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Loan Servicing FAQs

General questions

Please review Flagstar's Mortgage Statement Guide.

The bill payment service withdraws the amount due from your account and sends a check to Flagstar. This process may take approximately two weeks before the check posts to your account.

Payments without a mortgage coupon should be mailed to:

Flagstar, P.O. Box 660263

Dallas, TX 75266-0263

 

*Please include your loan number on the check

The transfer and sale of mortgages is common in the mortgage industry. It fulfills the need of investors and makes funds available for other homebuyers.

The Secure and Fair Enforcement for Mortgage Licensing Act of 2008, known as the SAFE Act, is a federal law designed to protect consumers and reduce fraud. The law requires every mortgage loan originator (MLO) to be registered in the Nationwide Mortgage Licensing System and Registry (NMLSR). Each registered MLO receives a unique ID number that never changes, even if the individual changes employers. This NMLSR ID makes it easier for consumers to find information on their MLOs.

An amortization schedule can be prepared that includes an additional $100 (or any other amount that you choose) to the monthly principal and interest payment.

 

If you would like a copy of the amortization schedule, please send us a written request (along with a $10 fee). The request should include your loan number, phone number, and the amount of additional principal to be paid each month.

 

Please send your check (made out to Flagstar) and request to:

Flagstar 

Customer Service Research Department

5151 Corporate Drive, E-115-3

Troy, MI 48098

Yes. As long as your attorney follows the procedures in the Office of Thrift Supervision Regulations (found at 12 C.F.R. 591 et seq).

 

It must be a revocable living trust, the property must be owner-occupied, and borrowers must be the beneficiary. Not meeting these requirements could cause the "due on sale" option to be exercised. Once the property is transferred into a revocable living trust, please fax to (888) 848-1071 or mail a copy of the

Certificate of Trust and the Recorded Deed to:

Flagstar 

Research Department

5151 Corporate Drive, E-115-3

Troy, MI 48098

You will need to refinance your mortgage. To speak with a Flagstar loan advisor about your refinance options, please call 877-374-3562.

Your mortgage will be reported as delinquent any time a payment is made after the last business day of the month before the next payment due date. It is possible that an error occurred with the processing of your payment. For example, the payment could have been misapplied, or it might have been sent to the originating lender and not provided to Flagstar in a timely manner.

 

Customer Service will complete a credit correction if the payment was determined to be on time. If you believe that your payment should not have been reported as delinquent, please complete the Credit Reporting Review Request Form. If you have any further questions, please call Customer Service at 800-968-7700.

We order inspections to ensure the property is still occupied if the mortgage payment has not posted by the last business day of the month before the next payment due date.

 

The mortgage deed included in your closing package has a paragraph titled preservation of property, which states that any associated costs are to be paid by the borrower.

Various criteria must be met to qualify for a loan modification. To learn about your options, please call a loss mitigation representative at 800-393-4887.

If the loan has a prepayment penalty, it will be indicated on the Truth-in-Lending and the addendum to the note. These documents are part of your closing package.

Please review Flagstar's Servicing Fee Schedule.

Please review Flagstar's Privacy Notice.

You can find a list of REO properties for sale at flagstar.com/reo.

MyLoans®

MyLoans is a simple way for you to manage your loan online. It’s free, easy to use, and available 24/7. With MyLoans, you can:

  • Pay your loan online for free and take the hassle and expense out of writing and mailing checks. 
  • View your loan balance, interest rate, and payment due date. 
  • View your year-to-date interest and year-to-date taxes. 
  • Instantly access your monthly statements online. 
  • View yearly 1098 tax statements online to make tax time simpler.
  • Manage notifications about activity on your loan, such as taxes and insurance.

It takes just a few minutes to set up your account. Before you begin, make sure you have your Social Security or tax ID number, your loan number or property address, and access to your email or mobile phone. 

 

Visit  flagstar.com/myloans then select Sign up for MyLoans. 

Fill out the form and create a username and a strong password. 

We’ll send an activation code to your email or mobile phone, whichever you prefer. 

Once you enter the activation code, you can log in to view your account. 

 

Please note: MyLoans is not currently available in the Flagstar Mobile app. You can use a web browser on your mobile device to access your MyLoans account anytime at flagstar.com/myloans

Use a web browser on your phone or computer to visit flagstar.com/myloans. Then log in with the username and password you chose when you set up your MyLoans account. 

