A 13-percent acceleration in the number of mortgage complaints filed was worse than the increase for complaints for all financial services.
From November 2015 through January 2016, an average of 20,887 complaints were received by the Consumer Financial Protection Bureau.
Complaint volume, including activity for all types of consumer financial services, was slightly improved over the prior month’s average of 21,620.
The Consumer Financial Protection Bureau released the statistics in its Monthly Complaint Report March 2016.
But activity worsened from the same period a year prior, when the monthly average was 19,074.
For just the mortgage industry, an average of 4,006 complaints were handled by the CFPB during the most-recent period,
lower than 4,074 in the last report.
But, mortgage complaints have increased 13 percent on a year-over-year basis — outpacing the 10 percent rise for all financial services.
There were 21,805 total complaints for all financial services during just January.
Since it began accepting complaints, the CFPB says it has handled
around 811,650 complaints.
Mortgage complaints accounted for
4,263 of the January 2016 figure and 213,861 of the life-to-date total.
During the three months ended Nov. 30, 2015 — which allows 60 days for complaint responses from companies — Wells Fargo & Co. had an average of roughly 460 mortgage complaints — the most of any lender.
The estimate was based on a visual analysis of a graph provided by the
CFPB.
Next up was Ocwen Financial Corp. where approximately
360 average mortgage complaints were handled by the regulator.
After that was
Bank of America Corp.’s monthly average in the neighborhood of nearly 360 mortgage complaints.
Nationstar Mortgage LLC had an average of around 300 mortgage complaints — then JPMorgan Chase & Co.’s approximately 250; Citibank, N.A.’s, roughly 120; and somewhere around 10 at Capital One.
