Flagstar Bank Mortgage Servicing
Flagstar Bank is a regional bank headquartered in Hicksville, New York, with a significant national mortgage servicing portfolio. Acquired by New York Community Bancorp in 2022, Flagstar's servicing p…
Portfolio Size
$100+ billion servicing portfolio
Customer Service
800-945-7700
Loss Mitigation
800-393-4887
Website
Flagstar Bank.comLoss Mitigation Programs
Flagstar Bank offers the following loss mitigation programs. Availability depends on your loan type (FHA, VA, USDA, GSE conventional) and investor guidelines. Not all programs are available for all loans.
Servicing Practices
- Bank-based servicing with FDIC-insured depository backing
- Regional concentration in Northeast and Midwest markets
- In-house loss mitigation and default management
- Online banking and mortgage portal (Flagstar Online)
- Escrow administration and tax service integration
- Foreclosure management through attorney networks
Foreclosure Timeline
Flagstar follows standard federal and GSE servicing timelines: foreclosure referral at 120+ days delinquency. In non-judicial states, Flagstar foreclosures typically complete in 120-180 days from referral. In judicial states, timelines vary significantly. Flagstar's 2024 financial restructuring has introduced some operational uncertainty — borrowers should verify that loss mitigation applications are being processed normally during any corporate transitions.
Consumer Complaint Patterns
CFPB complaint data for Flagstar includes: loan modification application delays, escrow account miscalculations, payment processing errors, and difficulty reaching loss mitigation personnel. Complaint volume is moderate relative to Flagstar's portfolio size, consistent with a mid-sized regional bank servicer.
Regulatory Actions & Enforcement
Flagstar has been subject to CFPB supervisory examinations related to servicing practices. Flagstar was part of the National Mortgage Settlement and settled with the CFPB in 2014 related to loan modification and foreclosure practices. More recent CFPB activity has focused on fair lending examinations.
Homeowner Tips for Working with Flagstar Bank
1. Flagstar's specialized loss mitigation line (800-393-4887) provides better service than the general customer service number. 2. Flagstar's 2024 corporate restructuring may mean some operational changes — verify that application deadlines and processing timelines haven't changed. 3. For FHA and VA loans, Flagstar must follow all applicable loss mitigation waterfalls — reference the specific HUD Mortgagee Letter or VA Circular. 4. Flagstar is a portfolio lender in addition to servicing GSE/government loans — if Flagstar originated and holds your loan, they may have more flexibility on modification terms than a GSE-only servicer.
How Professional Law Assist Helps with Flagstar Bank Foreclosures
We assist Flagstar borrowers by ensuring proper processing of loss mitigation applications, identifying RESPA and TILA violations, and navigating any corporate restructuring impacts on servicing. Flagstar's status as both a bank and a significant servicer means both OCC and CFPB regulations apply — we enforce both.
Get a Free Case Review →Frequently Asked Questions — Flagstar Bank
Does Flagstar's financial restructuring affect my mortgage?▼
Is Flagstar the same as NYCB?▼
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