Consumer complaint received 2022-02-18 00:00:00
Product: Mortgage — Other type of mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: Flagstar Bank, N.A.
State: AZ

Complaint narrative:
I am filing a 2nd complaint to the CFB. First, complaint was XXXX an there has been zero resolution. Unfortunately, the CFB did nothing to assist other than notify Flagstar I complained. The response letter I received from Flagstar was of an upmost joke. The office of presidents XXXX XXXX and XXXX XXXX have been unresponsive to numerous voicemails left asking for there time to discuss. I am now filing a second complaint because Flagstar is withholding an appraisal they received on XX/XX/XXXX. It is now XX/XX/XXXX and I have not received this even though in my contract it states I will receive any appraisal. They are now 4 days past the 72hr received mark. Beyond that there team keeps recirculating the same questions, questioning proof of funds for the initial land purchase when all documentation for there questions have been sent over in XXXX upon initial loan application, again in XXXX, again in early XXXX, again last week, again on XX/XX/XXXX, and again XX/XX/XXXX and as of today they are noting the documentation is not there and wont guide me to what will solve there questions. Beyond that XXXX XXXX who was an escalation POC prior to my first complaint has ignored all lines of communication since XXXX. I have relayed multiple emails, calls, voicemails with zero response. Furthermore, at this point they have shown extreme negligence, false claims, now breach of contract, withholding appraisal which I am beginning to believe they are withholding said appraisal as it came in at a value that was sufficient to fund, but they are trying to manipulate and get the appraiser to change this so they don't have to fund the project. As speaking with my agent she noted the appraiser had spoken with her about details of the build and both had agreed the comps on the appraisal fit the criteria of the build and where great comps. Now notation from Flagstar this morning states The appraiser is doing their due diligence to see if there are going to be enough similar sales available to provide a credible appraisal. There is a very real possibility we may not be able to obtain a credible appraisal on this property, all parties involved need to be aware of that. Thus leading me to believe they are trying to persuade said appraiser to change his original submissions. At the time I spoke with XXXX XXXX when I formally escalated internally to Flagstar I pitched my case and he was able to assist in moving things forward, but in that conversation he did mention grounds for getting a lawyer involved due to the circumstances at that time and that by doing so could give further resolution. Now as this loan progresses more than 3 months since that conversation, I feel the case is getting stronger to the negligence, false claims, now breach of contract, now withholding appraisal, and presumably appraisal fraud that the insertion of a lawyer may be in my best interest since the CFPB escalation path was unsuccessful the first time so I am hoping a second complaint will bring this head ache to a close.

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