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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Some lenders have asked whether the bureau would adjust its so-called resubmission guidelines which determine whether lenders have to refile data based on errors found in samples and it has responded with a request for further industry input.
January 8 -
The more aggressive nonbank lenders are attracting top producers by essentially allowing loan officers to set their own rate of pay. While so-called "pick-a-pay" compensation plans are not illegal, critics say they can encourage loan officers to steer consumers into more expensive loans in order to increase their own pay.
January 6 -
Fannie Mae and Freddie Mac are telling lenders that they are willing to retain loans with defects if they believe the defects are minor and can be fixed. But Freddie is one-upping Fannie by offering to retain such loans without charging lenders a fee.
December 23 -
Existing-home sales plummeted in November confirming fears in the mortgage industry that a new consumer disclosure rule is delaying mortgage closings.
December 22 -
Some mortgage investors are refusing to buy home loans that are at risk of violations of new consumer-disclosure rules. The problem appears to be worst among nonagency jumbo loans purchased by private investors.
December 21 -
Rising rates could slow the runoff from refinancings and add stickier purchase loans to servicers' portfolios. That's the good news.
December 21 -
Fannie Mae is offering yet another carrot to lenders that have lobbied extensively for relief from loan repurchases.
December 15 -
U.S. Bancorp has plucked longtime lending executive Tom Wind from EverBank Financial to run its mortgage business.
December 10 -
Eileen Serra, 61, the chief executive of the Chase Card Services unit, will step down in January and become an adviser to the company on growth initiatives, according to a memo Wednesday from Gordon Smith, JPMorgan's CEO of consumer and community banking.
December 9 -
Calvin Hagins, the Consumer Financial Protection Bureau's deputy assistant director for originations, warned mortgage lenders this week about four contentious areas that its examiners will zero in on next year.
December 9
