Flagstar Rejection Letter and Information from the Attorney General’s Office
March 17
Dear customer (ME), Flagstar Bank has reviewed the information you provided to be considered for the U.S. Department of the Treasury’s Home Affordable Modification Program. Unfortunately, we are unable to proceed with modifying your mortgage under this program because you DO NOT meet one or more of the basic program mortgage and property eligibility requirements established by the Department of the Treasury as noted below:
“default not imminent
“We are unable to offer you a Home Affordable Modification because you are CURRENT on your mortgage loan and after reviewing the financial information you provided us, we have determined that YOU ARE NOT AT RISK OF DEFAULT because: you have not documented a financial hardship that has; reduced your income or increased your expenses, thereby impacting your ability to pay your mortgage as agreed.
Dean; I have documented a $90,000 loss in pay because of my job loss. An increase in my monthly expenses of $1,387 because of the job loss; Things the company paid for that I have to pick up now:
1. Car payment $404
2. Cell phone $126
3. Internet $39
4. Health Insurance $554
5. Life insurance $264
Letter of activity from Flagstar
1. June 30
A. Mr. Me sent us financial worksheet only. Unfortunately, because of the number of requests being received, we have NOT been able to respond to customers as quickly as we would like to do so. And…. Because his loan was current and, therefore he was NOT facing eminent foreclosure, Mr….’s file was NOT reviewed by a “pre-analyst until……
2. August 21
A. At that time, because of the missing information (I sent it in three times and also uploaded the (“missing information”) a “Missing Information Letter” was sent, requesting proof of; retirement, pension and SS. The file was NOT reviewed again by our “Pre-analyst” until……
3. October 12:
A. Do to the volume of requests being sent. At that time, the documents we had on file had expired and we requested UPDATED FINANCIAL INFORMATION.
4. November 11:
A. The file was assigned to; HOME AFFORDABLE MODIFICATION PROGRAM (HAMP) team
B. At this time, Fanny Mae was doing a campaign for DELINQUENT BORROWERS who may be eligible for HAMP.
C. 3rd party vendor to help
5. December 11
A. We assigned Mr….. File to…. STERLING HOME RETENTION
6. December 24 (yes)
A. `Sterling spoke with Mr….. And completed a verbal interview
B. All files, paper work etc. Must be sent again to Sterling Home Retention.
7. January 25
A. STERLING received ALL documents
8. February 9
A. Flagstar notified by Sterling Home Retention that the company was NO LONGER IN BUSINESS…I KID YOU NOT….
9. February 12
A. Letter to all customers who were working with Sterling notifying them (us, me) of this and requesting that (They, WE)….. Are you ready for this……that we SEND US (FLAGSTAR) UPDATED INFORMATION….. Again
B. We received Mr…. (me) updated documents on
10. February 26
A. Documents okay
11. March 17
A. Mr. (me) was reviewed for HAMP:
B. however mr (me) does not meet theimminent default requirements set forth by the invester fanny mae.
C. We have (gave, they can’t spell either) denial letter for HAMP AND ADVERSE ACTION LETTER.
D. At this time, there are NO loss mitigation workouts available to Mr… (ME)
That’s it. If any other business used these tactics, they would be called before somekind of agency, lose their license etc.
I did file a complaint with the Ohio Attorney General Richard Cordray and they wrote back and said: “I regret we cannot assist you further, but hope you feel free to call the Attorney General’s Consumer Protection Section should you have other consumer related problems in the future.” Yea, sure
Is he (Cordray) running this year??? Mmmmmmmmm
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