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
Started by OFELIA SIERRA. Last reply by OFELIA SIERRA May 3, 2019. 2 Replies 0 Likes
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
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Is there a fax number to send the SS initiation package to? I'm only finding a mailing address. Thanks!Continue
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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
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Is there anything unique about initiating an FHA short sale with Flagstar? Any guidance would be appreciated. Thanks.Continue
Comment
You're lucky you got your transaction to close in 5 months! It will be a year in June for me. I constantly follow up with Flagstar, but the file is always "in review." Finally got the ATP last week and it still has to go back "for review," and we have to close by June 30. It's constantly staying on top of them! Must have patience in working with Flagstar.
Hi there - I'm a buyer that just put an offer on a short sale. I've been reading nothing but bad things about the turn around time for Flagstar. Is there any chance that Flagstar will be held accountable with the new Federal Housing Finance Agency directives that go into effect on June 15, 2012? Also, any "good" stories from Flagstar will make me feel better :)
Jae: The best luck I have with calling ANY bank is placing your call EARLY morning. Here in Arizona I call around 6 a.m. which is 9 a.m. now on the East coast...just my trick if there is any with Flagstar! Good luck to you!
I've called three days in row and no matter what route I try I end up on hold for the Loss Mit dept. for over 30 mins without getting through. Help! Any other way?
Flagstar should be ashamed of themselves for doing such a poor, poor job in processing short sales. I've had a cash offer since last July!! From what I have learned, they take a minimum of 12 months to process a short sale. I think you're right, Barbara, they must get a bonus or some incentive if the property goes to foreclosure because they sure aren't helping these distressed homeowners.I feel sorry for the homeowners.
Shame on you, FlagStar Bank!! We have had a cash offer on the table since the end of December, and we were assured that we had provided you that everything that you needed was received by the end of December. You then put this in the hands of one of your "single point of contact" people (for our purposes, code-named "PS") and told us that we could only commuicate through him.
February 7th was the last time that the "single point of contact" (PS) and I had a conversation. Hetold me that a BPO had been reordered. We confirmed that I should be contacted for access to the property.
I left unreturned messages to PS on 2/13, 2/15, 2/16, 2/21, 2/22, 2/23, 2/27, 2/28, 2/29, 3/1, 3/2, and 3/5. Additionally, I was advised that Waneque Christman has been assigned as a "Mediator", and I left multiple message for her, also.
I had previously escalated the file to Fannie Mae. On 3/1, I called Fannie Mae, again, to request their assistance. I will leave the details of that discussion for the Fannie Mae group... needless to say, it was not very helpful.
Bottom line: we have had a cash offer on the table since the end of November at $225,000. After many, many phone calls with FlagStar, we had confirmation that all documents requested had been received by the end of December. Many calls made to get the 2/6/2012 foreclosure sale date postponed, Barely successful. Zillow value has consistently been in the $230K range.
So, must be some incentive to let this go to foreclosure ....would be interested in any insights.
I do plant accelerate within Oreon law.
BAC requires the same verbiage for their FHA ss. I think it might have to do with being owed a commission if the property reverted to a DIL. I dont think the banks want to do a DIL. But the might if the ss attempt fails.
Flagstar is requiring the following addendum to be added to the listing agreement:
"Seller may cancel this agreement prior to the ending date of the listing period without advance notice to the broker, and without payment of a commission or any other consideration, if the property is conveyed to the mortgage insurer or the mortgage holder.”
Doesn't this verbiage sound like the bank might attempt to get the seller to do a deed-in-lieu instead of a short sale?
Got in.
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