Consumer complaint received 2021-01-15
Company: Flagstar Bank, N.A.
State: MA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
1 ) RATE LOCK ISSUE : 2 ) TITLE ISSUE ( 3 weeks ) 3 ) APPRAISAL ISSUE : 4 ) CLOSING FINANCIAL DOCUMENTS 5 ) COMMUNICATION : On XX/XX/XXXX I received a " conditional approval '' to refinance my rental property, Loan # XXXX which, at that time I had agreed to a rate lock of 3.68 % for 1 point. It turned out to be 1.75 points. 
TITLE ISSUE : For 3 consecutive weeks of requesting an update from XXXX XXXX ( processer ) she told me that they were still working on a title issue for my " primary '' home and that if she can not get what she is seeking ( discharge documents ), that I would have to contact all banks involved from XXXX through XXXX. I advised her and the loan officer ( XXXX XXXX ) from the beginning that my present mortgage is the " same '' mortgage obtained in XXXX but continued to search for " discharge documents. I went on line an created links for all the transactions of my mortgage being " transferred/assigned '' to end the title issued that they had. XXXX acknowledged that the title issue has been solved. 
APPRAISAL ISSUE : was performed in XXXX with many issues, thus, I replied to both on XX/XX/XXXX that this appraisal was absurd. Without any communication, Flagstar continued sending e-sign documents which the " view '' link never worked, thus, to see the document I had to use the e-sign link. I made another request to discuss the appraisal. I was contacted by XXXX, went through all the details of the appraisal and revised closing loan loan document. XXXX stated that he would send my complaints ( exclude the appraisal ) to " someone to review '' Additionally XXXX suggested, concerning the appraisal, that he did not escalate the appraisal and I would need to get everything together in order to submit my appraisal complaint. two options for me to choose, which included to enlist an Real Estate agent for new comparisons. Meanwhile I received a revised closing document which, as the result of the appraisal required me to bring {$4500.00} to the closing which I rejected. I asked what would be the additional amount of the mortgage payment if I decided to used the " regular offered interest rate? He did the calculations while on the phone and stated an estimated {$100.00} extra. At this point I made it clear that i no longer wanted the discounted rate and accepted the 4.89 % rate due to the thousands $ $ required at closing. Another revised closing cost received with the new 4.89 % rate which only reduced the bottom line from {$4500.00} to {$3800.00}. At this point, I proceeded with the XXXXwo options given to deal with a Real Estate Agent. Meanwhile, I requested an inspection of my property from the Accessors office which was performed in XXXX, thus, having several changes, including having " energy efficient items and major " improvements '' both of which the appraisal stated, " none noticed '' Additionally, I had a appraiser review my appraisal and pointed out credits that I should have and did not receive. I received an APO ( agent opinion ) in writing in XXXX and began to request communication from the loan officer and processor which were ignored to the point that the APO became more than 30 days old, thus, I had to get another APO ( $ XXXX {$250000.00} ) on XX/XX/XXXX and again requested communication which was not received. The only communication received was revised closing documents to e-sign and a letter stating that a " second '' rate lock " which I did not request was due to expire. I responded on XX/XX/XXXX to this 2nd rate lock statement stating that " I did not request, nor did you reach out to me to obtain a rate lock, having no response to this letter as well. I have spent many weeks requesting communication and all I get is " revised e-sign '' documents and request of " proof '' that I have withdrawn from my investment account {$3500.00} to bring to the closing, despite the fact that I informed them that this appraisal was unacceptable to me and needed a new one at their cost. The clock is ticking for the 2nd APO to expire. 

Thank you

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