Mortgage Servicing and Debt Collection among Major Issues According to EY Analysis of Consumer Financial Protection Bureau (CFPB) Complaint Data - Analysis shows complaints increased monthly to more than 14,100 in 2015 from 9,022 in 2013- Servicers taking complaints seriously with a 97 percent timely response rate, but giving relief to only 21 percent of the borrowers

NEW YORK, Nov. 18, 2015 /PRNewswire/ -- With an average of 14,100 complaints added to the Consumer Financial Protection Bureau's (CFPB) Consumer Complaint Database every month this year, the database has begun to offer meaningful insight into the problems facing both financial institutions and their customers. Based on in-depth analysis of this data, a multi-disciplinary EY team of compliance professionals, investigators, and former regulators uncovered two primary findings. Specifically: Continued issues with mortgage servicing and collection efforts with more than 35 percent of complaints related to mortgages and their servicing, origination, modification and collection efforts, and...