BBB Business Review
This Business is not BBB accredited
FlagStar Financial Group
Phone: (877) 998-2672 500 Ross Street Suite 154, Pittsburgh , PA 15262 ! There is an alert on FlagStar Financial Group !
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This business is not BBB accredited.
Reason for Rating
BBB rating is based on 16 factors. Get the details about the factors considered.
Factors that lowered the rating for FlagStar Financial Group include:
- BBB concerns with the industry in which this business operates
- BBB does not have sufficient information to determine how long this business has been operating
- 9 complaints filed against business
- 9 serious complaints filed against business
- BBB does not have sufficient background information on this business
Customer Complaints Summary Read complaint details
|Complaint Type||Total Closed Complaints|
|Problems with Product/Service||7|
|Total Closed Complaints||9|
Additional Complaint Information
The BBB has received information from callers and complaints that the company is offering loans for an advance fee. Consumers allege that they have responded to advertisements in local papers. After paying several hundred dollars, consumers allege that they never received the loan promised by the company. One consumer reports that FlagStar Financial Group is referring consumers to an organization called Better Business Financial Registry which is not affiliated with the BBB.
On September 9, 2011 the BBB verified that the company is not currently licensed by the Pennsylvania Department of Banking and the landlord at 500 Ross St. stated FlagStar Financial Group is not a tenant.
These scams target individuals who are having trouble obtaining cash or credit. Customers are lured by advertisements and direct mail pieces promising "guaranteed" loans - regardless of credit history - for advance fees running between $50 and several hundred dollars. However, you must pay an advance fee before obtaining the "loan".
These so-called loan brokers don't lend money directly; they may claim to act as money finders and ask for an advance fee in order to prepare a loan application and present it to prospective lenders. But these firms cannot guarantee loans, despite their promises of unlimited funding sources. In many cases, brokers fraudulently pocket advance fees, make no effort to find the funds promised, and the customer loses money.
This business is in an industry that may require professional licensing, bonding
or registration. BBB encourages you to check with the appropriate agency to be certain
any requirements are currently being met.
These agencies may include:
Pennsylvania Department of Banking and Securities
17 N Second Street, Suite 1300, Harrisburg PA 17101
Phone Number: 800-722-2657
Fax Number: 717-787-8773
ADVANCE FEE BROKERS