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
How do I update my bank account in MyLoans?
Why can't I access my loan information on flagstar.com?
I forgot my username and password for MyLoans. Can you provide this information?
How do I create a new user name?
I'm getting a message telling me that my username already exists for MyLoans. What should I do?
I have changed banks and my banking account information is different. How do I record the new information?
Why am I unable to change my mailing address on 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 the MyLoans website?
Can I do a one-time payment and then set up a recurring payment?
How do I set up a recurring payment so that it will not deduct the payment until the next due date?
Why can't I make an additional principal payment in the amount that I choose?
How can I verify that a recurring payment has been set up online?
Why was my online mortgage payment rejected?
If I unintentionally make two payments on MyLoans, can I stop it?
MyLoans access
What is Enhanced Login Security?
How will Enhanced Login Security affect me?
Can I choose my own challenge questions?
Why am I being asked for my phone number(s)?
What if I forget the answers to my challenge questions for my MyLoans username or password retrieval?
What if I forget the answers to my challenge questions for Enhanced Login Security?
What if I never receive the verification ID?
Will the answers to my challenge questions be case sensitive? Will the answers be recognized if they are close?
I've already set up a hint question and answer to reset my password or retrieve my username. How will this affect these questions? Will they be different?
What if I want to log in to MyLoans from another computer?
Will my current password requirements change as a result of the new security feature?
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?
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?
Escrow
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?
My insurance carrier has changed. What do I do?
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?
Where do I mail 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
How can I waive my private mortgage insurance (PMI)?
Loan-to-value (LTV) requirements:
How is my loan-to-value (LTV) calculated?
Can I make a principal balance reduction to waive PMI?
Can I get a new appraisal to show that I have equity in my home?
Can PMI be waived due to home improvements?
1098s
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?
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?
Who is not eligible for SCRA protection?
Who is not eligible for SCRA protection?
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?