Consumer Mortgage Complaints Close to Free Fall in First Quarter
April 20, 2015
Mortgage-related complaints to the CFPB are falling through the floor on just about every key metric, according to the latest analysis of bureau data by Inside the CFPB, fueled mostly by a plunging in gripes about loan modifications. The data reflect the depressed levels of mortgage originations in recent years as well as a continued rebound in home price appreciation. The plunge is most notable when comparing first-quarter 2015 numbers with the same period last year. For instance, total consumer gripes about their home loans fell 33.5 percent in 1Q15 versus 1Q14. The fall in belly-aching about loan mods was even more dramatic, down 38.6 percent, the data show.Consumer criticisms about mortgage servicing also declined markedly but not quite ...