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Taxes and Insurance

Effective Thursday, February 01, 2018, taxes and insurance due within 30 days (previously 60 days) from purchase must be paid and proof of payment must be provided prior to purchase. Taxes and insurance due after 30 days will be paid by Flagstar Bank.

Due Date Party Responsible for Payment Prior to Purchase
More than 30 days after the loan purchase date Flagstar Bank n/a
Within 30 days of loan purchase date Seller or seller's agent (e.g. closing agent or interim servicer) The seller will receive documentation stips for the loan file.

The Seller Guide will be updated to include this policy upon the effective date.

California Wildfires & Mudslides

The Disaster Update document has been updated to include newly published Incident Dates for government and JUMBO transactions. Please refer to the Disaster Update document for detailed information.

If you have any questions, please contact your sales relationship manager.

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