 

Please note: MyLoans is not currently available in the Flagstar Mobile app. 

MyLoans is not currently available in the Flagstar Mobile app. You can use the web browser on your phone or computer to access your account anytime at flagstar.com/myloans

 

If you have a checking, savings, or other deposit account with us, download Flagstar Mobile from the App Store or Google Play to do your banking anytime, anywhere.

To access your loan information online, please sign up for MyLoans.

 

If your loan recently closed, it can take up to four weeks for your information to become available in MyLoans. If it has been longer than four weeks since your closing date, please call Customer Service at 888-248-6423 for assistance.

Visit our MyLoans webpage and select 'Forgot your MyLoans username or password?'

 

You can also call our Customer Service Department at 888-248-6423.

Once you log into MyLoans, navigate to My Profile then to Manage Bank Accounts. You can add, change, or delete bank accounts and change AutoPay settings.

Payments in MyLoans®

To make a one-time payment in MyLoans, visit the Account Summary page then select Make a Payment. Then follow these steps:

 

  1. Choose a payment option, how much you’d like to pay, the date you’d like to pay it, and the bank account, then select Continue.
  2. Review your payment details. If you like what you see, great! After viewing the payment terms and conditions, check the box indicating that you have read and understood the terms for making the payment, and then select Submit. If you want to change something, select Edit next to the Payment Information. 
  3. View your payment confirmation. You’re good to go! 

Yes. To set up monthly automatic payments in MyLoans, navigate to Payments and then to Enroll in AutoPay. Then follow these steps:  

 

  1. Choose your payment frequency, payment date, any additional payment amounts, and the bank account, then select Continue. 
  2. Review your payment details. If you like what you see, great! After viewing the payment terms and conditions, check the box indicating that you have read and understood the terms for making the payment, and then select Submit. If you want to change something, select Edit next to the Payment Information. 
  3. View your payment confirmation. Your AutoPay payment will be scheduled as you indicated. You may edit your AutoPay settings at any time by selecting Manage AutoPay from the Payments menu.

 

You can make additional principal payments as part of your regular payment, or once your payment has been made, can make principal only payments up to $30,000. Principal only payments are limited to one transaction per day and are non-refundable.

Yes. Follow these steps to stop a duplicate payment on the scheduled date, up to 7 p.m. ET.

 

1. Log into MyLoans and navigate to Payments.

2. Select Scheduled Payments.

3. Look under One-time payments for payments that are in process.

4. Find the payment you want to cancel. On the far-right side of the payment line, select Cancel to stop the payment.

5. Review and confirm your changes.

Loan payoff

You may order a payoff in one of three ways:

By logging onto MyLoans

By calling our automated system at 800-968-7700

By visiting a Flagstar branch

 

Payoffs can be mailed to the address listed in our system at no charge.

 

Payoffs can be expedited and sent via fax or email. Fees incurred for an expedited payoff are as follows:

$0 for loans in New Jersey

$5 for FHA loans

$30 for all non-FHA loans

 

Representatives, such as mortgage companies and title companies, may order a payoff on your behalf provided you have granted them authorization.

 

Payoffs may incur a recording fee. This fee satisfies the cost of recording a mortgage discharge with your county.

A mortgage discharge will be prepared and mailed, or electronically delivered, to your county for recording within 30-90 days of the paid in full date. The original, recorded discharge will be sent to the mailing address on record at the time of payoff. To request a copy of your mortgage discharge or a paid in full letter, please call our Customer Service Department at 800-968-7700. Representatives are available Monday-Friday, 7:30 a.m. - 8 p.m. and Saturday, 7:30 a.m. - 4 p.m. ET.

A lien termination statement and/or original certificate of title will be mailed within 21-30 days of the paid in full date. If you are in possession of the original certificate of title, it may be taken to any Flagstar branch for release after 21 days of the paid in full date. To update your mailing address, please call our Customer Service Department at 800-968-7700. Representatives are available Monday-Friday, 7:30 a.m. - 8 p.m. and Saturday, 7:30 a.m. - 4 p.m. ET.

