Flagstar Hope For Homeowners Program

The Hope for Homeowners program is a “workout” servicing tool. Flagstar views this program as a last resort only to be considered when borrowers can prove they are in financial distress. We will be using this tool for Flagstar-serviced loans that we determine are in need of workout assistance. We will not be originating loans that are not serviced by Flagstar. There is not a published product description for this program. The final determination as to whether this program is the best option for the borrower will be made at our sole discretion. If you have customers with loans being serviced by Flagstar that have become financially distressed, please instruct them to contact our Loss Mitigation department at (800) 968-7700 to discuss their options. For more information and details of this program, please reference the Hope for Homeowners Page on the HUD Web site. 

Source – NAMB.org