Consumer complaint received 2017-01-06
Product: Mortgage — Conventional fixed mortgage
Issue: Application, originator, mortgage broker — 
Company: Flagstar Bank, N.A. (MI)

I, XXXX started a refinance on my existing mortgage with Flagstar Bank on XX/XX/XXXX, on an agreed interest rate of XXXX % this was to combine my existing mortgage of XXXX along with my home equity line held by XXXX bank in the amount of XXXX. Flagstar was the original mortgage holder since I purchased this property in XX/XX/XXXX. I begun to electronically sign all the paperwork with them & XXXX XXXX in their My loans portal for the loan amount of XXXX @ the interest rate as mentioned XXXXXXXXXXXX %. As I was going through the process, I seen XXXX paragraph that stated, was interest rate locked? with a box that simply stated yes or no, & neither box was checked, So I called the loan officer processing ( XXXX ) @ XXXX and asked him about it, he stated that it was standard operating procedure & they would check that box once all the paperwork was complete & guaranteed that I would have that agreed upon rate, By mid XX/XX/XXXX all paperwork was complete & I received a E-mail dated XX/XX/XXXX from Flagstar Bank , Stating Congratulations! Your home loan application has been approved and you will be contacted soon so that we can schedule your closing date. after witch I heard nothing from them. So I began to call XXXX inquiring about a closing date, He texted me back and said that the closing date would be XX/XX/XXXX at my home, On XX/XX/XXXX I called him and left a voice mail asking what time the closing would be the following day, with no response back from him. On XX/XX/XXXX I did n't receive any call & no one showed up. I called him again, left a voice mail, I did n't get a response, so I texted him, asking what happened to the closing, he stated he was in a meeting & that he would call me as soon as he got out of it. When he finally called he stated that the ball was dropped some how, apologized for the mishap, & scheduled the closing for XX/XX/XXXX @ XXXX. On XX/XX/XXXX I called XXXX again just to confirm the closing the following day, he texted me back and simply said NO PROBLEM everything was fine, Now on top of everything else I was getting worried because XXXX instructed me not to make XX/XX/XXXX Mortgage payment, because I would n't have to make the first XXXX payments after closing, For the Months of XX/XX/XXXX & XX/XX/XXXX. So again Nobody showed up & no phone call. So now the finance Dept. started calling & stating that I was past the XXXX day grace period & they were going to add late charges. I finally got in contact with XXXX & again he gave me another XXXX story about their Field underwriter was unavailable to process the closing that day & again I asked him if I should make XX/XX/XXXX Payment & he said No to hold off because we will close before XXXX days, So he then set up another Date to close of XX/XX/XXXX, On XX/XX/XXXX I texted XXXX again to confirm if we were still on for the XX/XX/XXXX closing, & again NO response. So at XXXX ; XXXX on XX/XX/XXXX after No Call & NO Show, I Drove to the branch office on XXXX XXXX. in XXXX and demanded some answers, they claimed to have nothing to do with the Mortgage Dept. and made a phone call to their Corporate offices in XXXX XXXX & was able to get in touch with a ( XXXX XXXX XXXX @ XXXX, who is supposedly XXXX 's boss, XXXX stated that he would look into what was going on with XXXX & would get in touch with the finance Dept. & have the late charges waved, But he then said that I do need to make XX/XX/XXXX Payment, at which point I did. So then on Friday XX/XX/XXXX I received a phone call from an XXXX from Flagstar 's mortgage Dept. stating she was placing the final ( CD ) Closing Disclosure in XXXX portal so that we could allow for the XXXX day cooling off period & then close on the XX/XX/XXXX so when I went into the portal to retrieve the Document & seen that the loan amount was correct at XXXX but now the interest rate was at XXXX %, So I called and spoke with To