Receives 4,300 mortgage complaints per month.
Appropriately responding to complaints is one of the primary functions of the Consumer Financial Protection Bureau and it’s easy to see why.
According to remarks from Steve Antonakes, Deputy Director of the CFPB, in February the bureau received more than 31,700 calls and handled more than 21,000 complaints. And mortgages make up a large portion of those.
The CFPB began taking consumer complaints when it opened nearly three years ago in the summer of 2011.
“Mortgage complaint volume, however, remains high and averages around 4,300 complaints per month,” Antonakes said speaking at the U.S. Chamber of Commerce. “Complaints are not only opportunities for us to assist specific people; they also make a difference by informing our work and helping us identify areas of concern, which then feed into our supervision and enforcement prioritization process.”
The updated numbers provided by Antonakes show little improvement in the volume of mortgage-related complaints the CFPB has handled over the last few years.