CFPB: Mortgage complaints down to third place

Decreased 12% from last month

In March, for the first time since the start of the Consumer Financial Protection Bureau in 2011, mortgage complaints were not the number one complaint.

Now, complaints for April have slipped down to third place with a decrease of 12% since the previous month, according to data provided by the federal regulator.

Debt collection complaints came in first, followed by credit reporting and then mortgages.

These three together made up 68% of total complaints during April.

Mortgage complaints totaled 4,347 out of the total 23,870 complaints.

This chart shows the decrease in mortgage complaints since March:

Click to Enlarge


(Source: CFPB)

Some of the top mortgage companies complained about include Bank of America, Wells Fargo, JPMorgan Chase, Citibank, Ocwen and Nationstar Mortgage.

Although they are receiving many complaints, some of these companies have begun to see improvement. For example, perhaps constantly being under the microscope of regulators is having a positive impact on Ocwen Financial and its standing with its customers.

This chart shows the complaints these companies receive:

Click to Enlarge


(Source: CFPB) 

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