Payoff overpayments and/or escrow refunds will be mailed within 20 business days of the paid in full date. To update your mailing address, please call our Customer Service Department at 800-968-7700. Representatives are available Monday-Friday, 7:30 a.m. - 8 p.m. and Saturday, 7:30 a.m. - 4 p.m. ET. In the event of divorce, the refund will not be reissued in only one borrower's name. Both borrowers should endorse the check and disburse the proceeds according to their separation agreement. In the event of death, where there are two borrowers and only one is deceased, the surviving borrower should present the check and death certificate of the deceased borrower to their financial institution for payment. In the event of death, where there is only one borrower or two borrowers but they are both deceased, the successor-in-interest may request the refund be reissued in their name by faxing their request to 866-580-4755. The request must include the successor-in-interests contact information, copy of the borrower(s) death certificate(s) and Will, Administration, Testament and/or other legal documentation.

Taxes

If your tax office has approved a Homestead Exemption, they will send you an approval letter with the new tax amount and effective date. Please submit the letter to the address below so we can adjust the amount and, if the difference is greater than $250, perform an escrow analysis. Check MyLoans for updates to your account.

 

Flagstar

Tax Department

5151 Corporate Drive, E-166-3

Troy, MI 48098-2639

Fax: 888-705-1657

The type of tax bill you receive determines whether you need to forward that bill to us. You should only fax or mail your delinquent tax bill.

 

Supplemental tax bills are not paid by Flagstar. These will not be disbursed from the escrow account and are your responsibility to pay. 

 

Please mail or fax your delinquent tax bill with reference to your loan number to:

 

Flagstar

Tax Department

5151 Corporate Drive, E-166-3

Troy, MI 48098-2639

Fax: 888-705-1657

Fax or mail the updated tax documentation, including the new tax amount, effective date, and loan number, to Flagstar's Tax Department.

 

Flagstar

Tax Department

5151 Corporate Drive, E-166-3

Troy, MI 48098-2639

Fax: 888-705-1657

Please call Customer Service at 800-968-7700.

Escrow

As a homeowner, you pay property tax to your local government and buy property insurance to protect your home. Flagstar makes paying for both easy by rolling these amounts into your monthly mortgage loan payment. An escrow account holds these funds until it’s time to pay your property tax bill or your property insurance premium, which we do on your behalf. At least once every year, Flagstar performs an escrow analysis on your accounts, which you can read about in the next FAQ. 

An escrow analysis is a review of your escrow accounts to determine if the current monthly escrow payment is enough to pay taxes, insurance, and other bills when due. 

 

Flagstar typically analyzes your escrow account on your local property tax payment cycle. Occasionally, we run additional analyses if, for example, the escrow account reaches a negative balance. An analysis may reveal there are sufficient funds in the account, or it may reveal a surplus or shortage that may impact your monthly payment amount. We will issue an escrow analysis statement upon completion to notify you of the outcome of the analysis.

It depends on the type of mortgage you have. Loans that are backed by the Federal Housing Administration (FHA), Guaranteed Rural Housing (GRH), or Veteran Affairs (VA) require borrowers to have an escrow account.

 

Other loans, such as conventional mortgages, allow borrowers to waive the escrow account under certain conditions:

  • The loan-to-value ratio of the loan must be 80% or less.
  • No payment in the last 12 months is more than 30 days late.
  • The loan is not in foreclosure, bankruptcy, or loss mitigation.

Your specific loan may include additional conditions and requirements. If your property is located in an area designated as a Special Flood Hazard Area, you may be able to waive all escrows except flood insurance.

 

Flagstar charges 0.25% of the current principal balance or $150, whichever is greater, for the escrow waiver, unless prohibited by state law.

 

To request an escrow waiver, download the Escrow Waiver Request form from the Loan Forms page on flagstar.com, complete it, and fax or mail it as directed. 

Yes. Simply fill out the Escrow Account Set Up Request Form. Please include all required documentation when sending your request and fax or mail the request as directed.

Your monthly loan payment may include funds to pay for property tax and homeowners insurance, which Flagstar does on your behalf. If the amount due for either of these bills increases or decreases, your monthly mortgage payment will reflect the change.

 

At least once a year, Flagstar performs an escrow analysis on your loan and sends a copy to your home or posts it in MyLoans. Please refer to your escrow analysis for information about the new payment amount.  

There are several reasons an escrow shortage can occur. The most common is that the amount you pay for property tax or homeowners insurance has increased. Other reasons include the underestimation of a tax assessment on a new construction loan, an unanticipated supplemental tax bill, and force placed taxes or insurance.

 

Your local tax authority or insurance agent can answer specific questions about the change.

 

To pay the escrow shortage amount, visit MyLoans.

The most common reason for an escrow surplus is a decrease in the cost of your property tax or homeowners insurance. A surplus can also occur if too much was collected for escrow last year or at the loan closing.  

