How To File A Complaint Against A Bank (Updated 11-20-2013)
How To Get Help When Your Bank Will Not Respond to Your Loan Modification Application, Short Sale Request or Mortgage Servicing Problems
Option 1: File a Complaint with the Consumer Financial Protection Bureau (CFPB)
This Option is good for any type of debt including mortgages, auto loans, credit cards, etc. You can file a complaint against the bank or mortgage company at Consumer Financial Protection Bureau (CFPB), which is a US government office whose website states: “Our mission is to make markets for consumer financial products and services work for Americans — whether they are applying for a mortgage, choosing among credit cards, or using any number of other consumer financial products.” According to information I received, mortgage loan servicers and other lenders are REQUIRED to respond to inquiries/complaints filed with the CFPB and the CFPB will actually aggressively push the the loan servicers as needed. Regarding short sales and foreclosures, the CFPB can help with foreclosure issues, short sale valuation issues, short sale processing issues, delays in the short sale process, etc.
Option 2: File a Complaint with the Office of the Comptroller of the Currency (OCC) – Administrator of National Banks
If your mortgage loan is serviced or owned (i.e. the “investor” on the loan) by one of the large national banks (see the partial list below), you can probably file a complaint against the bank at the Office of the Comptroller of the Currency (OCC) – Administrator of National Banks, which is a US government office set up as an independent bureau of the United States Department of the Treasury. You can find out more information regarding the OCC on the Wikipedia Office of the Comptroller of the Currency page.
Partial list of the large national banks which would fall under the jurisdiction of the OCC:
- Bank of America (BAC Home Loans and also formerly Countrywide)
- Bank of New York (also formerly Mellon Bank)
- Chase (JPMorgan Chase)
- Commerce Bank, N.A.
- Green Bank
- Wells Fargo (also formerly Wachovia)
- U.S. Bank
If your bank or mortgage company is not listed above, you can check to see if the OCC would regulate your bank or mortgage company by visiting the Federal Financial Institutions Examination Council (FFIEC) Consumer Help Center. You can find out more information regarding the FFIEC on the Wikipedia Federal Financial Institutions Examination Council page. If the search function on the FFIEC page indicates that the OCC does not supervise the bank or mortgage company that you want to file a complaint against, it will tell you the correct regulatory authority to pursue your complaint with. If your bank or mortgage company is not working with you to help avoid foreclosure or being very difficult with respect to short sales, I recommend that you file a complaint to help prevent foreclosure. The bank will definitely respond. The last two OCC complaints that I recommended clients file resulted in phone calls from the bank’s vice president’s office.
Option 3: File a Complaint with the Ombudsman of the Federal Housing Finance Agency (FHFA)
If your mortgage loan is owned (i.e. the “investor” on the loan) by Fannie Mae (FNMA) or Freddie Mac (FHLMC), you can file a complaint with the FHFA. The FHFA oversees Fannie Mae and Freddie Mac. The FHFA Ombudsman investigates complaints against Fannie Mae and Freddie Mac. You can email the FHFA Ombudsman (Ombudsman@fhfa.gov). You can also email the FHFA Consumer Complaints and Questions Department (ConsumerHelp@fhfa.gov).
Option 4: File a Complaint with Fannie Mae (FNMA) or Freddie Mac (FHLMC) Directly
If your mortgage loan is owned (i.e. the “investor” on the loan) by Fannie Mae (FNMA) or Freddie Mac (FHLMC), you can file a complaint/request assistance directly with Fannie Mae and Freddie Mac.
You can contact Fannie Mae at Fannie Mae Borrower Outreach (email@example.com) and Fannie Mae Resource Center (firstname.lastname@example.org).
You can contact Freddie Mac at Freddie Mac Borrower Outreach (email@example.com) and Freddie Mac Borrower Help (Freddie_Mac_Borrower_Help@freddiemac.com).
If you are going to file a complaint the government entities above require that you include the Loan Number(s), Borrower Names(s) and Property Address(es) in any communication. If you know your FHA Case Number, VA Case Number, Fannie Mae File Number or Freddie Mac File Number please be sure to include that as well.
Regardless or which you decide to file a complaint or request assistance, please be sure to SEEK LEGAL COUNSEL (this website should never be construed as offering legal advice). In addition to filing a complaint and/or contacting any one of the entities listed above to request assistance, you should contact a foreclosure defense and/or bankruptcy attorney, a short sale real estate specialist like myself, and/or a legitimate mortgage loan counselor.
Please just do not let the bank foreclose on you without trying to prevent foreclosure. If you have a mortgage loan with Wells Fargo, Bank of America (BAC Home Loans or Countrywide Mortgage), CitiMortgage, Chase (JPMorgan Chase), America’s Servicing Company (ASC), GMAC, a Fannie Mae owned loan, a Freddie Mac owned loan, an FHA insured mortgage loan, a THDA mortgage loan, or any type mortgage loan, and you have missed mortgage payments, or will miss mortgage payments and live in the Nashville Tennessee area (Nashville, Brentwood, Franklin, Nolensville, Spring Hill, Thompson’s Station, Murfreesboro, Smyrna, LaVergne, Antioch, Columbia, Mt. Juliet, Springfield, Gallatin, Hermitage and Hendersonville), please contact Nashville Tennessee Short Sales and Foreclosures Expert for a free no obligation consultation to discuss your foreclosure prevention options including a short sale or short sales (if you have multiple properties).
Jim McCormack is a Nashville Real Estate Broker who provides Real Estate Solutions for for Nashville, Brentwood, Franklin, Nolensville, Spring Hill, Thompson’s Station, Murfreesboro, Smyrna, LaVergne (La Vergne), Antioch, Columbia, Mt. Juliet (Mount Juliet), Springfield, Gallatin, Hermitage, Hendersonville, Clarksville and Middle Tennessee (Davidson, Maury, Montgomery, Robertson, Rutherford, Sumner, Williamson and Wilson Counties) Homeowners and Real Estate Investors Facing Foreclosure and Needing to Short Sell Their Homes and/or Investment Properties. Jim Specializes in Short Sales and Foreclosures and Providing Sellers Short Sale Help and Foreclosure Help. Jim’s Help is Free to Nashville TN Short Sale Sellers. Jim Helps Sellers Stop Bank and Mortgage Foreclosure with a Short Sale, or a Fast Cash Offer. Avoid Foreclosure by Working Directly with a Nashville Tennessee Real Estate Specialist and Investor who is Uniquely Skilled, Honest, Compassionate, Caring and Exceptionally responsive to the needs of his clients. Jim Encourages You to See What His Clients Say About Him. For Buyers, Jim understands the Various Nashville Tennessee Housing and Investment Real Estate Markets Extremely Well and is Particularly Skilled at Assisting Buyers with Determining the Market Values of Homes and Investment Properties. Due to that Real Estate Valuation Knowledge, Jim can Help Nashville Home and Investment Property Buyers Get Fantastic Deals on Their Nashville Area Real Estate Purchases.