Consumer complaints filed with the CFPB against the financial services industry increased in all most categories in the fourth quarter of 2023. (Includes two data tables.)
Consumer complaints filed with the CFPB increased during the third quarter, with credit cards and credit reports jumping from already high levels. Gripes about student loans also saw a big jump during the quarter. (Includes two data charts.)
Consumer criticisms related to mortgages declined in the third quarter of 2023, falling to the lowest level since the fourth quarter of 2011. (Includes two data tables.)
Consumer complaints filed with the CFPB regarding credit reporting were sharply up in the six months ending June from a year ago. Criticisms about mortgages and student loans saw declines. (Includes two data charts.)
Consumer complaints to the CFPB related to mortgages were down sharply from the early months of the year, with huge drops in every category, according to a new Inside the CFPB analysis.
Issues tied to a borrower’s debt-to-income ratio continued to remain the main reason behind both purchase mortgage and refinance denials in 2022, according to HMDA data. (Includes data chart.)
Rising interest rates made it a lot harder to qualify for a refi in 2022, according to a new analysis of HMDA data. The denial rate on applications for refis nearly doubled for certain loan products. (Includes data chart.)
Mortgage-related complaints filed with the CFPB grew by 41.2% to 7,016 in the first quarter of 2023. Servicing-related complaints were the largest group, largely due to issues in the payment process. (Includes two data charts.)
Consumer complaints regarding credit reports and student loans dramatically increased in 2022. Meanwhile, gripes about mortgages and debt collection declined. (Includes two data charts.)
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.)
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