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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Pennsylvania Amends Provisions Regarding Deficiency Judgments
by: Lee GreenbergThe state of Pennsylvania recently amended provisions of the Pennsylvania Consolidated Statutes regarding deficiency judgments in House Bill 84. The legislation is effective immediately. Under the new law, the following actions must be commenced within six (6) months following execution and delivery of the sheriff’s deed for property sold in connection with the […]
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West Virginia Re-enacts Mortgage Licensing, Lending and Servicing Acts
by: Louis DanastorgWest Virginia SAFE Mortgage Licensing Act and West Virginia Mortgage Lender, Broker and Servicer Act – Senate Bill 383 Earlier this month West Virginia passed an act to amend and reenact definitions within the West Virginia SAFE Mortgage Licensing Act and the West Virginia Mortgage Lender, Broker and Servicer Act (WV Codes ยง31-17A-2 […]
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Mississippi Modifies Provisions Regarding Real Property Identification Requirements
by: Matthew DaileyThe state of Mississippi modified its rules by clarifying required identifying information regarding what must be included in an instrument pertaining to real property that is presented to the applicable chancery court clerk for recording. The information relates to the name, mailing address and telephone number of every grantor, grantee, borrower or other […]
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Wyoming Amends Provisions Regarding Notary Fees
by: Paul McSheffreyWith Enrolled Act No. 26, the Legislature of the State of Wyoming has amended its rules regulating notaries. The Act amends W.S. 34-26-302(a)(i) through (vii) to increase the amount of fees that a notarial officer may charge. Several notarial acts are affected including taking an acknowledgment, administering an oath or affirmation without a […]
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Fannie Mae Updates Servicing Policy and Clarifies Quality Control
by: Anna DeSimoneMarch 14, 2014 Freddie Mac issued a Single Family Update regarding its quality control process. Changes apply to two areas: first, permitting sellers to submit missing and incomplete documents during performing loan (PL) reviews; and second, refinement of Freddie Mac’s targeted PL sampling methodology. The update encourages Seller/Servicers to refer to Industry Letter […]
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Montana Amends Loan Originator Licensing Requirements and Clarifies Various State Regulations
by: Nicole LegereIntroduction The state of Montana’s Department of Administration (the Department) amended a number of requirements regarding the licensing of mortgage loan originators. These amendments are the result of the conforming of state licensing laws to those under the Nationwide Mortgage Licensing System (NMLS). In addition, the state also clarified important lending definitions, and […]
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Fannie Mae Updates Servicing Policy and Clarifies Quality Control
by: Anna DeSimoneFebruary 14, 2014, Fannie Mae issued Ann. SVC-2014-04: Miscellaneous Servicing Policy Updates. This Announcement clarifies and updates policies regarding: Individual mortgage loan files Servicing quality control reviews Final requests for reimbursement Attorney expense Transfer of variances and waivers This article covers the information pertaining to Individual mortgage loan files and Quality Control. Please […]
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CFPB Recovers $1 Million+ for Servicemembers and Veterans Interagency Servicing Guidance
by: Anna DeSimone March 6, 2014 the Consumer Financial Protection Bureau (CFPB) announced that servicemembers, veterans, and their families who complained to the Bureau about financial products or services have recovered more than $1 million. The relief was reported in the CFPB’s second snapshot of complaints from military consumers, which also highlighted how some military […]
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FDIC and Agencies Update Exam Procedures for Mortgage Rules
by: Anna DeSimoneFebruary 25, 2014 the FDIC released revised interagency consumer compliance examination procedures for the Dodd-Frank-Act mortgage rules that took effect last month. The procedures were developed in coordination with other members of the Federal Financial Institutions Examination Council. The Financial Institution Letter applies to all FDIC-supervised institutions. The release of these examination procedures […]
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FinCEN Finalizes AML Regulations for Housing Government Sponsored Enterprises
by: Anna DeSimoneFebruary 25, 2014 the Federal Register,Vol. 79, No. 37 published the Final Rule requiring that the Housing GSEs (Fannie Mae, Freddie Mac, and the 12 Federal Home Loan Banks) file Suspicious Activity Reports (SARs) directly with FinCEN instead of the current practice of filing less detailed reports through their regulator, the Federal Housing […]