Dec 14, 2011
CFPB’s mortgage help desk quietly goes online
14 Dec 2011
Posted by Andrew Kantor
Consumers with complaints about their mortgage lenders have a federal agency they can turn to, although the hotline hasn’t been publicized.
The Consumer Financial Protection Bureau has a home mortgage complaint and dispute resolution hotline (phone, Web, mail) where those who feel they’ve been wronged can submit the details for the CFPB to investigate.
“Details” is the key — you can’t just say “PNC keeps making mistakes on my paperwork.” You need account and contact information.
That information is then sent to the lender, which much review it, contact the complainant, work out a resolution, and report all that to the CFPB. The borrower can then review it to see if the lender really did what it said.