Information

Flagstar Bank

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

Members: 163
Latest Activity: May 3, 2019

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

FLAGSTAR

Started by OFELIA SIERRA. Last reply by OFELIA SIERRA May 3, 2019. 2 Replies

Does anyone have an email address or direct phone number for a Flagstar loss mitigation supervisor.  I have been trying for the past 3 weeks leaving message after message fo my assigned specialist…Continue

Initiation Package....

Started by Tom Braunagel. Last reply by Ben Benita Jun 6, 2016. 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

Comment Wall

Comment

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

Comment by Tara Dunn on February 4, 2011 at 12:21pm
I had a complete package I submitted in Nov. to Flagstar...and after 60 days of nothing, the process began moving along smoothly.  Today I found out that they denied the sale and moved the file to inactive because the Sellers transferred the deed to their family trust.  We have fixed this with the title company and are hoping that we can save the file from "inactive".  I plan to write to people higher up, if not.  We already had an approved price from them and we were just pending final approval.  I'm a little taken back by this, as this is frequently remedied at the closing table (the deed issue).  Thoughts?  (I represent the seller.)
Comment by Janet Nelson on January 20, 2011 at 2:47pm
I had a HUD short sale (orPFS) with Flagstar...I only got approval out of Flagstar when I had the seller file a grievance with HUD against Flagstar, and HUD got on the banks case....That made something happen...Hope that helps.
Comment by Kynse L. Agles CDPE on January 20, 2011 at 1:51pm

This is what I posted on January 14, 2010- Just 1 year ago. Flagstar also reported the mortgage as paid in full to the credit borough. They just recorded the satisfaction of mortgage 2 weeks ago. 

 

Yes, just closed this morning. Was supposed to close Monday but the buyer could not close until today. One of the owners had passed away and Flagstar made the owner go through probate (probably looking for any hidden assets) because she had received a life insurance policy Flagstar originally wanted a $25K prom note and $25K cash at closing which nI negotiated down to $5K cash at closing and no note. They are very quick, my first buyer backed out and the next offer I received was accepted and approved in 7 days.

Comment by Kynse L. Agles CDPE on January 20, 2011 at 1:49pm
I closed a  Flagstar short sale a little over a year and a half ago. Maybe even not that long. The process was very short and smooth. I now have a short sale pending with Flagstar and it is not moving forward very quickly- the package has yet to be assigned to a negotiator after 4 months. Everytime I call they tell me by the end of the week I will be assigned. Very disapointed this time around. If you search my very old posts you will find my success story!
Comment by Michael D. Schade on January 20, 2011 at 1:44pm
Lynn, my best advice is run away,Flagstar
hasn't figured out the process,yet. They
are the worse outfit I have ever dealt with.
Comment by Lynne Catrow on January 20, 2011 at 12:02pm

Soooo, who has closed a short sale with Flagstar?  Can you please describe the process Flagstar uses and the timeline you experienced?

 

Thanks.

Comment by Janet Nelson on January 20, 2011 at 11:42am

Tiffany

I will say (from my expeience anyway),  going higher up -esculating-at Flagstar for help is useless...It only get's worse.

Comment by Michael D. Schade on January 20, 2011 at 10:43am

Tiffany,I'm so glad to hear from you.We are about to make our 100th call to Flagstar to try and get pass their BS and get a final answer or my deal is dead.

Buyer feels Flagstar has no intention of finalizing this short sale and will continue to put up road blocks until house goes into forclosure.What are they thinking????? Seller has reached her limits and is ready to turn utilities off in the middle of winter,but Flagstar could care less.What are they thinking?????????

Comment by Tiffany Carver-O'Malley on January 20, 2011 at 10:28am

Michael, I am in the same position.  I submitted a complete package at the end of Novemeber and have heard nothing. 

I agree this is a joke.  I was told today that my package has been submitted for review and this could take more than 60 days.  I then asked the rep to speak with a supervisor and she told me that was not necessary and hang up on me.  Does anyone have any higher up contacts that can help me with this deal?  PLEASE!

Comment by Michael D. Schade on January 19, 2011 at 6:59am
Well,here it is Jan.19,2011, 2 months after what should have been an easy closing that I have dicussed in other comments.  I am so fed up with the games Flagstar is playing with peoples lives,they are ridiculous and totally unwarranted. The "team concept" has failed miserably and now everyone is paying the price for their incompetence.
 

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