to the Consumer Financial Protection Bureau, more than 38 percent of the 2,300
mortgage complaints submitted to the agency in December were based on loan
modification and foreclosure problems. Since its startup in July 2011, the
agency has fielded nearly 10,000 grievances across its scope of monitored
financial products, including payday loans, credit cards, and student loans.
The CFPB reported that companies in question responded to 88 percent of the complaints,
providing relief in more than half of the cases; almost 19 percent of the
relief went to mortgage-related complainants. Out of the mortgage complaints,
889 were related to problems with loan workouts or foreclosures. Additionally,
501 complaints were tied to payments, escrow accounts, and loan servicing.