Volume 25 - Number 15
July 21, 2014
Downloads Available: Trends in Mortgage Consumer Complaints
Mortgage Complaints to CFPB Plunge Across the Board
A new analysis by Inside the CFPB found that consumer complaints to the bureau about their mortgages fell sharply in the second quarter, which likely reflects a continued stabilization in the housing and mortgage markets. In 15 out of 16 metrics tracked, customer gripes declined by double digits, with the remaining metric showing only a modest rise year-over-year. And in terms of the sole metric that showed a slight rise – a 3.6 percent increase in criticisms about mortgage servicing year over year – even there the data show a double-digit improvement (20.6 percent) from the first quarter of 2014 to the second. However, upon closer examination, the data also reveal that the double-digit rates of decline in consumer complaints slowed during ...
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