Grades are also broken down by the financial products offered be each institution. Generation Mortgage is rated "C" in Mortgages. Click on any of the financial products to see how Generation Mortgage compares.
Generation Mortgage has received 44 consumer complaints since January, 2012 – more than 86% of other banks.
Of those complaints, 93.2% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' Generation Mortgage meets the 60-day response deadline less frequently than 74% of other banks.
After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 20.5% of customers dispute Generation Mortgage's response to complaints — worse than 58.9% of other companies.
Most of Generation Mortgage's customers complain about mortgages with the primary issue being "loan servicing, payments, escrow account."
|#||Financial Product||Sub-Product||Complaint Issue||Complaint Count|
|1||Mortgage||Reverse mortgage||Loan servicing, payments, escrow account||14|
|2||Mortgage||Reverse mortgage||Loan modification,collection,foreclosure||14|
|3||Mortgage||Reverse mortgage||Application, originator, mortgage broker||9|
|4||Mortgage||Reverse mortgage||Settlement process and costs||5|
|5||Mortgage||Other mortgage||Loan servicing, payments, escrow account||3|
|6||Mortgage||Reverse mortgage||Credit decision / Underwriting||2|
|7||Consumer loan||Title loan||Payment to acct not credited||1|
|8||Money transfers||Domestic (US) money transfer||Money was not available when promised||1|
|9||Debt collection||Mortgage||Disclosure verification of debt||1|
|10||Mortgage||Home equity loan or line of credit||Loan servicing, payments, escrow account||1|
|#||Company Response||Response Count||Timely Response Count||Disputed Count|
|1||Closed with explanation||50||48 (96%)||11 (22%)|
|2||Closed with monetary relief||1||1 (100%)||0 (0%)|
|3||Untimely response||1||0 (0%)||0 (0%)|