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.

CFPB

CFPB critics moving swiftly to challenge payday lending rule

Consumer groups are poised to take the bureau to court over its gutting of underwriting requirements, while House Democratic leaders could attempt a repeal through the Congressional Review Act.

By Kate Berry

April 30
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
FHFA

FHFA tries to cut liquidity-strained mortgage servicers some slack

The agency said it is aligning policies for Fannie Mae- and Freddie Mac-backed loans in forbearance so that servicers are only responsible for advancing four months of missed payments.

By Kate Berry

April 21
Servicing

Mortgage servicers remain hopeful U.S. will deliver coronavirus relief

Federal backing for firms facing a deluge of missed mortgage payments is still on the table despite recent comments by an official who questioned the need to help the industry.

By Kate Berry

April 20
JPMorgan Chase

JPMorgan halts home equity loans due to coronavirus

The nation's largest bank is temporarily reducing its exposure to the mortgage market amid rising unemployment and estimates that home prices could drop by 10%.

By Kate Berry

April 16
HMDA

CFPB finalizes HMDA rule that gives reg relief to banks

The move is part of an effort by CFPB Director Kathy Kraninger to help smaller lenders by significantly raising loan thresholds for collecting and reporting mortgage data.

By Kate Berry

April 16
CFPB

CFPB rulemaking engine churns on through coronavirus

The agency is still moving forward on key regulations dealing with payday lending and mortgage underwriting despite new demands posed by the crisis.

By Kate Berry

April 15
Overdrafts

Wells Fargo, Citi pledge not to garnish customers' stimulus funds

The two large banks are holding off for a month on collecting on negative balances to ensure that customers receive the full amount of government payments deposited into their accounts.

By Kate Berry

April 15