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**We are not affiliated with any mortgage servicer, the investor/beneficiary of your mortgage note, the mortgage insurer (if applicable) or any government agency. The information found on this page is for educational and convenience purposes only. The information found on this page should be considered as opinion and not fact based on our experience with lenders over 10+ years. Consult your mortgage servicer directly or a professional before using any of the information found on this site. If you are seeking an intermediary to assist you in getting help with your mortgage you may contact us at 888-934-3444 or via email at [email protected] for further review for a no fee, no obligation, consultation. If required you may be referred to a local professional or legal counsel for additional assistance with your mortgage. Please read through our Disclaimer page for additional details. We do not represent in any way any financial institution named on this page. If you feel that any of this information has become outdated or is incorrect please contact us immediately.**

Flagstar Bank Mortgage Loan Modification

Flagstar Modification Decline Review

Flagstar Mortgage Modification Denied? What to do.

Get Help With Your Flagpoint Loan Modification

Talk To A Specialist Who Knows How To Deal With A Flagpoint Mortgage.

Get Help With Your Flagpoint Loan Modification

Talk To A Specialist Who Knows How To Deal With A Flagpoint Mortgage.

Flagpoint Mortgage Modification Process

The Flagpoint Bank Loan Modification process involves the following typical workout protocol:

  1. Phone Interview The phone interview triggers The Loan Modification Application Process with Flagstar Bank.
  2. Submit A Complete Package Completion and submition of Flagstar Bank Request for Mortgage Assistance (RMA) Package of Paperwork; Provide supporting documents and complete finances.
  3. Flagstar Broker’s Price Opinion A Property Valuation is Completed (If, Applicable) – Often this may also be done via an automated valuation model (AVM)
  4. Negotiations Terms of The Modification Review Are Processed, Negotiated and Sent To Underwriting
  5. Modification Response Servicer Provides A Response

Sadly the process is never this easy which is why we, Absolute Consultant Group (ACG), are here to support homeowners through the process. Going around in cicles is typical with the Flagstar Loan Modification Process. The submission of the package and supporting documents repeatedly is also, frustratingly, typical as well.  Getting transfered around the company from department to department having you run around from Flagstar Loan Modification Department (Loss Mitigation) to Flagstar’s Customer Service Department is also quite normal. Submitting the wrong information on your application, getting denied, and not being able to figure out what happened is why coming to our staff can help you avoid a lot of heartache. Our staff is available to review your paperwork and to help you step with the best foot forward. Call us at 888-934-3444.

Flagstar Bank’s Mortgage Loan Modification Timeline

Companies such as Flagstar has a lot of bureucracy involved. Flagstar Bank’s  Loan Modification timelines vary often on things that are straight forward but not always. Here are a few of the reasons this question has such sticky answers.

  • For one, Flagstar is simply a loan servicing Company. They are representing debt on someone elses behalf. This limits all decision making. As a mortgage note servicer they have to abide by their Pooling and Servicing Agreement (PSA). They have an agreement with each and every investor. In some cases they may be delegated to make decisions on behalf of the investor they are servicing the loan for and in other cases they are not delegated (non-delegated) which means they have to request permission from the investor before being able to make any arrangements. Investors like Fannie Mae (FNMA) and Freddie Mac (FHLMC) often take the decision making authority into their own hands. In a heavily regulated business the more hands invovled in each review the longer it takes leaving Flagpoint Mortgage with their hands tied.
  • Another issue, affecting the modification timeline is priority. Priority is often governed by when the application was first submitted but it may also be governed by other pressure. This business is a first come first service until you ask if, “Does my Flagstar Loan have a sale date?” If you have a pending auction date it is likely they will attempt to review you sooner. You have to keep in mind though that servicers, such as Flagstar, have foreclosure dates for homes almost every day. Even a week from today is not worked as quickly as you might want because of foreclosures going to sale happen so often and in such a large volume. Remember this business is a first come first serve but it is also influenced by foreclosure status and proximity to the sale date.
  • Lastly, not all mortgage workouts were created equal. There are a large number of programs each with its different terms for how they would modify your loan. Typically, if the first modification type doesn’t work they will review you for the next one, and so on, until they find a mortgage solution that works. Departments due to this “waterfall” process are often very specialized so many times different represenatives handle different parts of the review. An example of this is how Loan modification negotiators review only loan mods while short sale negotiators only review short pays (discounted payoffs).

