» Mortgage Complaints Hit Record Low as Other Financial Sectors See Major Spikes

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Mortgage Complaints Hit Record Low as Other Financial Sectors See Major Spikes

May 3, 2025

The CFPB’s newly released Consumer Response Annual Report, covering January 1 through December 31, 2024, offers some encouraging insights for the mortgage space. Of the 3.2 million consumer complaints submitted last year, only about 26,100 were related to mortgages—accounting for less than 1% of the total. That marks a 6% decline from 2023 and represents the lowest percentage of mortgage complaints since the CFPB began collecting data.

1.Mortgage Complaints Down, While Others Spike

The decline in mortgage complaints is particularly notable given the sharp increases seen across other financial products. Complaints involving VA loans fell by 10%, while conventional loan complaints dropped 12%. Meanwhile, credit and consumer reporting issues dominated the complaint landscape, accounting for approximately 85% of all complaints received.

Credit reporting complaints rose by 182%, and concerns over personal consumer reports increased by 124%. Complaints involving debts that consumers did not recognize surged 333%, and complaints related to certificates of deposit rose 81%. Mortgages were the only major financial product category with more than 1,000 complaints to see a year-over-year decrease.

2.Why This Matters

The CFPB, especially under the Trump Administration, appears to be signaling a more tempered approach to mortgage supervision—at least based on the data. While Chief Legal Officer Mark Paoletta recently identified mortgages as a “top supervisory priority” in an internal memo, the numbers present a more favorable narrative.

The fact that mortgage complaints now account for less than 1% of all submissions—the lowest share on record—suggests that the industry may be making meaningful progress. Whether it’s due to improvements in servicing practices, enhanced borrower communication, or more compliant origination workflows, the trend points to increased operational soundness.

3.The Opportunity for Brokers and Lenders

With CFPB attention now heavily focused on credit reporting and identity verification, mortgage professionals have an opportunity to reinforce what’s already working. For those investing in compliance systems, borrower education, and proactive audit controls—this is validation that the investment is paying off. For those still catching up, the report offers a chance to align operations before broader regulatory pressures return.

And while enforcement trends may evolve with changes in political leadership, one thing remains constant: proactive compliance is always a better strategy than reactive correction.

Read the full CFPB Consumer Response Report here: CFPB Consumer Response Annual Report – May 2025