Consumer complaint received 2022-12-17
Company: NEW YORK COMMUNITY BANCORP INC
State: KS
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Flood Insurance Issue : I received a letter dated XX/XX/XXXX, on XX/XX/XXXX, from Flagstar Bank as they recently purchased my mortgage. The letter was regarding flood insurance. 

Therefore, on XX/XX/XXXX, I contacted my insurance agent and the XXXX XXXX, and they both stated the XXXX XXXX provides this coverage. I immediately emailed Flagstar Bank on XX/XX/XXXX, at the email address Flagstar Bank provided. I included the letter Flagstar Bank sent as reference and an explanation that the XXXX XXXX provided the policy, and it was provided to the previous mortgage company. Flagstar Bank replied to my email on XXXX the XXXX, XXXX stating Flagstar Bank received my email and the document, and they would get back with me in 5 business days. Flagstar Bank never made any form of contact.

I again emailed Flagstar Bank at the email address Flagstar Bank provided on XX/XX/XXXX, and again attached the letter Flagstar Bank sent me for reference as well as the flood policy declarations page. Flagstar Bank again replied to my email on XXXX the XXXX, XXXX stating Flagstar Bank received my email and the documents, and Flagstar Bank would get back with me in 5 business days. Flagstar Bank never made any form of contact.

I again emailed Flagstar Bank at the email address Flagstar Bank provided on XX/XX/XXXX, stating I had never received any form of contact from either of my emails and attached the two previous emails. On XXXX the XXXX, XXXX Flagstar Bank again replied stating Flagstar Bank received my email and the documents, and Flagstar Bank would get back with me in 5 business days. Flagstar Bank never made any form of contact. 

Today, on the XXXX of XX/XX/XXXX I received a letter dated XX/XX/XXXX, that Flagstar Bank purchased flood insurance on my behalf at a cost of {$6600.00}. Obviously, this is not necessary or required. 

I again emailed Flagstar Bank today XX/XX/XXXX, at the email address Flagstar Bank provided and provided my previous three emails, Flagstar Banks three replies and Flagstar Bank again replied on XX/XX/XXXX, stating Flagstar Bank received my email and documents, and Flagstar Bank would get back with me in 5 business days. 

Except for the Flood Insurance Policy and the {$6600.00} charge Flagstar Bank has never contacted me regarding the above flood insurance issue. 

Condo Owners Insurance Issue : On the XXXX of XX/XX/XXXX, I received an email from my insurance broker stating my homeowners insurance was being canceled due to nonpayment. The same day, XX/XX/XXXX, I informed my insurance broker Flagstar Bank escrowed just as the previous mortgage company did before Flagstar bought my loan. They stated they reached out to Flagstar and Flagstar confirmed they did not escrow. This all the while I am over escrowed about {$7000.00} as I have paid my payment 12 months in advance, through XXXX. After calling and proving to Flagstar Bank they do escrow, they required my insurance company to again provide the invoice. As of the end of business XX/XX/XXXX, the premium for my condo owners insurance has not been paid by Flagstar Bank. 

If not paid on Monday the XXXX, XXXX, I will have to pay it myself directly to my insurance company.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation