CFPB Monthly Complaint Snapshot Examines Mortgage Complaints

CFPB Monthly Complaint Snapshot Examines Mortgage Complaints

Report Comes With Have A Look At Consumer Complaints from California

WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) circulated its latest consumer that is monthly snapshot, showcasing customer complaints associated with mortgages. The report shows that consumers continue to encounter servicing issues if they are struggling to make re payments. This month’s snapshot also highlights trends noticed in complaints originating from California. At the time of 1, 2016, the Bureau has handled approximately 859,900 complaints across all products april.

“Today’s report demonstrates that ındividuals are nevertheless operating into way too many dead ends and hurdles in resolving difficulties with their mortgage servicer,” said CFPB Director Richard Cordray. “The Bureau continues to press to ensure that individuals will get the right information and the prompt assistance they need.”

Item Spotlight: Mortgages

Valued at over $10 trillion, the U.S. home loan market represents the consumer that is largest monetary market on earth. The CFPB has established new protections requiring lenders to determine that consumers can afford to repay their mortgages, and has introduced new consumer-friendly forms to help people shop for mortgages and avoid surprises at the closing table over the past two and a half years. Continue reading “CFPB Monthly Complaint Snapshot Examines Mortgage Complaints”