This is the top consumer complaint in the U.S.
Published: July 10, 2017 7:19 a.m. ET
By
Maria
LaMagna
Consumers have issues with their mortgages, credit reports, credit cards and bank accounts. But they hate their debt collectors the most.
The Consumer Financial Protection Bureau recently published a report on the most common consumer complaints Americans submit. Debt collection and mortgage-related complaints make up about half of the 1.2 million complaints the CFPB has received since it started accepting complaints in July 2011, the Bureau said in the report.
http://www.marketwatch.com/story/this-is-the-top-consumer-complaint-in-the-us-2017-07-07
Hate to sound like a broken record, but the CFPB would be wise to contact the FDIC. During the bank crisis, the FDIC took in tens of thousands of mortgages from closed banks, and used mortgage servicers like Nationstar and Ocwen to service those loans.
I was on a team that oversaw these servicers, and we had running battles with them. I'd like to say we were effective, as two servicers voluntarily withdrew from their contracts, as they weren't making enough profit on them.
