Consumer complaint received 2021-01-11
Company: Flagstar Bank, N.A.
State: SC
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Loan was purchased by Flagstar Bank effective XX/XX/XXXX. Flagstar was quick to send a letter outlining all of the " New '' fee they charge that are not part of the original contract, the letter also explained that automatic payments from the previous servicer would stop and it would need to be set back up with them. 
Upon attempting to navigate their quite confusing website for over an hour, I finally reached the area to set up the automatic payments only to get a pop up that stated the automatic payment process could not be set up until after the next billing cycle. 
I had to call in to make the first payment, this was on XX/XX/XXXX. 
On XX/XX/XXXX I went back to the website to once again attempt to set up the automatic payment and received the same message that I had to wait until the next billing cycle. 
I phoned Flagstar and was given every reason in the world as to what I was doing wrong, one of which was that I may not have enough money in my account to make the payment. Finally in mid XXXX I was able to get the automatic payments set up. 
After setting it up I was looking around at the account services and noticed that the payment I had made on XXXX didnt actually post to my account until XXXX, once again I'm back on the phone with Flagstar, I questioned the interest they charged due to an obvious posting issue on their end, the funds where clearly removed from my account 2 weeks prior, I was told they would send the request to a different department and they would get back to me with a resolution. 
Two weeks later I received a call and was told not to worry as interest is charged in the rears and the posting date would not change anything, no matter what I said there was no changing this. It is my position that they clearly charged excess interest, weather it was charged in XXXX or XXXX there was surely a charge. 
I have no proof of being charged or not being charged as this bring us to the next issue. 
Since Flagstar purchased this loan I have yet to receive ANY statements or notification that they will be or have drafted the payment from my account. 
On XX/XX/XXXX I phoned again and put them on notice that they are in violation of the Dodd-Frank rule and they must fi the issue immediately, the representative put me on a long hold and said although I was supposed to get the statements/notifications it was in a " blocked '' status on their end and she corrected that and everything should be good going forward. 
XX/XX/XXXX comes and goes and I still have yet to receive any notifications or statements. 
Today XX/XX/XXXX I once again call Flagstar and Now I'm told that the system states I should get a text message concerning the auto draft and statements by mail and their system is showing all of that was completed as required. 
The rep verified all of the information ( none of which has changed in over 10 years ) and they have all the correct information, she then states that it a USPS problem and most likely a cell phone carrier issue also, basically the same old, same old, it's everyone else 's problem and they are right. 
This bank has had continued complaint for refusing to follow the Laws/Rules and Regulations of their industry, the fines they have received have done nothing to make them act as a responsible business should and they should have their charter removed immediatly.

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