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Home » Mortgage Complaints Show Double-Digit Decline in 2Q16
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Mortgage Complaints Show Double-Digit Decline in 2Q16

July 11, 2016
The CFPB’s TILA/RESPA Integrated Disclosure Rule – dubbed TRID – may have been causing mortgage lenders severe heartburn since it took effect in early October, but you wouldn’t know it by looking at consumer complaints about the mortgage application and origination process. They fell by 9.3 percent during the second quarter, according to a new analysis and ranking by Inside the CFPB – part of a larger drop off that found gripes down by 16.5 percent for the period, and off 4.5 percent year over year. The number of complaints that lenders responded to in a timely manner dropped 16.1 percent quarter over quarter, and 4.3 percent year over year. However, that could be because perhaps lenders/servicers were making more of an effort [With two exclusive charts]...
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