Top FAQs
How do I read my mortgage statement?
Why were my payments applied late when I have an online bill payment service and the funds were deducted from my account on the fifth of the month?
Where should my mortgage payment be sent if I don't have a mortgage coupon?
Why was my mortgage sold to another lending institution?
What is SAFE Act?
If I pay $100 additional to the principal balance each month, when will my loan be paid in full?
Can I transfer my loan to a living trust?
I am recently divorced and want to remove my former spouse from the mortgage. How can I do this?
My credit report indicates a delinquent reporting on my mortgage. Why did this happen and can I get it removed?
Why was my home inspected and why do I have to pay the inspection fee?
Can I do a loan modification to reduce my mortgage payment?
Is there a prepayment penalty if I pay my loan off early?
What fees are associated with a servicing loan?
What is Flagstar's Privacy Notice?
MyLoans
What is MyLoans?
How do I sign up for MyLoans?
How do I log into MyLoans?
Which Flagstar Bank app should I download to use MyLoans?
Why can't I access my loan information on flagstar.com?
What do I do if I forgot my username and password for MyLoans?
How do I add, change, or update my bank account in MyLoans?
Payments in MyLoans
How do I make a one-time payment on MyLoans?
Can I set up automatic payments (AutoPay) in MyLoans?
Can I make additional principal payments?
If I unintentionally make two payments on MyLoans, can I stop one of them?
Loan payoff
How do I order a payoff?
When will I receive confirmation that my mortgage loan is paid in full?
When will I receive confirmation that my personal loan is paid in full?
When will I receive my payoff overpayment and/or escrow refund?
Taxes
How do I notify Flagstar if I've been approved for a Homestead Exemption?
Where do I send my tax bill?
How do I notify you of an exemption or reduction in my tax amounts?
If I have any other questions about my taxes, who do I contact?
Escrow
What is an escrow account?
What is an escrow analysis?
Can I waive my escrow account and pay my tax and insurance bills myself?
Can I set up an escrow account after I close?
Why did my mortgage payment change?
Why do I have a shortage in my escrow account?
Why do I have an escrow surplus?
Can you apply my surplus to my loan?
When will I receive my escrow surplus check?
What should I do if my escrow check is lost or stolen?
Escrow holdbacks
I have an escrow holdback. How do I get the funds released?
Who pays for the inspection once the repairs are complete?
Insurance
I have questions regarding my insurance and need to speak with someone.
I have received an insurance bill or cancellation notice and I have an escrow account with Flagstar. What should I do?
I have changed insurance companies. How do I send Flagstar the updated information?
How do I make an insurance claim?
How do I submit my insurance papers to make sure Flagstar updates its records?
I have received a check from my insurance company for damages to my home, but Flagstar Bank is a payee on the check. How do I get the check endorsed?
PMI
What is PMI?
When will PMI be automatically terminated?
How do I calculate LTV?
Can I get a new property valuation to show that I have equity in my home?
What happens once PMI is removed?
What is considered a principal balance reduction in order to waive PMI?
What is considered a substantial home improvement in order to waive PMI?
What is considered appreciation of property value?
IRS Form 1098
What is a 1098 interest statement?
What does "minus escrow disbursed" mean on my 1098 statement?
Why does my 1098 show that no taxes were disbursed?
I made 14 payments. Why are only 13 payments listed on my 1098 statement?
Special loans
When will my interest rate change?
Does my loan have a fixed-rate conversion option?
Partial releases
How do I release or sell a portion of my property?
How do I receive a partial reconveyance?
How do I receive an easement or mineral rights agreement?
How do I obtain a subordination agreement?
Balloon resets
What will my interest rate be when my balloon resets?
Why is the interest rate higher than the rate on a new loan?
Re-amortizations
If I make a large principal payment, can I have my monthly payment amount reduced?
Servicemembers Civil Relief Act
What is the Servicemembers Civil Relief Act? (SCRA)
Who is eligible for SCRA protection?
What benefits does eligibility for SCRA protection provide?
How do I request SCRA protection?
Mortgage assumptions
Is my loan eligible for assumption?
Can I do an assumption to remove someone from the loan?
Does an assumption release me of liability?
What are the fees and costs associated with an assumption?
How do I start the process?
Successors in interest
What is a successor in interest?
I am a successor in interest. What is my next step?
Loan Service Transfer
Who is Dovenmuehle Mortgage (DMI)? I thought Opes Advisors was servicing my loan?
How do I cancel autopay with Opes Advisors/DMI and set it up with Flagstar?
I have bi-weekly payments through Opes Advisors/DMI. How do I cancel and then set up with Flagstar?
I have my payment set up with Bill Pay. How do I change it? What address or loan number do I use?
Why did I receive a late payment notification before the 16th? Don’t I have a grace period up to the 16th to make the payment?
Will I have to notify my homeowners insurance carrier or taxing authority of the servicer change?
Why did I receive a Short Year Escrow Statement on my Opes Advisors account?
My homeowners insurance is due, and I am concerned about it being paid on time given the transfer.
I received a Supplemental Tax Bill. What do I do with it?
I didn’t realize my loan was transferred to Flagstar until I noticed the payment was not drafted from my account. Will I have to pay late fees, or will this cause negative reporting on my credit?