Complaint Review: Flagstar Bank - Detroit Michigan

Caitlyn, I found out the hard way too! My situation is a little different, BUT we're dealing with the same corrupt mortgagae lender---the big F. The only way WE'RE GOING TO GET THEM is by sending letters, e-mails, posting messages on the web about the unethical business practices of this corporation. I would send faxes to the Chairman of the Board and the CEO of Flagstar---Oh, by the way their real brothers in the flesh, the Hammond Brothers. I'm sure they'll probably throw them away in the trash, but none the less, let them know you contacting everybody and their mama! This is the only way we're going to get someone to sit up and take notice. Look at the tremendous response from victims of the Ameriquest scam. Flagstar is next and they better get ready because I've already contacted many organizations and I'm putting the word out. I've even contacted and lodged a complaint with a California District Attorney's office who is currently investigating a hugh scam run by two San Jose Brokers who are, as we speak, incarcerated and currently looking at 14-17 years in a state prison for scamming innocent people and........isn't it interesting! they hooked up who know's how any non suspecting, non English-speaking Hispanics to........and the curtain please?....FLAGSTAR MORTGAGE CORPORATION AKA FLAGSTAR BANK! Flagstar has, what you call, absolutely NO customer service according a the dictionary. They don't know what those words mean. This is the most pititful, corrupt, scandlous, shrewd, manipulative, appauling, fraudulent company I have every dealt with. They purposley lie, misconstrue, misrepresent, manipulate the facts. You can shove the truth down their throats with proof in hand i.e. documentation and they still will try to state it was your fault, mistake, etc. They purposely will not correct their mistakes regarding your payments and payment information, and meanwhile, not notify you so as to bide time, then slap the credit bureaus reporting negative information to ruin your credit SO THAT YOU WILL NOT BE ABLE TO QUALITY FOR ANOTHER LOAN in order to hold you captive and ensalved to them. This is highly illegal and discriminatory and it is beyond my comprehension how the these practices are being allowed to continue. People are losing their homes, children and grandparents are being displaced. This is tearing at our very fiber. No one is going to help us but us. LET'S ALL STICK TOGETHER....LOOK AT WHAT HAPPENED TO GOLIETH AKA AMERIQUEST!!!! This happened because the people got sick and tired of the BS tactics. WE NEED TO DO THE VERY SAME THING. HOW ABOUT IT GUYS? ARE YOU IN? IF YOU ARE, CONTACT RIPOFF REBUTTAL OR CONTACT THEIR OFFICES AND LET THEM KNOW. LET SOMEBODY KNOW. We can do it if we stick together.

Again, I say, avoid this bank, and specifically this agent. His response is laughable. His own staff doesn't even agree with his tactics, and say the facts I presented above are his standard procedures. Have we heard from this man, or the company since the incident? No. Not a phone call, letter, email, nothing. "A review of the file occured and the DeAmbra's were notified"? No, we were not notified, by anyone. Let's review: 1. We lied on our application?? First, not only did we NOT lie on our application, but then Michael encouraged us to do so at a later time! Now that I am on social security the payments which we told him we could not afford were the final straw, and we were forced into bankruptcy. Thanks Michael. 2. We were never told we were "not approved". We had already gotten an approval from other lenders. We were looking for a better rate...shopping around as any good consumer should do. Michael told us that he could get us exactly what we asked for. PLEASE NOTE: Never trust anyone without getting it in writing when they tell you they can get you something. I wish I had thought about that then. 3. We would not take calls? Now this is just preposterous! We continually called this man and could not get in touch with him. Now we are getting into bold face lying to cover his mistakes. 4. We sent a very distinct and honest letter to the President, and never got a reply! Michael's staff was VERY sympathetic, and we even wrote in our letter to the President (of which I still have a copy) how great his staff was. So they had no reason to be "devistated". 5. "How could someone make these claims after all of the blood, sweat and tears involved in making this loan close for the borrower?" Now, this is the icing on the cake. This man resorts to drama to make his point. We have talked with so many other lenders, and realize what a mistake we made with this choice of lenders. All in all, I have to laugh at this whole thing. The funniest part is that a few weeks ago we received a standard marketing letter from Mr. Pitts, asking if we wanted to refinance our home with him! We got a great laugh out of this one. Instead of trying to cover your assets, Mr. Pitts, why didn't you try to contact us and rectify the situation when we contacted your President and the file went through "review"? Until last year, I owned my own company. I know about customer service. That does not, Mr. Pitts, include yelling at your clients, lying to your clients, and then trying to make us look like the bad guys. Think, why on earth would I have even written this letter except as a last resort? Why would I just try to bash you for no reason? I have had clients in the photography industry who came to me and said, "Every time I look at this picture that [the other company] took, all I can think of is the horrible experience we had." They don't pay a sitting fee with me. I want them to have the best experience possible. Yes, we are refinancing our home. You can bet we will not be using Flagstar Bank. Every time I think about the loan, I get sick to my stomach. I can't wait to refinance, if for no other reason than to get the bad taste of Michael Pitts out of my mouth. Besides, wouldn't we all rather have a loan that won't be sold...twice? I have found some wonderful companies that have been helpful to us, honest with us (even when it wasn't good news!), and will service our loan themselves. What more could I ask for? Mr. Pitts, take this letter to heart. We came to your honestly, new homeowners...we trusted you. And you did us wrong. Respond if you like, but you know in your heart what really happened. You should have corrected this.

The conversations stated by the borrower are completely false. I met the borrower through an online request. Doug and Caitlyn lied on their application. They would not produce the documentation necessary to validate the application they submitted. I told them on a Friday that they were not approved. I then received a phone from a realtor the following Monday asking for a copy of their approval letter. They had lied to the realtor over the weekend and entered into a contract to purchase a home. My staff and I did our best to help the borrowers. Gaining an acceptance was nearly impossible. I finally found a sub-prime lender that would accept their credit rating and lack of funds and documentation to support their claims. The borrowers lied repeadedly through the process and would not take ot return phone calls from me or my staff when we requested the documentation needed. Finally, a week before closing the borrowers responded. Flagstar Bank did not approve nor fund the loan. The loan was placed with a sub-prime lender. The DeAmbra's complained to the President of my bank. A review of the file occured and the DeAmbra's were notified. My staff was devastated! How could someone make these claims after all of the blood, sweat and tears involved in making this loan close for the borrower? In twenty years of lending, this was the most difficult transaction that I can remember and the only complaint that I have received. The escrow officer and I have worked together for years and continue to work together today. I still receive referrals from the escrow officer. Most of my clients are repeat customers many times over the years. My client's referals are the source of my business. My track record with the sub-prime lender combined with pleading and persistance from my staff and I is the only reason that this loan funded. We rallied behind the DeAmbra's to help them get their first home. The total commission earned on this loan was 1% or less. Far below industry standard for a borrower of this caliber. I am known for my knowledge, integrity and tenacity when representing my clients. The DeAmbra's claim does not surprise me based on the dishonest nature these borrowers. In the case of Doug and Caitlyn DeAmbra, no good deed goes on punished. Thank you, Michael Pitts Flagstar Bank