I placed a bid on a Fannie Mae owned, due to foreclosure, home. I was told by the seller's agent that I was required to use a Fannie Mae backed bank. Flagstar Bank was suggested. The entire loan process has been a nightmare. Flagstar comes up with a reason to extend my closing the day or so before each closing date. They make sure they let you know very close to or the day before the closing date to correct a "new issue." This way they are assure they will get an extension. I have had my closing postponed 5 times! I startede thi... read full review »