June 25, 2017
I recently refinanced my home. My former mortgage company (Flagstar Bank, FSB, 5151 Corporate Drive, Troy, Michigan, 48098-2639) sent the total payoff request to ClearPath Lending (refinance company). The loan was paid off in total, however, I was sent an escrow check from Flagstar Bank in the amount of $1,762.88, 5 days later they put a stop payment on the check after is was deposited into my account, resulting in over drafting my account.
Here, I need to emphasize that Flagstar was the company, which requested the total payoff in the first place from ClearPath. So there is no ambiguity when it came to how much was needed in paying off the loan.
This occurred even after I had removed the ability from my automatic withdraw set-up. They circumvented the process and took the funds from my bank anyway. They have refused to even address the issue or respond to my documented inquiries. I sent them a certified letter with all of the necessary documentation and allowed the bank to respond within 2-3 weeks. I didn't even get a courtesy reply. The letter was sent on May 18th and still, the bank has yet to respond.
There are so many reputable mortgage companies out there, which will take your business, so avoid Flagstar at all costs, you will not be dealing with a reputable bank.
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