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CFPB v. Flagstar Bank, F.S.B.

The Consumer Financial Protection Bureau, or CFPB entered into a consent agreement with Flagstar Bank, F.S.B. (Flagstar).

The CFPB alleged that Flagstar violated the loss mitigation provisions of the 2013 RESPA Mortgage Servicing Final Rule, and committed deceptive acts or practices by misrepresenting borrowers’ right to appeal the denial of a loan modification under the Consumer Financial Protection Act of 2010 (CFPA). These laws prohibit unfair, deceptive, or abusive acts or practices and protect distressed consumers from improper review and closure of loss mitigation applications.

Victim compensation

We contracted with Epiq Systems, Inc. to administer payments for this case and to answer questions from consumers on our behalf. This matter is now closed.

For more information on this closed case, contact us at Consumer Financial Protection Bureau, Attn: OCFO, Flagstar, 1700 G Street NW, Washington DC 20552.

Important dates

September 25, 2015 – December 22, 2017: Distribution

More information about the case

Read the court order

Read the press release