Flagstar Bank: 2024 Home Equity Review
If you're looking to tap into your home's equity, competitive interest rates and no closing costs make this bank worth considering.
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If you're looking to tap into your home's equity, competitive interest rates and no closing costs make this bank worth considering.
BY DOUG PAGE, STAFF WRITER, NATIONAL MORTGAGE PROFESSIONAL The recent abrupt closure of two Non-QM lenders – one that shuttered its doors and another that’s now under Chapter 11 Bankruptcy protection – may have prompted Flagstar Bank’s warehouse lending division to send out a text message, saying funding advances for Non-QM mortgages will require advance approval. “Effective immediately – Funding advances for Non-QM loans targeted to the investors listed below will require approval in advance,” the text message said. “Haircuts may be adjusted.”
Recently, Flagstar Bank confirmed that the company experienced a data breach after someone gained unauthorized access to the company’s computer network. According to Flagstar, the...