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Most Mortgage Complaints Deal With Servicing -CFPB

Wednesday, September 23, 2015

The Consumer Financial Protection Bureau (CFPB) said this week that debt collection generated the most complaints about financial products or service received by in in August.  About 29 percent or 7,582 of the 25,732 consumer complaints it during the month were about collection practices while credit reporting was second with 5,733.  While the total number of complaints declined by nearly a thousand compared to July, consumer loans which include pawn, title, and installment loans have nearly doubled over the last year.  Payday loans had the largest percentage decrease, dropping 12 percent over the June-August period in 2015 compared to the same time-frame in 2014. 

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"We recently had the opportunity to work with Kim at Midwest Family Lending to purchase a home. The people at Midwest were courteous and friendly. The housing loan was handled in a professional manner. The people were fast and competent. My husband and I had been through some hard times and did not believe that we could get funding for a home. Traditional banks had turned us down, refusing to even work with us. Kim at Midwest Family Lending not only looked at us, but did get us the loan for a home that we can now call our own. We are referring any friends, acquaintances to Kim at Midwest Family for home loans. Thank you for all your help."