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 FHA Annual Recertification and Post-Approval Process
by: Anna DeSimone May 27, 2014, HUD Issued ML 2014-09: Annual Recertification and Post-Approval Updates. The purpose of the Mortgagee Letter was to inform lenders about changes to FHA’s systems that alter the way lenders execute post-approval updates and complete FHA’s annual recertification process. The changes detailed in this Mortgagee Letter became effective May 27, […]
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Oklahoma Amends Provisions Regarding Consumer Credit
by: Lee Greenberg The state of Oklahoma recently amended provisions regarding consumer credit in House Bill 3346. The new law is effective July 1, 2014. Under the law, a seller or lessor is required to disclose information required by the Federal Consumer Credit Protection Act to a buyer to whom credit is extended or lessee with […]
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Illinois Modifies Provisions Regarding Consumer Fraud and Deceptive Business Practices Act
by: Lee GreenbergThe state of Illinois recently modified Section 2MM of the Consumer Fraud and Deceptive Business Practices Act in House Bill 3380. The new legislation takes effect on June 1, 2014.Under the new law, the following persons may request that a security freeze be placed on the credit report of a disabled person: A […]
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Colorado Adds Provisions Regarding Residential Mortgage Foreclosures
The state of Colorado recently added provisions regarding residential mortgage foreclosures in House Bill 1295. The new legislation takes effect January 1, 2015, and applies to foreclosure proceedings in which the notice of election and demand is filed on or after said date. The new law includes the following additions: • At least thirty days before […]
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Fannie Mae Updates Lender Selling Representations and Warranties Framework
by: Anna DeSimoneMay 12, 2014, with the release of Ann. SEL-05, Fannie Mae, jointly with Freddie Mac and at the direction of the Federal Housing Finance Agency, announced a number of significant enhancements to the selling representations and warranties framework introduced in Announcement SEL-2012-08, New Lender Selling Representations and Warranties Framework. These changes are related […]
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Freddie Mac Updates Selling Representation and Warranty Framework
by: Anna DeSimoneMay 12, 2014, Freddie Mac, jointly with Fannie Mae and at the direction of the Federal Housing Finance Agency, announced in Single Family Seller/Service Bulletin 2014-8 that it is making a number of significant enhancements to the selling representation and warranty framework introduced in 2012. These changes, including revisions related to how a […]
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CFPB Proposes Rule to Promote More Effective Privacy Disclosures
by: Anna DeSimoneMay 6, 2014 the Consumer Financial Protection Bureau (CFPB) proposed a rule to promote more effective privacy disclosures from financial institutions to their customers. The rule would allow companies that limit their consumer data-sharing and meet other requirements to post their annual privacy notices online rather than delivering them individually. The rule would […]
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VA Clarifies Policy on Unallowable Origination Fees
by: Anna DeSimoneMay 7, 2014 the Department of Veterans Affairs issued CIRC. 26-14-13: Policy Clarification on Unallowable Fees. The purpose of the Circular is to clarify the Department of Veterans Affairs (VA) policy on the treatment of unallowable fees when lenders charge a loan origination fee that is less than one percent of the loan amount […]
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FDIC Releases Resource Guide to Help Financial Institutions Evaluate Opportunities to Collaborate with Community Development Financial Institutions
by: Anna DeSimoneMay 8, 2014 the FDIC announced in Financial Institution Letter FIL-26-2014 that the agency has produced a resource guide, Strategies for Community Banks to Develop Partnerships with Community Development Financial Institutions. The guide was created to help inform FDIC-supervised institutions of strategies to meet community credit and development needs and receive consideration under […]
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CFPB Proposes Minor Changes to Mortgage Rules
by: Anna DeSimoneProposal Would Assist Nonprofits and Allow for Refunds of Excess Points and Fees for Qualified Mortgages April 30, 2014 the Consumer Financial Protection Bureau (CFPB) proposed minor adjustments to its mortgage rules to ensure access to credit. The proposal includes two changes that would help certain nonprofit organizations continue to provide mortgage credit […]