Complaints
This profile includes complaints for The Federal Savings Bank's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Complaints Summary
- 60 total complaints in the last 3 years.
- 21 complaints closed in the last 12 months.
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Submit a ComplaintThe complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.
Initial Complaint
Date:02/21/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
They took money from me for an appraisal on a veterans mortgage and then did not provide a mortgage. I paid so that I could get a mortgage from them and they did not perform. They promised to keep me informed and they did not.
Business Response
Date: 03/10/2025
Please see attached.Customer Answer
Date: 03/11/2025
Complaint: 22973808
I am rejecting this response because: there is no resolvement. They say sorry but you aggreed to the fee. The fact that we did not do what we agreed to does not affect the money received.. They work with and take advantage of veterans like me.
Sincerely,
**** ******Business Response
Date: 03/17/2025
Please see attached.Customer Answer
Date: 03/17/2025
Complaint: 22973808
I am rejecting this response because they didn't complete the transaction as agreed upon. They told us they could complete the loan. They had all the info needed beforehand to make a determination. They put language in the agreement to protect them in case they don't perform. They asked for money when they knew they could not perform or they did not do due diligence on the info they had. They are taking advantage of Veterans. This is a VA loan and they had all the info from me before they asked for the money. So this was taking advantage of Veterans.
Sincerely,
**** ******Initial Complaint
Date:02/18/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
Federal Savings is the mortgage holder of my property in *********, ** and is responsible for the escrow account and the disbursement of the funds to pay the taxes and insurance on the property. On multiple occasions, they have failed to pay the insurance leaving the property uninsured and have failed to pay the taxes on time leaving the property designated as tax delinquent. I provided them the notice of error on 2-3-25 for the failure to pay the taxes on the property, and I provided them the notice of error for failing to pay the homeowners insurance in April of 2024. It took months to correct insurance payment failure and I had to make self payments to the insurance company to keep the property insured even though there was funds in the escrow account for those payments. I am currently waiting for a resolution to the unpaid taxes. They currently have my account designated as overdue even though I paid the same amount as always on Feb 1 of 2025. I think a third party audit of the entire account from closing to current is needed.Business Response
Date: 03/18/2025
Please see attached.Customer Answer
Date: 03/19/2025
Complaint: 22957589
I am rejecting this response because: There has been no progress, the taxes are still delinquent. This is not the first time the escrow account has been incorrectly distributed, on multiple occasions my property has been uninsured. One time it was left uninsured for over 6 months and when I finally notified them I was required to find a new insurance company and paid a higher rate because the property was uninsured for so long. I don't believe the loan has been serviced correctly, and I want a third party review of the entire mortgage from closing to current. See the attachments, tax bill and one of the invoices sent to me. The invoice shows the incorrect property address, they don't even know what property they hold the mortgage for, I can't imagine they have been servicing the loan in a correct manner.
Sincerely,
****** *******Business Response
Date: 03/21/2025
Please see attached.Initial Complaint
Date:02/11/2025
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
On or around 1/25/2024 I applied to refinance my home through The Federal Savings Bank, spoke with ****** *******. After all the run around sending info after info she told me I was approved and all I had to do was pay $760, paid on 1/29/2024, appraisal fee, which she told me the $760 was refundable if loan was not approved. I paid appraisal fee and had the house appraised. Which during the time I had a HELOC on my home and she also told me not to worry about that payment, cause I was already approved for refinancing on the home. Therefore that ***** went delinquent for no payment and I was a month behind and it was noted on my application. On or around 3/4/2024 my application was denied due to nonpayment on the ****** which at the time she already told me I was approved for the refinancing. I therefore had to catch payment up on my ****** which I am current now. All I am asking for is the $760 appraisal fee reimbursed back to me.Business Response
Date: 02/19/2025
Please see attached.Initial Complaint
Date:12/21/2024
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
**** ***** offered a refinance product attached with a personal loan , because I own a manufactured home; which I agreed and moved forward with it and paid the $740 application fee. ( while we have the same last name, we are not related)After this I was approved for the loan; but then , ***** ****** Calls me and says that they're not able to approve the loan because its a manufactured home and the % for the personal loan was going to be double.I declined this because that wasn't what I was offered and signed for and immediately asked for a refund for the processing fee. I asked for this, because I was very specific about owning a manufactured home and also they should have verified this before offering me any finance products regarding this property.This process started on July 1st and I asked for the refund on October 2nd . I have written many emails and texts about this with no response.This process has been the most unprofessional that I have ever encountered.Business Response
Date: 01/15/2025
Please see attached.Customer Answer
Date: 01/15/2025
Complaint: 22718397
I am rejecting this response because:1- I had to pay $740 for a loan that was going to be denied because it's a manufactured home. That's something that should have been informed from the beginning. I applied for the same with *************** and they informed that they don't refinance manufactured homes. The client is not supposed to pay for the lack of knowledge or inefficiency from the federal savings bank personnel. They were the ones that made the mistake, not me.
