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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HUD Updates Equal Access Rules for Marital Status, General Identity, Sexual Orientation
February 2, 2015 the Department of Housing and Urban Development (HUD) published H 2015-01: Notice of Program Eligibility for HUD Assisted and Insured Housing Programs for All People Regardless of Sexual Orientation, Gender Identity or Marital Status as Required by HUD’s Equal Access Rule. The purpose of the Housing Notice (Notice) is to increase awareness […]
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CFPB Issues Proposal to Boost Lending in Rural, Underserved Areas
By Anna DeSimoneProposal Would Extend Provisions to Cover More Community Banks, Credit Unions, and Other CreditorsJanuary 29, 2015, the Consumer Financial Protection Bureau (CFPB) proposed several changes to its mortgage rules to facilitate responsible lending by small creditors, particularly in rural and underserved areas. If finalized, the proposal issued would increase the number of financial […]
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CFPB Issues Supervisory Compliance Bulletin
By Anna DeSimone Bulletin Reminds Companies of Existing Legal Responsibilities Regarding Treatment of Confidential Supervisory Information January 27, 2015 the Consumer Financial Protection Bureau (CFPB) issued a bulletin to remind supervised financial institutions, including nonbank companies that may be unfamiliar with federal supervision, of existing regulatory requirements regarding confidential supervisory information. The CFPB supervises companies […]
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CFPB Finalizes Minor Changes to “Know Before You Owe” Mortgage Rules
By Anna DeSimone, PresidentChanges Address Mortgage Disclosures After Locking Interest Rates and Information on Construction Loans January 20, 2014, the Consumer Financial Protection Bureau (CFPB) finalized two minor modifications to the “Know Before You Owe” mortgage disclosure rules. The changes finalized January 20th which were proposed in October 2014, address when consumers will receive updated disclosures […]
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FHA Reduces Mortgage Insurance Premium as of January 26th
By Anna DeSimone, President January 9, 2015, HUD issued Mortgagee Letter 2015-01, “Reduction of Federal Housing Administration (FHA) annual Mortgage Insurance Premium (MIP) rates and Temporary Case Cancellation Authority.” The purpose of the mortgagee letter is to communicate revised annual MIP rates for FHA Title II forward mortgages and provide opportunity for cancellation of existing […]
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Fannie Mae Updates Underwriting Rules for Self-Employed Income
By Anna DeSimone, President December16, 2014, Fannie Mae issued Selling Guide Announcement SEL-2014-16. The Selling Guide has been updated to include changes to the following: Self-Employed Income Servicing Execution Tool Solar Panels Adjustments to Comparable Sales Flood Insurance for Nonresidential Detached Structures Cure Provision for Points and Fees Payment Calculation for Student Loans Nonstandard Repayment […]
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CFPB Issues Lender Guidance on Social Security Income Discrimination
by Anna DeSimone, President On November 18, 2014, the Consumer Financial Protection Bureau (CFPB) issued a bulletin to help lenders avoid imposing illegal burdens on consumers receiving disability income who apply for mortgages. The CFPB is reminding lenders that requiring unnecessary documentation from consumers who receive Social Security disability income may raise fair lending risk. […]
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Fannie Mae Updates Selling Reps Framework and Compliance with Laws
By Anna DeSimone, PresidentOn November 20, 2014, Fannie Mae issued Selling Guide Announcement SEL-2014-14. With this Announcement, Fannie Mae, jointly with Freddie Mac and at the direction of the Federal Housing Finance Agency (FHFA), is announcing a number of significant enhancements to the selling representations and warranties framework introduced in Announcement SEL-2012-08, New Lender Selling […]
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Fannie Mae Publishes New Servicing Guide
by Anna DeSimone, President November 12, 2014, Fannie Mae released the announcement: SVC-2014-20: Introducing the New Single-Family Servicing Guide. The new guide will replace the 2012 Servicing Guide (as updated by Announcements) in its entirety. Goals of the New Servicing GuideFannie Mae’s goals in creating the newly restructured and rewritten Servicing Guide were to make […]
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CFPB Issues Lender Guidance on Disability Income Discrimination
by Anna DeSimone, President November 18, 2014, the Consumer Financial Protection Bureau (CFPB) issued a bulletin to help lenders avoid imposing illegal burdens on consumers receiving disability income who apply for mortgages. The CFPB is reminding lenders that requiring unnecessary documentation from consumers who receive Social Security disability income may raise fair lending risk. The […]