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
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
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Comment
That's a great solution, thanks Ben!
I would bet that is not the case and you got a misinformed negotiator.
If you email me - [email protected]
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!
Has anyone ever had Flagstar tell them a property must be listed for 4 months before they'll consider a short sale?
Email me - [email protected],
and I will get you the CEO's number and email.
Anyone else need help, LET ME KNOW!!!
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
Does anyone have a current contact for escalation at Flagstar for a portfolio loan?
I've just uploaded the Flagstar authorization.
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...
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.
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....
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