Comment

Comment by Deidre St. Romain on January 24, 2012 at 9:31am

Nancy:  Have Bryant Tutas put this information at the top of this group so it doesn't get lost..thanks for this!

Comment by Nancy Fung Martin on January 24, 2012 at 9:28am

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

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

Comment by Deidre St. Romain on January 19, 2012 at 4:14am

Wow!  Good for you Kari!  Don't take NO for an answer.  Sometimes you have to work a little harder and be creative to get to the right person.  Kudos!!

Comment by Kari A. Battaglia on January 19, 2012 at 4:11am

Well I am still working on offer submitted 12 months ago.  Called the office of the president and finally reached escalation team.  I was told time and time again that there was no escalation team and if I spoke with management my file would move to the back of the line.  I am now working with someone who knows what they are doing and I am hopeful this deal will finally close. 

Comment by Jesse D. Moore on January 17, 2012 at 3:16pm

Flagstar is the worst. Worse than Aurora and Ocwen combined. Have you sellers fill out the shortsalepacket.pdf. I submitted my file the beginning of November, and two months later I'm still not through document collection. Be sure to send paystubs and statements when you get them. Also send in copies of the seller's driver's license (front and back). They made my seller's waive HAFA verbally AND in writing - using a form that they have to mail to the seller directly (if anyone has this form please post it). Flagstar makes this process miserable, and they have no qualms about closing a file even if it's based on THEIR delay. Be prepared for an exhausting and frustrating process - we average approvals in 4-8 weeks with most servicers, and every call I make to Flagstar puts me in a bad mood. 

Comment by Deidre St. Romain on December 29, 2011 at 10:18am

Wanda:  You Go GIRL!!  You have to be proactive with this lender because they will make no forward movement unless you "rat them out" so good for you!!  Thank you for sharing the numbers as well.  Keep us posted on your progress and give us all hope!

 

Comment by Wanda martinez on December 29, 2011 at 10:05am

I just called Flagstar and told them that the file has been ready to close with all the information for over 90 days and according to negotiator they are awaiting for signatures.  SO, I asked to escalated the file.  He told me that it would take another 2 wks. to do that b/c you can escalated if it less than120.  they satrt worrying when it is 160 days+ even on a cash deal no contigencies. SO, I called the offices of the President.  and pointed me out to where to write a complained b/c they are both veterans as well.  Their number is 248-312-2000 or fax letter to 248-338-7704 make a cc note to all the high ups at the bank.  This afternoon I had already received my 1st call to "deal" with the issue :)

Good Luck,
WANDA

Comment by Anna "Banana" Kruchten on November 14, 2011 at 5:30am

Kari - thanks!  I did exactly that when we wrote the offer yesterday. This is as well an all cash deal and I let them know that most likely doesn't mean much with this bank. I'm hoping the listing agent is on top of her game - she appears to be at this point. The home is scheduled for sale 12/14 - so they're going to have to do something to at least get it stayed or we'll move on at that point.

Comment by Kari A. Battaglia on November 14, 2011 at 5:12am

Anna - I would counsel your buyers that the short sale with Flagstar usually takes on average 11 months or longer.  My deal I am working on are cash buyers and we thought that might help but it doesn't matter.  List agent just needs to keep following up to make sure the file does not fall into the short sale black hole.

Comment by Anna "Banana" Kruchten on November 13, 2011 at 10:01am

Well let's hold that vision!  Thanks Deidre!

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