Consumer complaint received 2018-01-04
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Struggling to pay mortgage — 
Company: Flagstar Bank, National Association (OH)

I have an existing home equity loan XXXX that originated and was serviced by NYCB up until XX/XX/XXXX. NYCB had taken action to call the Note and I submitted a loss mitigation application dated XX/XX/XXXX and was in constant communication with, and provided prompt responses to every request for every additional information necessary for the loss mitigation evaluation. I continued submitting timely monthly payments as was my pattern as my loan had never missed a payment during my loan history and continued until NYCB returned my payment made on XX/XX/XXXX, which the modification person I was in communication with ( XXXX XXXX, NYCB ) at the time, had advised me would happen because such are the terms of calling the Note, and nothing but the full balance would be accepted ( as also stated in NYCB letter dated XX/XX/XXXX ). I continued to remain in constant contact and requested weekly updates and from the submission of my loss mitigation application and was told there would be no credit reporting on my loan until the bank had reached a loss mitigation decision and then the loan would report as modified and other such relevant credit status. XXXX XXXX. ( @ NYCB, Tel # XXXX ) was made my single point of contact and in a phone call on XX/XX/XXXX at approx XXXX she advised that NYCB is developing a specific loss mitigation option for heloc loss mitt applications which would include converting the loan to a fixed term with the interest rate that was in effect as of the date of the loss mitt application. The loan we subsequently served transferred to XXXX XXXX XXXX ( XXXX ) XXXX/XXXX/XXXX, loan XXXX. They reported the loan as 166 days delinquent in XX/XX/XXXX and have said they have no information forwarded from NYCB that stated that as a condition of the loss mitigation that they would not report the loan as delinquent, pending the approval and acceptance of a loss mitigation option. I have contacted both NYCB and XXXX to have the credit reporting rectified as XXXX says they will honor the terms of the NYCB loss mitigation as they were disclosed to me, namely that that the loan would not be reported delinquent following approval and acceptance of the the loss mitt option. XXXX has approved me for a loss mitigation option with the terms that acceptance is dependent on making timely payments starting XX/XX/XXXX. I made my first payment onXX/XX/XXXXXXXX but XXXX had already proceeded to report my loan delinquent which was contrary to the loss mitigation condition that was disclosed by NYCB. I had reached out to both organizations and in doing so was told by XXXX that the loan set to again service transferred and the name of new servicer will be disclosed shortly in a letter. I find that this is both unfair and deceptive to me and as a consumer caught in the ferris wheel of servicing transfers where I start loss mitigation action with one lender and those terms and conditions are either not disclosed to or honored by the other lender as concluded from NYCB notice of servicing transfer letter dated XX/XX/XXXX, that states that other than a new servicer nothing else about your mortgage loan will change which I understand to include my loss mitt conditions. I look to the CFPB for help is correcting this issue because as a sole consumer my request to both NYCB and XXXX, and possibility more subsequent servicers to follow will not be attended to and corrected.