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 Introduces Appraisal Alternative
August 18, 2017, Freddie Mac announced that consumers who are buying homes or refinancing existing mortgage loans may be eligible for an automated appraisal alternative. The program is available on both home purchases and refinances. Key points from Freddie Mac’s press release are provided below. Borrowers may be able to realize savings in some […]
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CFPB Releases State-level Snapshot of Consumer Complaints
June 27, 2017, the Consumer Financial Protection Bureau (CFPB) released a special edition of its monthly complaint report, providing a snapshot of consumer complaints submitted across the country. For each state and the District of Columbia, the report provides statistics on complaint volume, the products and services generating the most complaints, company response rates, and […]
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Freddie Mac “No Credit Score” Underwriting Now in Effect
To expand homeownership opportunities to more borrowers, Freddie Mac has updated its Loan Product Advisor® to allow lenders to assess mortgages for borrowers without credit scores. The new program is effective for mortgages originally submitted on or after May 14, 2017, with settlement dates on or after June 26, 2017. Loan Quality Advisor® will also […]
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Fannie Mae Updates Selling Guide
April 25, 2017, Fannie Mae released Announcement SEL-2017-04, describing updates to the Selling Guide on a number of topics.
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Freddie Mac Announces Selling Guide Updates
March 16, 2017, Freddie Mac issued Bulletin 2017-2, announcing system enhancements and selling requirement revisions that expand homeownership opportunities and make it easier to do business with Freddie Mac. The changes include: Freddie Mac Loan Product Advisor® Updates Enhancing Loan Product Advisor to allow the assessment of mortgages where no borrower has a credit score. […]
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Fannie Mae Announces Simplifying Servicing™ Initiative
February 15, 2017, Fannie Mae published Servicing News announcing Fannie Mae’s Simplifying Servicing™. The announcement highlights a new user interface for the SMDU workout decisioning tool, investor reporting enhancements, relief from post-foreclosure expenses and Flex Modification to assist borrowers. To view the Servicing News in its entirety, including the summaries highlighted below: Servicing News The Fannie […]
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Fannie Mae Updates Servicing Guide
February 15, 2017, Fannie Mae issued Announcement SVC-2017-02: Servicing Guide Updates. The Guide has been updated with the following changes, several of which will simplify servicing: Relieves servicers of responsibility for paying most post-foreclosure taxes and homeowners’ association, condo, or co-op fees and assessments for acquired properties. This change will reduce costs and operational risk […]
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Fannie Mae Updates Selling Guide
Key highlights include appraisals, confidentiality and seller/servicer financial eligibility requirements January 31, 2017, Fannie Mae issued Announcement SEL-2017-01 which announces a number of Selling Guide updates. Below is a brief summary of key updates. Please refer to Announcement SEL-2017-01 for additional updates and complete information on the topics highlighted in this article. Selling Guide Announcement Confidentiality […]
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HUD Suspends FHA Mortgage Insurance Rate Reduction
January 20, 2017, HUD issued Mortgagee Letter 2017-07: Suspension of Mortgagee Letter 2017-01—Reduction of Federal Housing Administration (FHA) Annual Mortgage Insurance (MIP) Rates. HUD issued Mortgagee Letter The Mortgagee Letter communicates that reducing the mortgage insurance premium for loans with closing or disbursement dates on or after January 27, 2017 has been suspended indefinitely. FHA […]
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FHA Reduces Mortgage Insurance Premium Rates
January 9, 2017 HUD issued Mortgagee Letter 2017-1, Reduction of FHA Annual Mortgage Insurance Premium Rates. The new rates are effective with the closing or disbursement of mortgages on January 27, 2017.