The Consumer Financial Protection Bureau is doing a booming business – in consumer complaints. The agency logged nearly 164,000 of them last year, nearly double the 90,000 processed the previous year. An analysis of that data reveals that the most vociferous mortgage-related complaints come from the wealthiest homebuyers. The CFPB’s investigations of mortgage related consumer complaints have identified a number of “unfair and deceptive” practices, among them:

  • Failure to cancel private mortgage insurance when required;
  • Failure to credit borrowers properly for bi-weekly mortgage payments;
  • Inaccurate submissions to credit reporting agencies; and
  • Refusal to honor loan modification terms.