Mortgage -- Closing on a mortgage -- Complaint #5628912
Complaint Overview
Complaint ID: 5628912
Company: Flagstar Bank, N.A.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Closing on a mortgage
State: Washington
ZIP Code: 98115
Date Received: 2022-06-02T12:00:00-05:00
Date Sent to Company: 2022-06-02T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
We submitted a refinance application to Flagstar bank in late XXXX XXXX. After XXXX XXXX months of being in process, we were told a separate flood insurance was required on our semi-detached garage AKA outbuilding, because our current flood insurance was not inclusive of this building, even though that policy does clearly say inclusive of outbuilding. We conceded but were barred from upping the coverage on this existing flood policy, " it has to be a totally, separate policy. After XXXX policy was submitted, we were then told that the debris & sandbag must be in a separate rider??? After several modifications trying to satisfy their ongoing demands, Flagstar 's representative XXXX XXXX stepped in and dealt directly with the flood insurance company. We finally were allowed to close but for closing we received XXXX different closing docs all with different escrow amounts, receiving the final amount stating an overage in escrow of XXXX on the day of closing XXXX, XXXX. In XX/XX/XXXX we received a letter from Flagstar stating that a flood insurance policy of {$250000.00} was required on the semi-detached garage AKA outbuilding? We immediately contacted XXXX XXXX ( Flagstar 's representative ), And sent us an email confirming that this XX/XX/XXXX letter was sent in error and this refinance is CLOSED and resolved internally? We have now learned that a forced flood insurance, effective, we guess in XXXX XXXX, was placed on our property making us then have XXXX flood insurance policies. That we have a {$2100.00} shortage and that even though we complied with every demand this mortgage company issued we still got harmed and have no trust / security. And we feel that we are being discriminated against because of ethnicity and age.
Frequently Asked Questions
What is Complaint #5628912 about?
Complaint #5628912 was filed against Flagstar Bank, N.A. regarding Mortgage specifically about Closing on a mortgage. It was received by the CFPB on 2022-06-02T12:00:00-05:00.
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.