A small month-over-month decline was recorded for mortgage complaints even though overall financial services complaints rose.
An average of 24,405 complaints were filed per month against financial services companies during the three months ended May 31.
Complaint volume crept up from
an average of 24,010 complaints in the previous report and climbed from 22,850 a year previous.
The statistics were detailed in the June 2016 Monthly Complaint Report from the Consumer Financial Protection Bureau.
Complaints for just mortgages averaged 4,528 in the latest report,
slightly fewer than 4,587 previously reported for April 2016.
Still, mortgage complaint volume worsened from an average of 4,264 in May 2015.
But while a 6 percent year-over-year increase was recorded for mortgage complaints, that was a little smaller than the 7 percent rise in overall complaints.
Without utilizing an average, the 4,317 total mortgage complaints in just May 2016 was mostly unchanged from a month earlier
versus a 1 percent rise in overall activity.
With roughly
471 mortgage complaints, Wells Fargo & Co. — the biggest mortgage originator and servicer in the nation — had the most average monthly complaints during the three months ended March 31, 2016.
The mortgage complaints by company are reported on a two-month lag to allow mortgage firms 60 days to respond.
Bank of America Corp. had an average of 357 complaints, landing it in the second spot.
No. 3 Ocwen Financial Corp. had an average of approximately 329 complaints.
After that was Nationstar Mortgage LLC, where monthly complaints averaged in the neighborhood of 300.
JPMorgan Chase & Co. , the second-largest originator, had an approximate average of 271 complaints.
Next was Citibank, N.A., where complaints averaged around 114.
Capital One Financial Corp., with just
roughly 14 complaints, was No. 7.