Flagstar Bank Loan Modification Timeline Conclusion: While it would be nice to give our clients  a specific turn around time for their modification to be reviewed. The timelines will vary greatly from customer to customer. Whether the decision can be made by the servicer themselves or if they have to send it  out for the investors appoval, whether you fit the first plan you are reviewed for or the 11th plan, along with factors outside the bank including but not limited to how fast they are able to get their property values back from valuation companies, how fast documents are received legibly on their end and much much more all effect how long it will take for your Flagstar Bank Loan Modifiication to be reviewed.

If Your Flagstar Mortgage Has Been Denied. It May Not Be Too Late

 

Dealing With A Flagstar Bank Loan Modification Decline

Often dealing with a Flagstar Bank Loan Modification Decline may be confusing. Understanding the details of all the plans and how that conflicts with your information is key. Here at ACG we have dozens of points we review in order to understand why your Flagstar Mortgage loan modification was rejected. Have us review your declined modifcation for free by calling us at 888-934-3444.

Additional Flagstar Bank Contact Information

Flagstar Customers

Flagstar Bank Complaints

 

Flagstar Bank Mortgage Loan Modification Reviews

Flagstar Bank Loan Modification Complaints

Flagstar is a large company and the rules are literally changing every day. There are a lot of departments and even more hands in the pot of each case that making it through the system can be a real drag. It doesn’t have to be though and that’s where we come in. Give us a call and see how we can help you with your loan modification. Call 888-934-3444.

Flagstar 1 Star Reviews

Flagstar 1 Star Review:

This company is so annoying. I am a vet that was given an opportunity to lower my interest rate. But to tell you what if I had read reviews with this company I would have not done it. I was already shady bout starting a new mortgage with a new company. And these people showed me why. They call me every month after I asked them not to call. To ask me when I’m gonna pay my mortgage if it’s not in by 1st of each month. That’s right there gets on my nerves. I have had to damn near cuss people out every month. Then the lady got the nerve to say, “It would be annoying if we got you with a late charge every month.” Look here first I have to be late to get a late charge which I am never late. So why call me, “Oh we won’t call if you just go online and set up a future payment.” I know that… Stop calling me!!!

C., Nowhereville, AK

Flagstar 1 Star Review:

I sent in the full payoff provided to me by the payoff department at Flagstar. After about a month, I contacted the bank because I had not received my title. At that time I was told that because I did not send the payoff by certified check that I had to pay an additional $105 in interest and fees. Of course they took the payment that they received on 11/16. When I asked why I should pay the extra fees I was told because their system processes the payment differently. Flagstar received and accepted the full payoff within the payoff period. Because their system processes it incorrectly I am penalized?? That should be illegal!!

Kevin, Vista, CA

Don't Be A 1 Star Review

 

Don't Be A 1 Star Review

 

Flagstar 1 Star Review:

I received a notice that my rent would increase due to my escrow account going up. I explained that I was not able to afford the entire increase and would be $78 short. I was told that was unacceptable and they would not accept my payment. I was then transferred to 3 different people and when asked to speak with a supervisor she was VERY rude and threaten me with a late fee and reporting to the credit bureau. No one tried to help me nor understand my situation this one time. I will be refinancing ASAP and will not refer ANYONE to this company.

Lisa, Dallas, TX

1 Star Situations Happen Every Day

 

ACG 5 Star Reviews

ACG 5 Star Review:

Tried modifying my mortgage loan on my own, twice actually, but no luck. Until I called ACG. [I] got my loan mod approved and all is well.

Michael, Woodland Hills, CA

ACG 5 Star Review:

We were struggling trying to get assistance in keeping our home for over a year when I was introduced to ACG Today both my homes are modified and our family has a chance for a fresh start.

Patricia, Porter Ranch, CA

ACG 5 Star Review:

I have worked with [the] team personally and professionally referring them many clients over the past few years. If you need help with a loan modification, short sale, or want to avoid foreclosure I highly suggest you use Absolute Consultant Group!

Daniel, Santa Clarita, CA

You Can't Chance Being A 1 Star Review.

ACG Specialist Here To Help Your Flagstar Mortgage.

You Know You Can't Chance Being A 1 Star Review.

ACG Specialist Here To Help Your Flagstar Mortgage.

Flagstar Bank Loan Modification Mortgage News

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**We are not affiliated with any mortgage servicer, the investor/beneficiary of your mortgage note, the mortgage insurer (if applicable) or any government agency. The information found on this page is for educational and convenience purposes only. The information...

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**We are not affiliated with any mortgage servicer, the investor/beneficiary of your mortgage note, the mortgage insurer (if applicable) or any government agency. The information found on this page is for educational and convenience purposes only. The information...

read more