Flagstar Bank Home Loan Center, Salem, OR

I had extreme flood damage to my house and this company held on to the insurance funds I needed so I could pay my contractor. Essentially I needed to get 25% of the repairs finished to get my insurance funds which were being held in escrow, but I needed the funds they put in escrow to get to 25% of the repairs finished. You see the catch 22 there. At this point I have talked to 5 different people who have said different things, I've applied for an exception, and had an inspection, but to no avail (I mean, I've been told that the exception has been sent further up the chain at "corporate" twice now). At this point it is more likely this company holds on to the $20k of insurance funds and loses $100k on my home rather than just releasing the insurance funds to repair the home. I would say deal with this mortgage company at your own risk.

I had an insurance claim from a fire from last year. I sent them a check so that they could sign off on it and I could get it deposited and pay the contractors. I overnighted the paperwork to then that they requested so that they could sign the check and they told me that they had received it. 2 weeks of now gone by and every single time I call somebody gives me a different story about what is going on with the check. It is supposed to take 3 to 5 business days is what they keep telling me. But it is now been nine business days. They've been holding it hostage now for 2 weeks and I cannot pay my contractor. This is by far the worst experience I've ever had with a loan company and I would steer clear from them. I cannot wait to refinance with another company