General World News

CFPB received fewer reverse mortgage complaints in 2024

There were a total of 298 consumer complaints submitted to the Consumer Financial Protection Bureau (CFPB) in 2024 that were related to the reverse mortgage industry, according to a database maintained by the bureau. This was 63 fewer complaints than in 2023.

Of the total, about 43% were related to “trouble during the payment process.” This typically has to do with customers seeking to contact their lender or servicer to fix an issue with the management or servicing of a loan.

Roughly one in three complaints had to do with borrowers “struggling to details ⇒

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