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?
Why can't I access my loan information on
I forgot my username and password for MyLoans. Can you provide this information?
How do I add, change, or update my bank account in MyLoans?
How do I change my mailing address in MyLoans?
Why does my account show a pending mailing address change on MyLoans?
Payments in MyLoans
How do I make a one-time payment on MyLoans?
How do I set up a recurring payment so that it will not deduct the payment until the next due date?
Can I make additional principal payments?
Why was my online payment rejected?
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?
How do I notify Flagstar if I've been approved for a Homestead Exemption?
Where do I send my tax bill?
I live in Cook County, Ill. Do I need to forward my bill to you?
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?
What is an escrow account?
What is an escrow analysis?
Can I waive my escrow account?
Can I set up an escrow account after I close?
Why did my payment change?
Why do I have a shortage in my escrow account?
How can I pay my escrow shortage?
Why do I have an escrow surplus?
Can you apply my surplus to my loan?
When will I receive my escrow surplus check?
What if my escrow check was lost or stolen?
My tax amounts have changed. Whom do I contact to update the information?
Escrow holdbacks
I have an escrow holdback. How do I get the funds released?
Who pays for the inspection once the repairs are complete?
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?
What is PMI?
How do I know if I have PMI?
How do I calculate LTV?
When will PMI be automatically terminated?
When can I request PMI be canceled?
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?
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?
Why isn't the co-borrower's social security number on the 1098 statement?
When are year-end 1098 interest statements mailed out?
What is a 1098 interest statement?
I paid points at closing. Why aren't they indicated on my 1098 statement?
Special loans
When will my interest rate change?
When will I receive notification of the new interest rate and payment amount?
How can I get a fixed interest rate?
Does my loan have a fixed-rate conversion option?
When can I lock in a rate?
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?
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?
Who is not 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?
Mortgage Service Transfer
Who is Dovenmuehle Mortgage (DMI)? I thought Opes Advisors was servicing my loan?
What about my Auto Pay/ACH? How do I cancel with Opes Advisors/DMI and set 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 make the changes? 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 Tax Collector of the Servicer Change?
I received a “Short Year Escrow Statement” of my account from Opes Advisors/DMI. Why?
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?
I didn’t realize my loan was transferred to Flagstar until I noticed the payment was not drafted from my account. Will I be charged any late fees or will this cause any negative reporting on my credit?