The report is the CFPB’s latest snapshot report about its consumer complaint database, and Ocwen again sits in the top ten most-complained-about companies. That’s not what’s unique about Ocwen’s place in this month’s report.
What is unique about Ocwen is that it is the only company in the top ten most-complained-about companies that saw its complaints drop over the same time period last year, from July-September 2014 to July-September 2015.
Nearly every other company in the top ten – Equifax, TransUnion, Experian, Wells Fargo, JPMorgan Chase, Citibank, Nationstar Mortgage and Capital One – saw complaints against them rise in the last three months, with complaints against Equifax rising 26% and complaints against TransUnion jumping 53%
Bank of America’s complaint data was static for the last three months compared to last year, with no change at all.
But complaints against Ocwen fell by 19%, marking the second time in a row that one of the CFPB’s complaint snapshot reports showed complaints against Ocwen falling.
Overall, the CFPB reports that it saw a 12% decline in complaint volume between Oct. 2015 and Nov. 2015.
Complaints about mortgages also fell by 10% between Oct. 2015 and Nov. 2015.
But for November, the two most-complained-about financial products were debt collection and mortgages, representing nearly half of complaints submitted, the CFPB said.
For the 27th consecutive month, the CFPB said that it handled more complaints about debt collection than any other type of complaint. Debt collection complaints represented about 30% of complaints submitted in November 2015.
Debt collection, mortgage, and credit reporting complaints continue to be the top three most-complained-about consumer financial products and services, collectively representing about 68% of complaints submitted in November 2015.
The top three companies about which the CFPB received the most complaints about between July and September 2015 were Equifax, TransUnion, and Experian.