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Posts: 2596
Famed Member
Topic starter

Has anyone heard that Flagstar on St. Croix has closed? A realtor called us and told us that they had closed and wondered how it affected us. She didn't realize that Flagstar on island is associated with Flagstar in the states. Does anyone know if it is true and why they closed.

Posted : April 9, 2009 10:11 am
Posts: 3919
Famed Member

Tami, what is Flagstar?

Posted : April 9, 2009 11:34 am
Posts: 123
Estimable Member

A mortgage company on King St.

Posted : April 9, 2009 12:19 pm
Posts: 956
Prominent Member

Interesting. I don't know if they closed in STX or not but I am in the middle of a refinance with them....with the same person I've always dealt with and he hasn't mentioned it. Not that it would matter to me, I never actually went there when I bought my house. The nice thing is that if a "bank" shuts down when you are borrowing money from them it doesn't really matter to you (since you owe them).


Posted : April 9, 2009 1:22 pm
Posts: 2045
Noble Member

They are still open stateside. The loan companies here always seem to sell your mortgages to Flagstar. Its my current one. I tried to go with the local flagstar to do a refiance a couple of years ago and after six months I couldn't take the idiocacy and went somewhere else. I'm not surprised they closed down this branch.

Posted : April 9, 2009 1:34 pm
Posts: 631
Honorable Member

We deal directly with someone in Michigan, and had nothing to do with the stx folks at all. It was great..compared to the norm in the VI, at least, but we knew what we wanted, had a rather unusual situation I suppose, and he was flexible---we got to select the bank's atty, as well as the title company we wanted to use. Our guy is still at Flagstar (I checked a little while ago), but I've no idea if he's still doing stx loans.

Posted : April 9, 2009 2:54 pm
Posts: 106
Estimable Member

I heard that one had closed that was downtown, and it probably was Flagstar.

Posted : April 9, 2009 7:19 pm
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