The Consumer Financial
Protection Bureau (CFPB) says the overall mortgage related complaints it has
received recently are at their highest level in three years. The report was one
of two that the agency says show that more work needs to be done to help
mortgage borrowers during the COVID-19 pandemic and its economic fallout. A
second report documents that Black and Hispanic mortgage borrowers are much
more likely to be delinquent or in a forbearance program than white borrowers. CFPB said consumers submitted
more mortgage complaints in March than in any month since April 2018. Those
concerning forbearance or related issues also reached their highest monthly
average since March and April of 2020. The number of borrowers who report they
are struggling to make their payments is also trending upward.

 

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