Consumers on the hunt for trustworthy mortgage brokers

by Kelli Rogers17 May 2013

Mortgage brokers are the 5th most inquired about and the 24th most complained about category of the approximately 800 Better Business Bureau (BBB) categories, according to BBB data.  

The Better Business Bureau serving northeast California reported a surge this spring in consumers seeking BBB business reviews for mortgage brokers. The data suggested consumers are seeking brokers they can trust as refinances and purchases rise in popularity, according to a BBB press release.  
In the first three months of 2013, BBB fielded nearly 6,000 inquiries into mortgage brokers just in northeast California, a 38% increase compared to the same period in 2012. 
BBB reported an 18% increase nationally during the same time period, recording nearly 500,000 visits to BBB business reviews of mortgage brokers.
While inquiries have increased nationwide, complaints against mortgage brokers filed with the BBB have decreased, from 9,545 filed in 2010 to 6,356 logged in 2012.



Should CFPB have more supervision over credit agencies?