Mortgages may no longer be in the top spot for consumer complaints but that doesn’t mean they are anywhere close to out of the mix.
According to the Consumer Financial Protection Bureau’s latest monthly complaint report, the CFPB has handled approximately 223,100 mortgage complaints since July 21, 2011, making mortgage the second most-complained-about product after debt collection, representing 26% of total complaints.
The CFPB’s Monthly Complaint Report uses a three-month rolling average, comparing the current average to the same period in the prior year where appropriate, to account for monthly and seasonal fluctuations.
This month’s report spotlights mortgages and includes various charts that break down the numbers.
These first two charts show mortgage complaint types.
Click chart to enlarge
(Source CFPB)
This next chart shows the most-complained-about companies for mortgage. The top 25 most-complained-about companies received about 80% of all mortgage complaints sent to companies for response in November 2015 – January 2016.
Click chart to enlarge
(Source CFPB)
While the chart above lists only the top 20 companies, the two charts below are based on the top 25 companies.
This chart shows the companies with the largest percent increase in mortgage complaints.
Click chart to enlarge
(Source CFPB)
This chart shows the companies with the largest percent decrease in mortgage complaints.
Click chart to enlarge
(Source CFPB)
