Mortgage Loan Originator (MLO) Licensing Practice Test 2026 – Your All-in-One Guide to Exam Success!

The Consumer Financial Protection Bureau (CFPB) is the correct choice for handling complaints about mortgage loan rejections. The CFPB is a federal agency established to protect consumers in the financial sector, which includes oversight of financial products and services, particularly in the mortgage industry. It provides a platform for consumers to submit complaints, which are then investigated and addressed, ensuring that consumer rights are upheld and that any unfair or discriminatory practices in loan originating and rejection are scrutinized.

The CFPB also enforces relevant laws and regulations, including the Equal Credit Opportunity Act (ECOA), which prohibits discrimination in credit transactions, including mortgage loans. This agency plays a vital role in not only processing individual complaints but also analyzing overall trends to improve policies and practices within the mortgage lending industry.

In contrast, the Mortgage Bankers Association, National Association of Realtors, and State Real Estate Commission have other primary functions focused more on industry standards, practices, advocacy, or real estate regulations, rather than directly managing consumer complaints related to mortgage loan rejections.