Kate Berry

Kate Berry has covered the Consumer Financial Protection Bureau for American Banker since 2016. She joined the publication in 2006 covering mortgage lending and the financial crisis. Berry also has covered big banks including Bank of America, J.P. Morgan Chase and Wells Fargo. She has won five awards from the Society of American Business Writers and Editors, and has worked at several news organizations including the Orange County Register, the Los Angeles Business Journal and the Associated Press. Berry began her career as a clerk at the New York Times.

Servicing

Delinquencies and foreclosures won't be as bad as feared, data suggests

Forecasts about the pandemic's impact on the mortgage market have grown less dire after forbearance requests by homeowners nearly leveled off in the first half of May.

By Kate Berry

May 26
CFPB

CFPB offers templates for banks, servicers to seek 'no-action' letters

The templates are meant to make it easier to obtain agency approval for small-dollar loan products and to accommodate mortgage servicers that want to provide online loss mitigation options.

By Kate Berry

May 22
Regulatory relief

5 ways the CFPB has eased industry’s coronavirus burden

The agency has freed companies from reporting requirements and provided flexibility on exams to help them deal with COVID-19 fallout. It has also finished other regulatory relief efforts that were in the pipeline before the pandemic hit.

By Kate Berry

May 18
CFPB

CFPB, other agencies post website for consumers seeking housing relief

The joint site describes potential strategies for both homeowners and renters economically affected by COVID-19.

By Kate Berry

May 12
CFPB

CFPB gets earful from consumers about mortgage servicers

Complaints to the bureau hit an all-time high in April. More than one in five said servicers wouldn't grant deferrals, forced borrowers into forbearance or violated other requirements of the coronavirus relief law.

By Kate Berry

May 10
Refinance

Cash-out refis dry up as price hikes prove too costly

Mortgage lenders have imposed steep pricing adjustments for cash-out refinancing as more borrowers seek forbearance.

By Kate Berry

May 4
CFPB

Consumer loan applications dropped as coronavirus spread, CFPB says

Credit inquiries for auto lending, revolving credit cards and mortgages fell sharply in March as unemployment surged, according to a Consumer Financial Protection Bureau report.

By Kate Berry

May 1
TRID

CFPB eases disclosure rules to help consumers affected by COVID-19

The bureau issued an interpretive rule clarifying that consumers under certain conditions can modify or waive waiting periods required by the Truth in Lending Act and Real Estate Settlement Procedures Act.

By Kate Berry

April 29
CFPB

CFPB issues guidance on making mortgage servicing transfers 'seamless'

The bureau said it began developing the standards before the coronavirus pandemic. But more transfers may occur as some servicers struggle to meet their obligations during the economic downturn.

By Kate Berry

April 24
Servicing

State attorneys general urge FHFA, HUD to expand mortgage payment help

The bipartisan coalition of AGs said homeowners should be allowed to wait until the end of a loan term to make payments they skipped because of the coronavirus.

By Kate Berry

April 23