The CFPB 2015 Consumer Response Annual Report

According to the Consumer Financial Protection Bureau’s CFPB 2015 Consumer Response Annual Report, there were 50,800 mortgage complaints handled by the CFPB in 2015 and 80% of them were servicing related. What’s amazing is that 81% of all those mortgage complaints closed with just an explanation to the customer from the mortgage company. Think about that for a minute, four out of every five mortgage complaints to the CFPB in 2015 were resolved with just an explanation to the customer. The report further states that approximately 71% of all CFPB consumer complaints were submitted through the CFPB’s website. What do you think would have happened if a servicer had a conversation with their customer before they filed a complaint?

Contact me to learn how’s patented process enables servicers to resolve issues with customers before they file a complaint to the CFPB.

You can view the entire CFPB report by clicking the hyperlink below:

CFPB 2015 Consumer Response Annual Report 

Consumers’ mortgage complaint data is listed on page #22 -26 and Table 14 can be found on page #43.