 

It is possible to have a surplus even if tax and insurance amounts have increased over the past year. When this occurs, we may increase the monthly escrow payment to ensure there are enough funds to pay the higher costs when due.

Flagstar refunds escrow surpluses to the borrowers. Borrowers may cash their surplus check and use the funds in any manner they choose, including applying it to their loan.

 

Note: If there is a minor surplus, we use the funds to reduce your monthly payment instead of issuing a refund. The surplus is divided by the number of months starting with the new payment due date and ending after the low point month in the escrow account. The new escrow payment is reduced for this number of payments. Please refer to your Escrow Analysis to determine if the surplus was retained in your escrow account.

If your loan is current and your escrow analysis is completed as part of the regular annual review cycle, your surplus check will be attached to your Escrow Statement. If your escrow analysis was completed outside of the regular annual review cycle, the surplus check will be mailed 7-10 business days from when it was processed.

 

If your loan is past due, a surplus refund check will be disbursed when your loan is current.

 

If you are in bankruptcy and your account is contractually current, your refund check will be mailed separately 7-10 days from when it was processed. However, if your account is past due, your escrow surplus check will be disbursed when your account is current.

Please contact the Customer Service Department so we can place a stop payment on the check and reissue one to you.

Fax, email, or mail a signed letter to us confirming the repairs are complete and that you are satisfied with the work. Be sure to include any outstanding invoices and/or paid receipts for the repairs. Once we receive this information, we will order an inspection.

 

Fax: 888-342-1637

Email: [email protected]

 

Postal mail:

Flagstar 

Construction Department

5151 Corporate Drive

Troy, MI 48098

The inspection fee comes from the funds we are holding for the repairs, unless extra funds have been set aside for the inspection. You may be required to pay the inspector when they arrive to perform the inspection.

Insurance

Please call Customer Service 833-811-3061, Monday-Friday 7:30 a.m.-8 p.m. ET and Saturday 8 a.m.-3 p.m. ET or visit mycoverageinfo.com/flagstar.

Please call our Insurance Department at 833-811-3061 to discuss your insurance or determine why you are receiving notices from your insurance company. Representatives are available Monday-Friday 7:30 a.m.-8 p.m. ET and Saturday 8 a.m.-3 p.m. ET.

Please make sure that Flagstar is listed as the first mortgagee (or second if Flagstar holds your second mortgage on the policy) and submit the documentation in one of the following ways.]

 

Upload to:

mycoverageinfo.com/flagstar

 

Mail to:

Flagstar 

ISAOA ATIMA

P.O. Box 7646

Springfield, OH 45501-7646

 

Fax to:

(888) 882-1859

 

For additional assistance, please call our Insurance Department at 833-811-3061. Representatives are available Monday-Friday 7:30 a.m.-8 p.m. ET and Saturday 8 a.m.-3 p.m. ET.

You will need to file an insurance claim with your insurance carrier directly. For additional assistance, please visit mycoverageinfo.com/flagstar, or call our Insurance Department at (833) 806-2525. Representatives are available Monday-Friday 7:30 a.m.-8 p.m. ET and Saturday 8 a.m.-3 p.m. ET.

Please visit our website or contact us at insuranceclaimcheck.com/flagstar or 833-806-2525, Monday-Friday 7:30 a.m.-8 p.m. ET and Saturday 8 a.m.-3 p.m. ET.

PMI

Borrowers whose down payment is less than 20% of the home's value at the time of home purchase or refinance will be required to pay private mortgage insurance (PMI) as part of their mortgage payment. PMI protects lenders in cases of borrowers defaulting on a loan and would have been disclosed to you at your loan's closing in a document called Notice Concerning Private Mortgage Insurance. If you have questions about your PMI, please be sure to check your statement or payment history, which you can find in MyLoans.

For Single Family Primary residences or second homes, PMI will automatically terminate after the payment is made for the month the loan is first scheduled to reach 78% LTV based on the initial amortization schedule.

 

If your loan payments are not current, PMI will automatically terminate on the first day of the first month after the date it becomes current.

 

Flagstar will notify you when PMI coverage is automatically terminated.

To find your loan to value (LTV) ratio, divide your current principal balance by the lesser of the original appraisal amount of your home or the purchase price.

 

New York does not use purchase price for LTV, so use the appraisal value if you live in this state. 

