"CHART: Nearly Half Of Complaints To New Consumer Protection Agency Related To Mortgages And Foreclosures"
According to a report issued today, 43 percent of consumer complaints to the new Consumer Financial Protection Bureau had to do with mortgages and foreclosures. Of the mortgage complaints fielded by the Bureau, “54% involved borrowers who had problems with their loan modifications, a debt collection or foreclosure,” while 25 percent involved trouble making payments. As Firedoglake’s David dayen noted, “this is a pretty good barometer of whether or not the [mortgage] servicers have cleaned up their operations on foreclosures and loan modifications. And it’s pretty clear they haven’t.”