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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Federal Regulators Provide Guidance on Qualified Mortgage Fair Lending Risks
by: Anna DeSimoneOctober 22, 2013,Five federal regulatory agencies issued a statement to address industry questions about fair lending risks associated with offering only Qualified Mortgages. Those agencies are:Board of Governors of the Federal Reserve SystemConsumer Financial Protection BureauFederal Deposit Insurance CorporationNational Credit Union AdministrationOffice of the Comptroller of the Currency According to the CFPB, creditors have […]
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Colorado Repeals Various Provisions and Adopts New Amended Provisions Regarding Professional Standards and Mortgage Call Reports
by: Lee GreenbergThe Colorado Division of Real Estate recently repealed several provisions and adopted new amended provisions in their place regarding the professional standards of Mortgage Loan Originators and Mortgage Companies. In addition, the Division of Real Estate updated its provisions regarding call reports under the NMLS. The new legislation becomes effective on November 14, […]
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California Enacts Provisions Regarding Furnishing Consumer Credit Reports on Adverse Action
by: Lee GreenbergThe state of California recently enacted provisions to the Civil Code regarding the furnishing of consumer credit reports following an adverse action in Assembly Bill No. 1091. The legislation becomes effective on January 1, 2014.Under existing state law, a consumer credit reporting agency is required to allow the consumer to visually inspect all […]
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Nebraska Amends Mortgage Licensing Act & Modifies Broker Provisions
by: Matthew DaileyTwo legislative bills approved by the governor of Nebraska earlier this year will go into effect on October 4, 2013. Legislative Bill 290 revised the Residential Mortgage Licensing Act primarily by changing provisions relating to notice requirements of a licensee. Legislative Bill 279 essentially redefined what constitutes a loan broker in Nebraska. Legislative […]
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Freddie Mac Addresses Ability to Repay, Quality Control and Other Rules
by: Anna DeSimoneOctober 1, 2013, Freddie Mac issued an Industry Letter Information Relating to the CFPB Final Rule on Ability to Repay. On August 20, 2013, Freddie Mac issued Single-Family Seller/Servicer Guide Bulletin 2013-16, which announced its new purchase eligibility requirements in response to the final rule issued by the Consumer Financial Protection Bureau (CFPB) […]
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Fannie Mae Addresses Ability to Repay, QC and Operational Controls
by: Anna DeSimoneOctober 1, 2013, Fannie Mae released Lender Letter #2013-07: Quality Control and Additional Information Related to the Ability to Repay and Qualified Mortgage Requirements. At the direction of the Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac have worked together to formulate and align on certain requirements that address the Consumer […]
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Louisiana Amends and Reenacts Provisions Relating to Blighted Property and Health, Housing, Fire Code, Environmental, and Other Ordinance Violations-Senate Bill No. 51
by: Louis Danastorg Louisiana’s Legislature has recently acted to amend and reinstitute provisions relating to administrative adjudication procedures regarding blighted property and health, housing, fire code, environmental, or other ordinance violations. In Louisiana any municipality or parish may prescribe civil fines for property declared blighted or violations of public health, housing, fire code, environmental and […]
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Delaware Amends Laws Relating to Foreclosures
by: Louis DanastorgDelaware has recently amended titles 10 and 29 of the Delaware Code regarding its real estate foreclosure proceedings. Plaintiffs to a mortgage foreclosure involving an owner-occupied one-to-four family primary residence must wait 45 days before filing the action after sending a Notice of Intent to Foreclose to the borrower. Such notice may only […]
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California Modifies Provisions of the Financial Code Relating to Mortgage Lenders
by: Lee GreenbergThe state of California recently modified several provisions of the Financial Code relating to mortgage lenders in Assembly Bill No. 1091. The legislation becomes effective on January 1, 2014.Assembly Bill No. 1091 includes the following amendments to the Financial Code: Under the existing law, California business and industrial development corporations, licensed pawnbrokers and […]
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North Carolina Amends its Anti-Predatory Lending Law – House Bill 692
by: Louis DanastorgRecently, North Carolina amended its anti-predatory lending laws to make them no more restrictive than federal lending regulations, having been concerned anti-predatory lending laws in North Carolina had become burdensome to instate lenders. First, the General Assembly revised its consideration of the points and fees, mortgage finance charges, assessed to a borrower as […]