Consumer complaint received 2023-12-09
Company: NEW YORK COMMUNITY BANCORP INC
State: LA
Product: Mortgage
Sub-product: FHA mortgage
Issue: Struggling to pay mortgage
Sub-issue: Applying for or obtaining a modification, forbearance plan, short sale, or deed-in-lieu

Complaint:
I am formally submitting a complaint against Flagstar Bank regarding their mishandling of my requested forbearance and loss mitigation application, as well as the looming threat of foreclosure on my property. Despite my earnest efforts to provide the necessary documents, Flagstar Bank consistently asserted non-receipt, resulting in a severe financial crisis and the imminent risk of losing my home. Today, a representative arrived at my residence, expressing the need to capture images of my property. Additionally, I have encountered repeated instances of disconnection by Flagstar representatives, having been left on hold for over 20 minutes on at least five occasions. Today I called and was " disconnected '' after about 45 minutes. Despite assurances from three separate Flagstar representatives that I would receive a call back " same time tomorrow, '' I have yet to receive any follow-up communication. 

Despite my efforts, Flagstar Bank consistently claimed not to have received my documents. I have a comprehensive record of submission. Their refusal to acknowledge receipt of the documents left me in a state of uncertainty and frustration. I have even motorized a loan modification and paid all my trial payments on time and then to received letters that I was delinquent on my mortgage. 

I have owned homes for over 25 years and I have NEVER been treated so poorly. Here is a summary of my hardship letter. Please someone help me so I am not in CONSTANT fear of losing my home. I write checks every month over my mortage amount just to be safe. I am at a complete and total loss as to what to do. I tried to get someone to speak with me to tell me how to resolve this and I get transferred or hung up on. I want to resolve this now. 

LOAN # XXXX XXXX XXXX XXXX XXXX, XXXX LA XXXX I hope this letter finds you well. I am writing to inform you of my current financial situation, which was temporarily impacted by the COVID-19 pandemic. My husband and I both suffered a severe business loss as XXXX  XXXX  and XXXX XXXX  individuals. 
Due to the unforeseen circumstances brought about by the pandemic, we both experienced a substantial reduction in business income. We requested a mortgage forbearance for 3 months in XXXX. 
During that time we were able to get back on our feed and our income resumed and we were able to make our mortgage payments. We were put on a trial plan where we had to make payments on time by calling the mortgage company and paying on time. We made all three of those payments on time and therefore we got a letter saying we were getting a loan modification. 
I was out of the country for 2 weeks and therefore missed the loan modification paperwork. I called and I got a new packet in the mail which we submitted, signed and had notarized and sent back per request. 
After that I have no idea what happened. I made dozens of calls to Flagstar Bank where I was told that my application was cancelled. Never a reason why. The entire time I paid a monthly payment ( which I can attach to this letter ). I was petrified of getting behind but every time I called Flagstar I was on the phone for hours and got different responses from the agents. As a working mom of XXXX kids this became almost impossible to resolve. The last call I had was from a woman who said I will call you back tomorrow so we can get you on a deferral program. You do not need to fill out loss mitigation application. I waited for a call and I never got one. I called back and a woman said I will send an email requesting a deferral for your missed payments. I asked when I would hear back and she said I would get a letter. I never got a letter about this. 
I understand the importance of fulfilling my financial responsibilities and we are capable of paying our mortgage at this time and have been for months. I am completely confused as to how to get back on track and how we got so far behind when I was paying every month. 
We are requesting that the amount due is reconsidered and can be added to the end of our mortgage OR come up with a repayment plan that is feasible. We can not pay the amount due which is over {$30000.00} but we can pay an additional each month if needed. 
Thank you for taking the time to review my letter. I genuinely appreciate your understanding and consideration during these challenging times of confusion. We want to stay in our home and will do whatever it takes. 


We appreciate your help, XXXX and XXXX XXXX Its quite frustrating to have to call and be placed on hold for long periods of time. And to listen to a recording that states that if you have a loss mitigation application in process, it could take up to 30 days for review and I did not need to wait on hold to speak to someone because Flagstar Bank would contact me if anything additional was needed. Its also frustrating to have to chase a phantom representative that cant be found and supposed notations of the previous call that were supposed to be entered in the system for the next representative to see and pick up where the last call was left off arent there. I have made every effort to resolve this matter directly with Flagstar Bank, but the many different explanations, excuses and lack of accountability has left me with no other option but to seek assistance from the Consumer Financial Protection Bureau. Please help. We are good people with a family and we need to get this taken care of but we feel completely lost and hopeless.

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