2013-08520.pdf

Discussion Forum

Initiation Package....

Started by Tom Braunagel. Last reply by Ben Benita Jun 6. 1 Reply

Is there a fax number to send the SS initiation package to?  I'm only finding a mailing address.  Thanks!Continue

Trying to recover file in Flagstar Black Hole

Started by Jennifer Viger Jun 27, 2014. 0 Replies

Anyone have any suggestions on a better way to escalate a VA file through Flagstar?  We received an approval on May 16th, however, the approval letter was incorrect.  I immediately responded back to…Continue

FHA (FLAGSTAR) INITIATION PROCESS

Started by Bill Garrett May 24, 2014. 0 Replies

Is there anything unique about initiating an FHA short sale with Flagstar?  Any guidance would be appreciated.  Thanks.Continue

Any Management Contacts for Flagstar

Started by Pattie Johnson. Last reply by Paola Martinsen Oct 25, 2013. 6 Replies

I'm wondering if anyone has a good contact(s) at Flagstar. It's truly unbelievable incredible how horrible the short sale process is with this servicer. FHA short sale request and financial package…Continue

Comment Wall

Comment

You need to be a member of Flagstar Bank to add comments!

Comment by Neil L. on December 16, 2015 at 5:46pm

That's a great solution, thanks Ben!

Comment by Ben Benita on December 15, 2015 at 3:00pm

I would bet that is not the case and you got a misinformed negotiator.

If you email me - Ben@ShortSaleShop.net

I can check for you.

The BEST response if that is the rule:

"That is GREAT NEWS!!!  The Seller can live there FOR FREE for 4 months while this is listed?  They are going to be SO happy when I tell them"

That response is NOT on the scripts the ding dongs read from and you should be able to get better/honest answers!!!

Best of luck, let me know if I can help!

Comment by Neil L. on December 15, 2015 at 1:08pm

Has anyone ever had Flagstar tell them a property must be listed for 4 months before they'll consider a short sale?

Comment by Ben Benita on July 23, 2015 at 6:50pm

Email me - Ben@ShortSaleShop.net,

and I will get you the CEO's number and email.

Anyone else need help, LET ME KNOW!!!

Comment by Bill Garrett on July 23, 2015 at 3:38pm

PHONE NUMBER UP THE FOOD CHAIN???? 

Anyone have a name, phone number, email  or other info someone with a pulse up the food chain at Flagstar.  I am having a very difficult time getting a file with Flagstar on track, let alone getting any traction for the SS review.  Thanks

Comment by Vikki Lucas on November 19, 2014 at 1:45pm

Does anyone have a current contact for escalation at Flagstar for a portfolio loan?

Comment by Wendy Rulnick on May 29, 2014 at 11:39am

I've just uploaded the Flagstar authorization.

Comment by Pat Hood on November 1, 2012 at 10:08pm

What % will they take to satisfy a $63,000 purchase money HELOC? Non-recourse..Arizona. Nationstar/Fannie first offering 6%.If hammer them at 6% possible? What is realistic with them? Seller re-located(out of necessity) to California for a job. So, has not missed any payments on either loan yet...

Comment by Celeste ODea on November 1, 2012 at 9:23pm

Flagstar is a nightmare regardless of which side you are on.  It took us 15 months from beginning to end to close a deal.  Same buyer, but by the time the buyer closed, the values had come down significantly, but he was happy it was over and done with.  I will never take another listing that is so unfortunate to have a loan with Flagstar.

Comment by Pat Hood on November 1, 2012 at 8:53pm

Just starting to negotiate a purchase money HELOC with Flagstar...1st is NationStar/Fannie.Can anyone tell me that Flagstar is better to deal with in HELOC department in second position??I sure hope so!

Thank you for any insight....

 

Members (164)

 
 
 

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