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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The Interfaith Center on Corporate Responsibility says a report scheduled to be released by year's end will go a long way toward restoring the bank's credibility with shareholders following a string of legal skirmishes. The group is also pushing for changes at Bank of America and Wells Fargo.
December 16 -
Fannie said it will immediately begin accepting applications for fixed-rate 97% loan-to-value financing of borrowers with FICO scores as low as 620. Freddie, meanwhile, took a more cautious approach, delaying the start of the program, requiring credit counseling, and in some cases only allowing FICO scores as low as 660.
December 8 -
Fannie said it will immediately begin accepting applications for fixed-rate 97% loan-to-value financing of borrowers with Fico scores as low as 620. Freddie, meanwhile, took a more cautious approach, delaying the start of the program, requiring credit counseling, and in some cases only allowing Fico scores as low as 660.
December 8 -
Officials at Fannie Mae, Freddie Mac, and Ginnie Mae all heaped praise on nonbank mortgage lenders for stepping up to provide loans for home purchases at a time when many banks have scaled back.
December 5 -
Nonbank mortgage servicers are already in the crosshairs of regulators. Now they will face even more scrutiny from Fannie Mae and Freddie Mac.
December 2 -
Banks could originate 300,000 more home loans per quarter and face only a slightly higher risk of default, according to a new report. But lenders are unlikely to loosen lending standards until they are sure that Fannie, Freddie and the FHA have eased up on buyback requests.
November 26 -
The Federal Housing Administration could finally get something it desperately needs: upgrades to its outdated technology infrastructure. But industry groups object to the new fee being proposed to generate the necessary funding.
November 21 -
Lack of diversity in the sales force is one of several nagging issues underlying mortgage lenders' concerns about tepid home sales.
November 6 -
Federal Housing Finance Agency Director Mel Watt has struck a conciliatory tone, seeking lenders' input and making loan-buyback rules more industry-friendly a clear signal the administration thinks it needs bankers' help to reignite the tepid housing recovery.
October 31 -
Under fire from New York's top banking regulator, Ocwen Financial took a $100 million charge for a potential settlement for servicing violations and posted a third-quarter loss.
October 31 -
Embattled nonbank servicer Ocwen took a $100 million charge for a potential settlement of foreclosure violations and posted a third-quarter loss, but warned the final cost to settle allegations that it backdated foreclosure notices could be higher.
October 30 -
In a surprise victory for mortgage servicer PHH Corp., a California judge overturned a $16.2 million jury verdict awarded to a California homeowner in July for a botched loan modification.
October 29 -
New York banking regulator Benjamin Lawsky's latest crackdown on Ocwen Financial may undo Ocwen's deal to buy billions of dollars of mortgage-servicing rights from Wells Fargo, and it could complicate similar deals involving other banks and servicers.
October 22 -
The GSE regulator's second attempt to stimulate the mortgage market is receiving a lukewarm reception from lenders, who remain gun-shy after being forced by Fannie and Freddie to repurchase billions of dollars in soured loans since 2008.
October 21 -
The GSE regulator's second attempt to stimulate the mortgage market is receiving a lukewarm reception from lenders, who remain gun-shy after being forced by Fannie and Freddie to repurchase billions of dollars in soured loans since 2008.
October 21 -
A wide swath of banks, from Fifth Third to SunTrust to Huntington, report big increases in refinance applications in the past few days as mortgage rates have dipped. Will it last?
October 17 -
Mortgage lenders are threatening to halt lending on condominiums in Nevada after the state Supreme Court upheld a law allowing homeowners associations to foreclose ahead of first mortgage holders.
October 17 -
Market tumult and a disappointing third-quarter revenue report Wednesday loomed larger over Bank of America, putting it in a bind unique among the nation's megabanks.
October 15 -
The Mortgage Bankers Association continues to push back against regulations stemming from the financial crisis, as the industry's biggest lobbying group continues pushing for regulatory relief to bolster the housing market and boost profits for its members.
October 8 -
Elliot Salzman, an executive at the $76 billion-asset BBVA Compass, belongs to a small club of lenders: those willing to take a chance on making home loans to risky borrowers.
October 1
