Mortgage -- Trouble during payment process -- Complaint #5037444
Complaint Overview
Complaint ID: 5037444
Company: Flagstar Bank, N.A.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: New Mexico
ZIP Code: 870XX
Date Received: 2021-12-23T12:00:00-05:00
Date Sent to Company: 2022-01-11T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I had hail damage on my roof in XXXX NM in XXXX. The insurance company provided me checks for air conditioner replacement and for roof replacement. Flagstar Loss Draft department refuses to endorse the checks and forward me the insurance money so I can pay my contractors. I researched them on XXXX and found they are doing this to tens of thousands of customers. I believe they are trying to keep insurance claim checks for themselves instead of endorsing and returning to their customers. I have had to contact them over 35 times and I get a different agent every time and a supervisor is never available. This appears to me to be way more than just incompetence and looks like a premeditated plan to keep insurance money. Consumers need protection from predatory practices and this looks like a prime example. It is now XXXX time and at this point I do not know how I am going to be able to get my insurance money back from them and pay my contractors.
Frequently Asked Questions
What is Complaint #5037444 about?
Complaint #5037444 was filed against Flagstar Bank, N.A. regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2021-12-23T12:00:00-05:00.
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.