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Home » Store » Complaints » Consumer Complaints, Litigation Help Prompt CFPB Examinations

Consumer Complaints, Litigation Help Prompt CFPB Examinations

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Complaints

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One of the biggest red flags that will bring CFPB examiners charging in a lender’s direction is the level of consumer criticisms lodged against a company, especially if the number of such gripes is disproportionately large, a top industry attorney reminded the industry recently. Addressing attendees earlier this month during a webinar sponsored by Inside Mortgage Finance, a sibling publication, Michelle Rogers, a partner in the BuckleySandler law firm office in Washington, DC, said, “If your complaints are anomalous in that they’re much higher than others in your industry – peers, folks of your size – you are more likely to get an exam than others. And so you want to make sure that you’re mitigating or addressing those issues.” And those ...
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