Yes, however, you must first request PMI removal using one of the methods listed on this form and receive approval from us to obtain a property valuation.

We’ll notify you in writing that PMI coverage is being removed and the effective date of the cancellation along with your new monthly payment amount.

A principal balance reduction is the application of a large sum of money toward the principal balance of the mortgage.

Improvements that increase value are typically renovations that substantially improve marketability and extend the useful life of the property (e.g. kitchen and bathroom renovations and/or the addition of square footage). Repairs that are made to keep the property maintained and fully functional are not considered improvements. The property improvements must conform to local zoning and building codes as applicable.

An increase in property value as a result of the local real estate market and any non-substantial improvements to the home.

IRS Form 1098

The 1098 statement details all interest, taxes, and insurance paid on a mortgage for a given year. Flagstar mails Form 1098 statements by January 31 every year.

"Minus escrow disbursed" could refer to one of the following: monthly private mortgage insurance (PMI) payments, escrow overage disbursements, or other miscellaneous disbursements such as a fax fee or an inspection fee.

Your 1098 may show that no taxes were disbursed for one of the following reasons: the taxes were paid at closing, the taxes were not paid from the escrow account in the year the 1098 is reporting on, or the loan was paid off before the taxes were due.

Only 13 months of interest can be claimed in any given year, January through January. Sometimes a borrower will have made their January payment in December of the previous year. The January payment includes December’s interest, so you can claim it on your taxes as appropriate.

Special loans

If your loan includes a rate change, we’ll notify you about the new interest rate and payment amount approximately 30 to 45 days before it becomes effective. 

 

Your adjustable rate note has the rate change information and all adjustable rate mortgage (ARM) parameters for your loan. A copy of this document should have been provided in your closing package. If you cannot locate this document or your closing package, please call us at 800-968-7700 for assistance.

If your loan has a fixed-rate conversion option, it will be indicated at the top of your adjustable rate note. If you have this option, you will receive a copy of the conversion procedures with your rate change notification letter.

Partial releases/Property changes

Please call 800-968-7700. Representatives are available Monday - Friday 7:30 a.m. -8 p.m. and Saturday 7:30 a.m. - 4 p.m. ET. You can also email [email protected] or send a written request to Flagstar's Collateral Management Department by mail.

 

Flagstar

5151 Corporate Drive, E-170-3

Troy, MI 48098

 

Please call 800-968-7700. Representatives are available Monday - Friday 7:30 a.m. -8 p.m. and Saturday 7:30 a.m. - 4 p.m. ET. You can also email [email protected] or send a written request to Flagstar's Collateral Management Department by mail.

 

Flagstar

5151 Corporate Drive, E-170-3

Troy, MI 48098

Please call 800-968-7700. Representatives are available Monday - Friday 7:30 a.m. -8 p.m. and Saturday 7:30 a.m. - 4 p.m. ET. You can also email [email protected] or send a written request to Flagstar's Collateral Management Department by mail.

 

Flagstar

5151 Corporate Drive, E-170-3

Troy, MI 48098

Please call Customer Service at 800-968-7700. Representatives are available Monday - Friday 7:30 a.m. - 8 p.m. and Saturday 7:30 a.m. - 4 p.m. ET. We will mail, fax, or email you a letter that details Flagstar's requirements for subordination.

Balloon resets

The interest rate you receive is determined by the rates available on the day we receive your request to reset and all the required documentation.

We are required to add 0.5 percent to the given interest rate and round it to the nearest eighth.

Re-amortizations

Loan re-amortization due to a large principal payment may be possible on certain loan types.  Please submit a request to our Special Loans Department for a review of your loan and specific investor guidelines to determine if your loans is eligible.  You may use the Re-amortization Eligibility Request Form or send an email to [email protected].

Servicemembers Civil Relief Act

The Servicemembers Civil Relief Act (SCRA) is federal regulation that provides certain protections for active duty military members and qualifying dependents. Such protections extended to mortgages, lines of credit, credit cards, installment loans, and student loans.

The program covers all active duty service members, reservists, and the members of the National Guard while on active duty. Protections may extend to qualifying dependents, even if the service member is not on the account.

