Flagstar Federal Savings Bank is among the biggest home loans originators in United States. It has managed around 402,000 mortgage borrowers in all states.
People who are unfamiliar with the company’s mortgage system or simply do not know much about mortgage proceeding may be looking for information to enhance their decisions. Flagstar mortgage reviews can be found from numerous sources to improve new customers’ understandings.
Reviews on Flagstar Mortgage Services
The company has been around for years as mortgage loan provider and has perfected their craft. It offers diverse types of mortgages to fit customers’ profiles, such as fixed and adjustable rate loans, government supported loans, specialty loans, and loans for construction and renovation purposes.
Similar to other mortgage companies, Flagstar mortgage reviews are very varied. There are favorable reviews, but there are also some cases where customers are left unsatisfied with the experience.
Technology adoption is probably one of the Flagstar strongest points. Customers can apply for mortgages through its website. They are only required to fill in primary information such as mortgage purpose (for purchasing or refinancing), type of loan, loan amount, down payment, and contact information.
The company also provides platform for online document uploading, loan operation tracking, and digital signature. It also has its own mobile banking application to allow easy access by customers. Flagstar mortgage reviews in regard to the company’s digital technology are usually positive.
Another plus point of the company is the availability of various government supported loans. It partners with governmental organizations like Federal Housing Administration and United States Department of Agricultural to provide affordable housings for families all over the country.
These programs allow people with low income background chance to have their own houses. Some Flagstar mortgage reviews also praised its home equity loans and credit offerings.
Flagstar mortgage reviews regarding the company’s customer service are very varied. Some customers reported immense satisfaction toward its service. They stated that Flagstar loan officers are very helpful and resourceful when guiding customers through loan proceedings.
Other customers think the other way. Some said that they could not get consistent answers from officers at the company about issues with their mortgages. Others stated that the company did not provide them sufficient information about loan process, often resulted in penalties on customers’ side.
The most common complaints found in Flagstar mortgage reviews are billing and payment collection issues. Although the payment process can be digitalized, the lack of precise information as mentioned above may create issues.
Some customers stated that the company does not communicate deadlines until close to the due dates and made them missing payments. The company has not been receiving stellar rating in customer service; however its rating is continuously increasing by year. It plans to keep developing its customer care and one of the ways is to improve digital loan and banking services.
Choosing the right mortgage loan provider can be an intimidating task. It is better to obtain as much information as possible before making a choice.
Potential mortgagors need to analyze Flagstar mortgage reviews beforehand if they want to use the company’s service. It is to ensure that they are getting the best experiences while dealing with mortgages.