The three national credit reporting agencies’ poor response to consumer complaints raises serious questions about their intentions, the CFPB said in a new report.
Mortgage-related gripes to the CFPB declined by 14% in the third quarter. Loan mods showed the weakest improvement, with complaints down 5%. (Includes two data charts.)
Consumer complaints filed with the CFPB are up 79% since the start of the pandemic, a new analysis by Inside the CFPB shows. (Includes two data charts.)
The bureau filed a joint amicus brief with the Federal Trade Commission in a case that seeks to use a section of the Communications Decency Act to avoid prosecution under the Fair Credit Reporting Act.
Consumers self-identifying as older Americans filed 1,987 gripes related to mortgages in the first half of 2021, a sharp increase from the same period last year. Conventional mortgages made up most of the complaints.
Senate bill seeks to reward whistleblowers; CFPB examines complaints based on census tracts; new members appointed to CFPB advisory boards and councils.
Wells Fargo’s problems with the CFPB are now in the rear-view mirror, but the megabank has considerable OCC exposure. For starters, it cannot buy mortgage servicing rights.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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