SCRA offers these benefits:

  • Reduction of your interest rate to 6% (if applicable)
  • Waiver of most fees
  • Protection from foreclosure proceedings
  • Continued protection for 12 months after discharge

Submit a written request for SCRA protection and a copy of the service member's orders to Flagstar using one of the following methods:

 

FAX: 248-928-5174

 

Email: [email protected]

 

Mail: Flagstar

SCRA Department E-165-3

5151 Corporate Drive

Troy, MI 48098

 

If you have any questions, please call us at 800-968-7700 Monday-Friday 7:30 a.m. – 8 p.m. and Saturday 7:30 a.m. – 4 p.m. ET.

Mortgage assumptions

The general eligibility requirements are as follows:

  • The assumption section of the Truth-in-Lending statement or Closing Disclosure states, "Someone buying your property: 'May' or 'May, subject to conditions', be allowed to assume the remainder of your mortgage on the original terms". 
  • Loan must have closed more than one year ago. 
  • Loan must be current (all payments, fees, advances, etc. are paid). 
  • Loan must be a first mortgage.

Assumption may be possible in the event of divorce if all eligibility criteria has been met. The divorce must be finalized and the borrower wishing to retain the property may need to credit qualify. For any other circumstance, a refinance must be completed to remove someone from the loan. Please call our mortgage lending center at 855-404-3438 for refinance information.

Yes. Flagstar processes formal assumptions which releases the seller of financial obligation.

A general list of fees and costs that may be due are as follows:

  • Processing Fee ($400-$900) 
  • Recording Fees (varies per state/county) 
  • Transfer Tax (varies per state/county) 
  • Buyers Homeowners Insurance - First Year (varies) 
  • Notary Services (varies) 
  • Third Party Fees (title company, attorney, etc. - varies) 

 

All fees and costs are subject to change.

Please call our Customer Service Department at 800-968-7700. Representatives are available Monday-Friday, 7:30 a.m. - 8 p.m. and Saturday, 7:30 a.m. - 4 p.m. ET. Please provide the representative with an email address and information/instructions will be emailed to you.

Successors in interest

A successor in interest is someone who acquires an ownership interest in a property secured by a mortgage loan by transfer upon the death of a relative, as a result of a divorce or legal separation, through certain trusts, between spouses, from a parent to a child, or when a borrower who is a joint tenant or tenant by the entirety dies.

If you are a successor in interest, or you think you might be, please visit our guide for successors involved in a property transfer today.

 

If you have any questions, please email us at [email protected] or call our Customer Service Department at 800-968-7700.

Loan service transfer

Opes Advisors, a division of Flagstar, partnered with Dovenmuehle Mortgage (DMI) to subservice our loans. We chose DMI because of their longevity in the mortgage servicing business and their commitment to service.

 

Click here to go to Opes Advisors/DMI Online System

If you went through Opes Advisors/DMI to set up your autopay, draft, or ACH, this service has been cancelled and was NOT transferred to Flagstar.

 

If you went directly through your bank, please contact them to cancel autopay.

 

To set up automatic payments through Flagstar, create a MyLoans account or call 800-968-7700.

You will need to go into Bill Pay and make the required changes:
Flagstar
P. O. Box 660263
Dallas, TX 75266-0263
Reference Flagstar Loan#

If you set up “Budget Drafting” directly through Opes Advisors, this service has been cancelled, and you should have received a notice stating such. To set up bi-weekly payments with Flagstar, please call 800-968-7700.

 

If you set up a “Bi Saver” program through Douglas Michael, Aegis, or a third party, please contact them directly and provide the information below.

 

Contact Info:

Information to provide them:

Flagstar

P. O. Box 660263

Dallas, TX 75266-0263

Reference Flagstar Loan #

Your mortgage payments are technically due on the 1st of every month and become delinquent on the 2nd; however, you can pay as late as the 16th every month without any penalty.

No. We have taken care of that for you.

Whenever there is a loan payoff or transfer of servicing, we are required to send this information. It should include all activity up to the transfer. Keep this for your records.

Flagstar will be notified of any bills due but not yet received to ensure they are paid prior to the expiration date. Please contact Flagstar if you have additional concerns.

Servicers do not receive or pay such bills through the escrow account. If excess funds were placed in the escrow account at the time of closing you may request an escrow analysis and any surplus will be issued to you via check.

No. Flagstar will not charge late fees or report late payments during the first 60 days, per the requirements of the federal Real Estate Settlement Procedures Act (RESPA).

 

Flagstar sends communications about your loan using the information that was on file prior to the transfer. Please make sure we have your current contact information. Visit flagstar.com/myloans to log into or create a MyLoans account and update your email or mailing address, if necessary.

HELOC

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