A new analysis by the CFPB has found that complaints from wealthier communities were more frequently about loan origination and performing servicing over the course of 2020.
Read More »Older Americans Lodge Reverse Mortgage Complaints with CFPB
Reverse mortgages are one of the most-complained about financial products for older Americans, with a new CFPB report showing servicing issues, communication problems, and difficulty changing loan terms as a common concern for consumers 62 and older. This group also reports issues with financial scams, confusion around deferred-interest credit cards, and being charged for unauthorized add-on products and services. Aging Americans are at a higher risk for financial exploitation, according to CFPB Director Richard Cordray.
Read More »CFPB Sees Drop in Mortgage-Related Complaints
Although mortgage-related complaints was listed as the third most-complained about consumer financial products and services, the rate of mortgage complaints are currently sitting around the national average, according to the CFPB’s recent monthly report. Also, find out which financial institutions made the list of the top ten companies that received the most complaints.
Read More »CFPB Surpasses 1 Million Complaints Handled
The Bureau handled its 1 millionth complaint in September after opening its doors slightly more than five years ago. Where do mortgage products rank on the CFPB's complaint list?
Read More »Mortgage Servicing Drives Consumer Complaints
Consumers ran into three major problems with the way their loan is being serviced, according to the CFPB's latest monthly consumer complaint snapshot.
Read More »CFPB Complaints About Ocwen Decline, While Nationstar’s Rise
Mortgages were most complained about at Ocwen and Nationstar Mortgage, but Ocwen's complaints have fallen 16 percent overall from in the last three months, while Nationstar's complaints rose 11 percent.
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