Home / Tag Archives: Consumer Complaints

Tag Archives: Consumer Complaints

BCFP Tallies Consumer Worries

The Bureau of Consumer Financial Protection has released a report enumerating the total number of complaints it has received by state and financial product or service. Find out what states complain the most (and least) about mortgage issues and why.

Read More »

Report: Foreclosure-Related Complaints Decreasing Faster Than Non-Current Inventory

The data showed that modification, collection, and foreclosure-related complaints were falling at an even fast rate than the number of non-current loans over that same period. In Q1 2013, the number of such complaints were received by the Bureau totaled 10,047; for the fourth quarter of 2014, that number was 4,741, a decline of 53 percent–compared to the 27 percent decline for non-current loan inventory.

Read More »

Confusion Over Loan Terms, Foreclosure on Non-Borrowing Spouses Top List of Complaints to CFPB

Perhaps the most serious complaint comes from surviving, non-borrowing spouses. When the borrower spouse dies, surviving spouses suddenly face foreclosure, despite the fact that "some consumers report that their loan originator falsely assured them they would be able to add the other spouse to the loan at a later date," the report states. Similarly, others complained that the loans are often difficult to repay and that lenders often throw obstacles in the way when consumers take steps to avoid foreclosure.

Read More »

GET YOUR DAILY DOSE OF DS NEWS

Featuring daily updates on foreclosure, REO, and the secondary market, DS News has the timely and relevant content you need to stay at the top of your game. Get each day’s most important default servicing news and market information delivered directly to your inbox, complimentary, when you subscribe.