By Andrea Riquier | MarketWatch
Mortgage servicing complaints mushroomed after the housing crisis and haven’t abated
As the Consumer Financial Protection Bureau, an agency established in the aftermath of the financial crisis to protect ordinary Americans from bad behavior by companies, comes under fire from the Trump administration and Congressional Republicans, a new analysis shows a steady drumbeat of consumer complaints about mortgage products – especially those that touch the most vulnerable Americans.
The analysis, from real estate data web site Trulia, shows that complaints about mortgages of any kind rose 10% from 2012, the first full year the CFPB started taking complaints, through 2016. But those about some specific types of mortgage products have surged in that time: VA mortgage disputes are up 187%, for example, and reverse mortgage disputes are up 172%.