Every day, people submit complaints to the Bureau of Consumer Financial Protection about a wide variety of consumer financial products and services. Today, we released our . It takes a deeper dive into the mortgage complaints we’ve received and highlights some trends we’ve observed.
This report reveals many interesting data points about complaints submitted by consumers:
- Between November 1, 2016 and October 31, 2018, approximately 11 percent of complaints were about mortgages.
- Most mortgage complaints were about “trouble during payment process” (42 percent) and “struggling to pay mortgage” (36 percent).
- Compared to the monthly average during the past 24 months, people submitted 18 percent fewer mortgage complaints in October 2018.
- There were 15 percent fewer mortgage complaints from August 2018 to October 2018 compared to August 2017 to October 2017.
Complaints received by the Bureau help its work to regulate consumer financial products or services under existing federal consumer financial laws, enforce those laws judiciously, and educate and empower people to make better-informed financial decisions.
The Bureau offers useful tools and resources for homeowners and homebuyers. Whether you’re thinking about buying a home, have a mortgage, or are having trouble paying, these resources can help you. You can also call us toll-free at (855) 411-2372, with your questions about consumer financial products and services.
This article by was distributed by the Personal Finance Syndication Network.
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