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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Arizona Enacts Changes to Mortgage Regulations
by: Matthew Dailey Arizona Enacts Bills Modifying Purchase Money Mortgage Liability, Loan Originators and Escrow Protection Letters The state of Arizona recently enacted two House bills and one Senate bill amending the laws regarding the mortgage industry. Arizona Updates Provisions Regarding Purchase Money Mortgages The state of Arizona updated its provisions relating to liens of […]
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Texas Adopts Provisions Regarding Loan Status Forms
by: Matthew Dailey The Texas Department of Savings and Mortgage Lending adopted provisions regarding loan status forms. These provisions are effective on May 1, 2014. When conditional qualification is given to a mortgage applicant by an originator, the form must resemble Form A under 7 TAC s.80.201(a). Most importantly, written confirmation is needed from the […]
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Wisconsin Amends Provisions Regarding Mortgage Loan Originators
by: Matthew DaileyThe state of Wisconsin recently enacted Senate Bill 534 on April 23 amending its provisions regarding the regulation of mortgage loan originators, mortgage brokers, and mortgage bankers. The bill also touches on branch offices, loan processors or underwriters, independent contractors and loan financing. These provisions are effective after the publication date of April […]
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Hawaii Establishes Uniform Power of Attorney Act
by: Lee GreenbergThe state of Hawaii recently adopted provisions to establish the Uniform Power of Attorney Act in Senate Bill 2229. The new chapter is effective immediately. Applicability The new legislation applies to all powers of attorney except the following: A power to the extent it is coupled with an interest in the subject of […]
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Delaware’s Bank Commissioner Adopts Mortgage Regulations
by: Louis DanastorgDelaware has adopted the amended regulations that had been published in the February 2014 edition of the Delaware Register of Regulations. The effective date of the amended regulations is April 11, 2014. Background Delaware’s Office of the State Bank Commissioner published notice of the proposed changes with all their text in the […]
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Utah Modifies Provisions Regarding Exemptions under Certain Transactions and Revises Lien Judgment Provisions
by: Matthew DaileyThe state of Utah modified its provisions relating to exempted transactions under the State Consumer Credit Code and exemptions under the Financial Institution Mortgage Financing Regulation Act. It also revised provisions requiring a separate information sheet filed with a judgment lien and provides that a small claim judgment is not a lien. These […]
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Fannie Mae Updates its Quality Control Self-Assessment Tool
by: Anna DeSimoneApril 15, 2014 Fannie Mae announced in its Selling News that the Enterprise had updated its Quality Control Self Assessment Tool. The worksheet tool was first issued in May 2013 as guidance for lenders to manage risk and comply with Fannie Mae’s Selling Guide requirements. To view the earlier worksheet, please refer to […]
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Virginia Amends Provisions Relating to Notaries, Appraisers, and Rescission of Deeds Fees
by: Louis DanastorgVirginia’s legislature has enacted amendments to the VA Code relating to notary advertising prohibitions, appraisal management company licensure and civil actions to rescind deeds proven to have been obtained by fraud or undue influence. Senate Bill 503: NotariesSection 47.1-15.1: Addition Prohibition on Advertising No notary may offer or provide legal advice on immigration […]
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Utah Enacts Various Mortgage Lending Laws
by: Emily RossThe Utah General Session and Senate have passed a series of bills over the past month that affect many financial institutions in relation to the practice of mortgage lending. These bills include basic changes such as yearly fee adjustments as well as larger changes affecting the licensing schemes of mortgage loan originators as […]
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Delaware Real Estate Appraiser Council Amends Regulations
by: Louis DanastorgThe Delaware Real Estate Appraiser Council has adopted the amended regulations that had been published last November. This present order becomes effective 10 days from the Council’s March 2014 publication in the Register of Regulations.BackgroundOn February 18, 2014 Delaware’s Council of Real Estate Appraisers ordered the adoption of the regulations it had proposed […]