Although they represent a small share of total complaints, student loan gripes increased by almost 50% in the third quarter. Mortgage-related complaints, on the other hand, continued to decline. (Includes two data charts.)
Researchers have found that as nonbank mortgage lenders increase their market share in a county, the frequency of mortgage-related complaints filed with the CFPB decreases.
Complaints to the CFPB about mortgages decreased in the second quarter, with gripes tied to originations slowing faster than servicing issues. Mr. Cooper remained the mortgage company with the most complaints. (Includes two data charts.)
Consumer gripes filed with the CFPB increased 15.5% from the first to the second quarter, according to a new analysis. Complaints about credit reports accounted for more than three-fourths of the total. (Includes two data charts.)
Complaints filed with the CFPB saw sharp sequential increases across all categories in the first quarter. However, gripes related to mortgages, debt collection and money transfers declined on an annual basis. (Includes two data charts.)
After three quarters of steady declines, the number of mortgage-related complaints received by the CFPB rose again in the first quarter of 2022. Mr. Cooper Group was the most frequent target of customer ire. (Includestwo data charts.)
The “discussion draft” from Rep. Maxine Waters, D-CA, seeks to establish a federal valuation agency, which would take over The Appraisal Foundation’s role in setting valuation standards and appraiser criteria.
Consumer complaints filed with the CFPB topped 500,000 in 2021, hitting a record high. Most of the complaints were against the three national credit reporting agencies. (Includes two data charts.)
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