More about Anna DeSimone
Anna DeSimone founded Bankers Advisory in 1986 and is a nationally recognized authority in residential mortgage lending. She has received numerous industry awards and has authored more than 40 best practices guides and hundreds of articles.
Blog Posts by Anna DeSimone:
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Freddie Mac Issues Bulletin Regarding TRID Disclosures
By Anna DeSimone June 30, 2015, Freddie Mac Issued Bulletin 2015-10, CFPB Integrated Disclosure Forms. Key highlights of the bulletin are provided in this newsletter. The TRID Rule initially had been slated to take effect on August 1, 2015. On June 17, 2015, the CFPB announced its intention to propose and invite comment on a […]
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Fannie Mae Announces Guide Updates and TRID Disclosure Policy
By Anna DeSimone June 30, 2015, Fannie Mae issued Ann. SEL-2015-07, Selling Guide and Other Updates. Key highlights of the Announcement are provided below. The Selling Guide has been updated for the following: Conversion of Principal Residence Requirements No Longer Apply Stocks, Bonds, and Mutual Funds Unreimbursed Employee Business Expenses Tip Income Use of IRS […]
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CFPB Issues Reports Identifying Illegal Practices Covered Under Supervision
By Anna DeSimoneJune 23, 2015, the Consumer Financial Protection Bureau (CFPB) released its latest supervision report outlining the illegal practices uncovered by the Bureau’s examiners in the first four months of 2015. The Bureau found problems with dual-tracking at mortgage servicers that could mislead consumers to believe their trial modifications were canceled. The Bureau also […]
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Agencies Issue Final Flood Insurance Rule
By Anna DeSimoneJune 22, 2015, five federal regulatory agencies announced the approval of a joint final rule that modifies regulations that apply to loans secured by properties located in special flood hazard areas. Announcement NR-2015-89 was issued by Board of Governors of the Federal Reserve System, Farm Credit Administration, Federal Deposit Insurance Corporation, National Credit […]
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Minnesota Amends Provisions Regarding Foreclosure
by Matthew Dailey, J.D.The state of Minnesota amended its provisions relating to the action to foreclose. Affected are the publication requirements and defenses to foreclosure sales. These provisions regarding advertisements are effective on July 1, 2015 and apply to foreclosures in which the notice of pendency is recorded on or after that date. The State […]
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FHA Announces New Quality Assurance Methodology
By Anna DeSimone June 18, 2015, the Federal Housing Administration released its Single-Family Loan Quality Assessment Methodology. Referred to as “Defect Taxonomy,” the system outlines a detailed process for quality assurance of Single-Family FHA endorsed loans. Please click on the link below to review the 28-page document in its entirety: http://portal.hud.gov/hudportal/documents/huddoc?id=SFH_LQA_Methodology.pdf The framework centers on […]
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Freddie Mac Updates Servicing Guide
By Anna DeSimone June 15, 2015, Freddie Mac issued Bulletin 2015-9: Servicing. This newsletter highlights key sections of the bulletin. Please click on the following link to view the 7-page document in its entirety and access the numerous internet links contained in the Bulletin: Freddie Mac Servicing Bulletin 6.15.15 Outlined below are some of […]
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CFPB Delays TRID Until October 1st
by Anna DeSimoneJune 17, 2015 the Consumer Financial Protection Bureau Issued the following Press Release: Statement by CFPB Director Richard Cordray on Know Before You Owe Mortgage Disclosure RuleWASHINGTON, D.C. – Today, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray issued the following statement on the Know Before You Owe mortgage disclosure rule:“The CFPB will […]
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OCC Issues New Residential Lending Examination Procedures
by Anna DeSimoneJune 15, 2015, the Office of the Comptroller of the Currency (OCC) issued the Revised Comptroller’s Handbook Booklet and Rescissions. The announcement was issued to chief executive officers of all national banks and federal savings associations, department and division heads, all examining personnel, and other interested parties. The “Residential Real Estate Lending” booklet […]
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Texas Amends Provisions Regarding Licensing Exemptions
By Matthew Dailey, J.D.The state of Texas amended its provisions relating to exemptions from the applicability of the state Secure and Fair Enforcement for Mortgage Licensing Act of 2009. These provisions are effective on September 1, 2015.IRS Designated 501(c)(3) EntitiesSenate Bill 1203 was enacted by the legislature to deal with Section 156.202 of the Finance […]