How to File a Grievance Complaint Against a Mortgage Lender
Mortgage lenders are like all other companies in that some are extremely efficient and helpful while others are neglectful and sometimes fraudulent. If you have an issue with your mortgage lender, first try to address the problem through the company itself. After your issue is not dealt with to your satisfaction, you can file a complaint with either the Better Business Bureau or the Federal Reserve.
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Instructions
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Better Business Bureau
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Go to the BBB's online complaint form (see Resources). Fill out the country and military personal question. Select "Products and Services" under the "My complaint involves" question. Click "Next."
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Type your ZIP code in the box provided and click "Next" again.
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Fill out the mortgage lender's company information. This includes the lender's name, telephone number, address and company URL, if applicable. Click "Next" when you are finished. You will then be directed to the specific Better Business Bureau office website that will handle your complaint.
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Answer the four questions that pop up. These questions are basic and include questions such as "Has this complaint case ever been involved in litigation?" Click "Submit."
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Complete all of the red boxes with your personal information. This includes your contact information. Click "Next" and repeat, but this time use the mortgage lender's information. Click "Next" again.
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List in detail in the space provided your exact complaint against the mortgage lender. Add information about any correspondence you had with the mortgage lender, including the dates and times you spoke with the company. The more specific you are, the better help you will get in resolving the issue. Click "Submit" and wait for the BBB to contact the mortgage lender on your behalf.
Federal Reserve
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Go to the Federal Reserve's online complaint form (see Resources).
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Fill out all of your personal information, such as your physical address, email address, telephone number and preferred contact information. Select whether you wish to use a representative contact. Click "Next."
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Complete the mortgage lender's personal information page just as you did your own. Click "Next."
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List your complaint in the space provided. Go into as much detail as you possibly can concerning your case. Include information on all conversations you had with the mortgage lender, who you spoke with and what was promised or not fulfilled. Click "Submit." Wait up to 60 days for the Federal Reserve to investigate and help resolve the issue you are experiencing with the mortgage lender.
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Tips & Warnings
Keep all documentation you receive from the mortgage lender in case you need to take your case all the way to court.
Never make derogatory comments or use abusive language in your grievance complaints.
