TheMReport

January 2016 - Out of the Woods

TheMReport — News and strategies for the evolving mortgage marketplace.

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O R I G I NAT I O N S E R V I C I N G A NA LY T I C S S E C O N DA R Y M A R K E T ANALYTICS AROUND THE U.S. ANALYTICS STATE MORTGAGE COMPLAINTS California 35,141 Florida 22,808 New York 12,034 Georgia 10,170 Texas 9,510 New Jersey 8,756 Maryland 7,492 Illinois 6,638 Michigan 6,434 Pennsylvania 6,323 Virginia 6,088 North Carolina 5,819 Ohio 5,584 Arizona 4,667 Washington 4,503 Massachusetts 3,902 Colorado 3,366 Missouri 2,553 Tennessee 2,528 Minnesota 2,468 Oregon 2,364 Connecticut 2,338 Nevada 2,272 South Carolina 2,179 Wisconsin 2,109 Indiana 1,822 Louisiana 1,538 Alabama 1,506 New Hampshire 1,369 Kentucky 1,214 Utah 1,059 District of Columbia 995 Oklahoma 957 Delaware 954 Hawaii 870 New Mexico 784 Mississippi 754 Kansas 745 Maine 691 Arkansas 656 Idaho 602 Iowa 581 Rhode Island 566 Nebraska 497 West Virginia 361 Vermont 333 Montana 248 South Dakota 187 Alaska 181 Wyoming 157 North Dakota 95 Source: Consumer Financial Protection Bureau's Monthly Complaint Report, Vol. 5 58 | TH E M R EP O RT CFPB Complaint Rankings by State T hough becoming a homeowner is an exciting milestone for most Americans, the process isn't always the blissful experience many hope for when first falling in love with a home. And when those expectations don't meet reality, complaints are heard. The fifth volume of the Consumer Financial Protection Bureau's (CFPB's) monthly complaint snapshot showed that in October 2015, the Bureau received 24,254 complaints, 4,544 of these mortgage-related ones. "Debt collection, credit reporting, and mortgage complaints continue to be the top three most- complained-about consumer financial products and services, collectively representing about 66 percent of complaints submitted in October 2015," the report stated. In total, the CFPB has handled 749,384 complaints from May 2014 to October 2015. According to the report, during this time period, mortgage complaints totaled 201,946.

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