Filing Complaint

Dear MortgageMaster,

I’m trying to find out what agency regulates the mortgage industry. I would like to file a formal complaint about my mortgage company, but am unsure who to file the complaint with.

Thanks, Joyce

Hi Joyce,

Alas, dear Joyce, I cannot answer this question. Nor can anyone else without more information: Who is the lender? Are they a bank, Thrift and Loan, Credit Union, etc. What state are they licensed in? There are many questions that need to be asked and answered to know whom a complaint should be directed. For example, in California, numerous agencies regulate the lenders: California Department of Corporations, FDIC, California Department of Financial Institutions, etc., etc. There is an never-ending list of acronyms that regulate lenders throughout the U.S.A., both State and Federal. Hence, some of the problems we are currently witnessing: "Who oversees whom", "Who regulates, what", "Who has the ultimate power to punish", Etc.

You need to contact your lender or do some research to see who they say they are licensed with. I am sure that it will show on their website. It is usually required. Go to the regulatory agency's website and find the section for filing a complaint or a phone number to do so.

MortgageMaster