Consumer Complaint Policy and Procedures

Description

The Consumer Complaint Policy and Procedures outlines how the mortgage company will manage and respond to complaints submitted by consumers, whether received internally or through external channels.

Consumer complaints can signal potential risks, regulatory violations, or operational deficiencies. They may also highlight issues with specific products, services, departments, or third-party providers. Additionally, complaints can provide valuable insights into how to improve the consumer experience and enhance understanding of the mortgage process and loan programs.

Both state and federal regulatory agencies have processes in which a mortgage consumer can file a complaint when the consumer is concerned with the mortgage company, the mortgage loan or any aspect of the overall mortgage process.

The primary objective of this policy is to ensure that a clear process and response mechanism is in place to help consumers resolve concerns or misunderstandings before escalating to a state or federal regulatory authority.