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 Federal Housing Finance Agency said Wednesday that foreclosures "should proceed without delay" if servicers have not identified any problems with foreclosure documents.
October 13 -
All attorneys general and most state bank regulators in joint effort to investigate mortgage servicers; Mers system discussed during JPM's earnings conference call; and more.
October 13 -
As servicers look more broadly at all documents involved in foreclosures, the resulting delays will hamper the filing of new foreclosures — not just those already begun.
October 12 -
A week after it suspended home foreclosures in 23 states, Bank of America Corp. said its review of documents so far shows the information used to justify foreclosures was accurate.
October 8 -
A week after it suspended home foreclosures in 23 states, Bank of America Corp. said its review of documents so far shows the information used to justify foreclosures was accurate.
October 8 -
The documentation problems forcing mortgage servicers to freeze foreclosures might have been avoided had the companies invested more in technology and hiring — before and after the housing bubble burst.
October 8 -
The state of Ohio takes GMAC Mortgage to court over fraudulent affadavits of foreclosures; servicers feel foreclosure pressure in the Golden State too.
October 6 -
With Fannie Mae and Freddie Mac now requiring that all mortgage servicers review how they handle foreclosures, more questions are being raised about the impact that potentially invalid affidavits will have on the foreclosure process, on servicers and the industry overall.
October 5 -
Bank of America's decision to exit the direct-to-consumer wholesale channel is yet another sign that banks are backing away from the liability of purchasing ...
October 5 -
Fannie Mae and Freddie Mac have told mortgage servicers to immediately review their policies and procedures related to the execution of affidavits, verifications and other legal documents in the foreclosure process.
October 4 -
Fannie Mae and Freddie Mac have told mortgage servicers to immediately review their policies and procedures related to the execution of affidavits, verifications and other legal documents in the foreclosure process.
October 4 -
In a move that will expedite some foreclosures, Wells Fargo & Co. has stopped granting extensions for certain distressed homeowners to complete short sales.
October 1 -
In a move that will expedite some foreclosures, Wells Fargo & Co. has stopped granting extensions for certain distressed homeowners to complete short sales.
October 1 -
JPMorgan Chase & Co. said Wednesday that it is halting 56,000 foreclosures in process, pending a review of whether employees properly signed and verified information in foreclosure documents.
September 29 -
GMAC employee who rubber-stamped foreclosures is immortalized in a slang dictionary; defaulted borrowers buy back homes they lost at discounts.
September 29 -
The Treasury Department singled out the three largest banks — Bank of America Corp., JPMorgan Chase & Co. and Wells Fargo & Co. — for failing to properly solicit and consider homeowners for the government's loan modification program.
September 24 -
Fannie Mae again sweetened incentives for buyers of its repossessed homes Thursday, underscoring its motivation to clear inventory.
September 23 -
Observers say fallen home prices and evaporated equity mean that those borrowers who today are still paying their second mortgages on underwater properties may soon join the ranks of those who aren't.
September 17 -
For the last three years, private mortgage insurers have suffered two great woes: credit losses on policies written before the crisis and an inability to compete with Federal Housing Administration prices on new insurance.
September 15 -
"Borrowers are savvy now and they know that once they lose the house, they can milk the system for time and cash," said Peterson, a managing director at the Sacramento private-equity firm Praxis Capital Inc., a large buyer at trustee sales.
September 8
