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Volume 25 - Number 18

September 1, 2014

Downloads Available: Consumer Debt Collection Complaints Filed With CFPB by Company - as of 6/30/14

Incorrect Collection Attempts Dominate Debt Collection Gripes

The debt collection industry still has plenty of work to do in terms of correcting its collection attempts against delinquent borrowers, according to a new ranking and analysis by Inside the CFPB. “Incorrect collection attempts” were far and away the leading consumer complaint about the industry submitted to the CFPB, with more than 12,000 such gripes filed, nearly 40 percent of all debt-collection criticisms, the analysis found. (See chart on page 7.) The biggest offender in this regard was Encore Capital Group, with 925 such complaints. MNE Services Inc., on the other hand, had the lowest number of gripes in this area, 19, among the top 50 companies in the ranking. “Communication tactics” ranked second among types of consumer complaints ...

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With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.


No. It’s still difficult compliance/regulatory-wise.


Maybe. It’s under consideration.


Not now. But things could change as 2018 progresses.