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.
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One criticism of the CARES Act is that it provides relief only to borrowers with government-backed loans. Bills in New York and California would cover the remaining 30% of homeowners.
June 4 -
The rescue bill enabled banks to protect loans in forbearance from an immediate hit to a borrower’s credit report, but experts say affected consumers may have trouble getting loans after the pandemic ends.
June 1 -
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.
May 26 -
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.
May 22 -
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.
May 18 -
![“A growing concern for many [homeowners] is the notion that they would have to make a balloon payment at the end of the mortgage forbearance,” said CFPB Director Kathy Kraninger.](https://arizent.brightspotcdn.com/dims4/default/21bc754/2147483647/strip/true/crop/5000x2813+0+260/resize/1280x720!/quality/90/?url=https%3A%2F%2Fsource-media-brightspot.s3.us-east-1.amazonaws.com%2F1e%2F1a%2Fa2ee24e14f76810e720c3b08aee8%2Fkraninger-kathy-bl-031020.jpg)
The joint site describes potential strategies for both homeowners and renters economically affected by COVID-19.
May 12 -
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.
May 10 -
Mortgage lenders have imposed steep pricing adjustments for cash-out refinancing as more borrowers seek forbearance.
May 4 -
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.
May 1 -
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.
April 29
![“A growing concern for many [homeowners] is the notion that they would have to make a balloon payment at the end of the mortgage forbearance,” said CFPB Director Kathy Kraninger.](https://arizent.brightspotcdn.com/dims4/default/d17cefd/2147483647/strip/true/crop/5000x2813+0+260/resize/1440x810!/format/webp/quality/90/?url=https%3A%2F%2Fsource-media-brightspot.s3.us-east-1.amazonaws.com%2F1e%2F1a%2Fa2ee24e14f76810e720c3b08aee8%2Fkraninger-kathy-bl-031020.jpg)
