CFPB Says NH Leads Country in Mortgage Complaints

June 8, 2013
New Hampshire Union Leader  
mortgage lending news

New Hampshire, Maryland, the District of Columbia, Georgia, and Florida are the top states per capita for mortgage complaints, according to a national database of consumer complaints on financial services amassed by the U.S. Consumer Financial Protection Bureau (CFPB) since 2011. In New Hampshire, 646 of 912 complaints were mortgage-related and mainly involved loan modification, collection, or foreclosure. The District of Columbia, Delaware, Maryland, New York, and New Jersey are the top states per capita for credit card complaints, while the District of Columbia, Delaware, New Jersey, Rhode Island, and Maryland top the list for bank account and service complaints. The database, which updates nightly and is open to the public, features data on thousands of complaints on credit cards, mortgages, student loans, bank accounts and services, auto loans and other consumer loans, money transfers, and credit reporting services. CFPB Director Richard Cordray says, "This data puts valuable information in the hands of consumers to help them understand what is happening in their states. ... The CFPB uses the complaints along with other information, such as the timeliness of the company's response, in a variety of ways, for example, to help prioritize complaints for investigation."
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