As complaints by U.S. consumers about all types of financial services rose over the past year, the number of mortgage complaints has diminished.
There were 24,475 complaints that were filed by consumers about financial services during June, three percent more than were filed one month prior.
Financial services complaints by U.S. residents also deteriorated compared to June of last year, a month when there were 23,379 complaints reported.
The Consumer Financial Protection Bureau outlined the findings in Volume 13 of its Monthly Complaint Report for July of this year.
Federal mortgage complaints filed by consumers numbered 4,323 in the most-recent period month, a few more than 4,317 in May.
Mortgage complaints were much improved, however, compared to June 30, 2015, when the total was 4,702.
From April 1 through June 30 of this year, an average of 23,906 complaints were filed per month by consumers about all financial services.
The pace of complaints was slightly slower than 24,405 filed the previous month but worsened from 22,667 a year previous.
The report indicated that
an average of 4,304 mortgage complaints were filed last month, fewer than the 4,528 in the last report and 4,389 in the same month last year.
The 2 percent year-over-year improvement in average mortgage complaints compared to a 5 percent deterioration in overall complaints fielded by the bureau.
Among average monthly mortgage complaints received in the period from February through
April — enough time to allow 60 days for the companies to respond — the biggest originator and servicer, Wells Fargo & Co., had the most complaints.
Bank of America Corp. was next, closely followed by Ocwen Financial Corp., Nationstar Mortgage LLC and JPMorgan Chase & Co.
