Mortgage -- Trouble during payment process -- Complaint #4505666
Complaint Overview
Complaint ID: 4505666
Company: Flagstar Bank, N.A.
Product: Mortgage
Sub-Product: FHA mortgage
Issue: Trouble during payment process
State: Kansas
ZIP Code: 661XX
Date Received: 2021-06-30T12:00:00-05:00
Date Sent to Company: 2021-06-30T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
In XX/XX/XXXX, I made a payment to Flagstar in the amount of {$1200.00}, to be applied to my escrow account. The money was misapplied : 1 ) a part was applied to a future payment ; 2 ) the balance to the principal. This was NOT the direction I gave when making the payment. I continued making my payments timely and in full, not realizing that the payments were ahead because I often make extra payments per year to pay down the loan balance. Now a year later I learn that the {$1200.00} was NOT applied to escrow, resulting in an increase of my monthly payments from {$810.00} to {$1000.00} per month. Additionally, I now have a new escrow shortage balance of {$1800.00}. I just learned this today XXXX XX/XX/XXXX XXXX, even though I have been reaching out to Flagstar for weeks trying to understand why my monthly payment was going up so much. I feel like this company is making me PAY for their mistake. They are unwilling to correct THEIR error, but instead are forcing me to pay. I feel that people should be warned about Flagstars practices and how they do business. I am a person who pays my bills timely and do not deserve what's happening at the hands of this company.
Frequently Asked Questions
What is Complaint #4505666 about?
Complaint #4505666 was filed against Flagstar Bank, N.A. regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2021-06-30T12:00:00-05:00.
How did Flagstar Bank, N.A. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Flagstar Bank, N.A.?
Yes, visit the Flagstar Bank, N.A. company profile at readthecomplaint.com/company/flagstar-bank-n-a to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.