2- I was offered a second lien loan with monthly payments of $541.76. When the refinance was denied because the property is a manufactured home, the payments increased to around $1,200 monthly ( I received a call from ***** ****** about this) and immediately spoke to **** *****. I was offered the option to back out and receive a reimbursement because of the mistakes made . Of course I wasn't going to accept those terms, I accepted the terms offered when I signed .
It's very irresponsible and unethical to move forward and make the client pay when the bank clearly wasn't going to approve the refinance for a manufactured home.
Sincerely,
**** *****Business Response
Date: 01/29/2025
Please see attached.Customer Answer
Date: 01/30/2025
Complaint: 22718397
I am rejecting this response because:They responded the same as the first response. I gave facts and timelines of what happened and they don't.
If they're that cheap, let them keep the money but I want the review to stay. I want people to see what can happen to them.
Sincerely,
**** *****Initial Complaint
Date:12/09/2024
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
Business continues to contact me even though I'm on the national do not call list and have opted out of mail from **** company. I have no intention of doing business with this company ever and would like to stop receiving advertisements from this businessBusiness Response
Date: 12/16/2024
Please see attached response.Customer Answer
Date: 12/17/2024
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
**** ******Initial Complaint
Date:11/13/2024
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
This guy out of ******** couldn't close a loan if he had help. Been trying to get a loan closed for 4 months and again today it's something else. STAY away from this place.Business Response
Date: 11/21/2024
Please see attached.Initial Complaint
Date:10/30/2024
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
The Federal *********** is not accepting multiple acceptable forms of VOE directly from my employer and is unreasonably preventing the funding of a loan and is attempting to penalize me for being on fully paid parental leave from 10/25/24 until 10/29/24.Business Response
Date: 11/05/2024
Please see attached.Initial Complaint
Date:09/12/2024
Type:Status:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
The Federal Savings bank has continued to send over 29 letters to my residence in an attempt to get me to accept a loan that I dont need or want .I informed them to stop sending letters to my residence but they have ignored my request.Business Response
Date: 09/18/2024
Please see attached.Customer Answer
Date: 09/18/2024
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
*********************Initial Complaint
Date:08/07/2024
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
Applied for a personal loan, was told they would only do a soft pull, no affect on my credit. I approved that and my loan officer did a hard pull instead. I requested that they remove the hard pull and have not heard back. I called the loan officer and he hung up on me.Business Response
Date: 08/16/2024
Please see attached.Initial Complaint
Date:07/13/2024
Type:Status:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I was working with ******* on a refinance. He told me continued lies to get me agree to sign documents and pay $810 in pre paid closing fees. He told me I would qualify for an fha refinance as he said the limit is 766k. After numerous conversations he promised me he looked into everything and we were fully approved and he talk to FHA to make sure everything was accurate so we signed the so we signed the documents and paid the fee. We later learned we were lied to and he never checked into anything and in fact our county limits was only $515k not the 766k shown in the attachment and we dont qualify for any refinancing as we were already at the limits. We never would have signed documents or prepaid for fees if we were told the truth in the first place. ******* was fired by federal savings and we were told by his boss ****** he did this to numerous customers and this is why he was let go. ****** then took over our case and we explained everything to him and asked for a refund as there is nothing we can qualify for and we never would of wasted $810 for no reason as FHA limits are not what we were told by Federal savings. After 3 weeks it took ****** to look into our file he agreed we were told wrong information and there is nothing we can do as we are already at FHA limits of 515k and no idea where they got the 766k in the beginning. He said he could only refund $61 because we signed the documents. When in explained we only signed them based on the lies we were given he basically said that was too bad and nothing he could do. I am requesting federal savings refund the entire $810 based on the multiple information I have sent them proving we were completely lied to in order to sign these documents and pay the fees.Business Response
Date: 07/22/2024
Please see attached.
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