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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North Carolina Corrects and Amends the Notary Public Act
by: Louis DanastorgOn June 18th, 2013 North Carolina’s General Assembly ratified corrections and amendments to the Notary Public Act. Within North Carolina notaries public facilitate the recording of security instruments affecting real property with the Registry of Deeds. Typically notaries public will perform signature acknowledgements, administer oaths and affirmations, and verify or prove signatures presented […]
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North Carolina Enacts Modifications to its Consumer Finance Act
by: Louis Danastorg North Carolina’s Consumer Finance Act allows banks and non-banking institutions to make consumer loans under $10,000; now $15,000-reminiscent of predatory “payday” loans and cash advances, which are currently banned in the state. Consumer finance lenders typically offer scaled interest rate schemes and shorter loan terms, collecting various additional fees that drive up […]
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Fannie Mae Revises Lender Quality Control Requirements
by: Anna DeSimoneJuly 30, 2013 Fannie Mae published SEL-2013-SEL-05 to announce changes to Lender Quality Control Requirements and miscellaneous Selling Guide Updates. The updates for quality control are summarized below. The Guide has been updated to describe the following key elements that Fannie Mae requires lenders to include in their QC programs and practices: […]
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CFPB Issues New Guidance on Mortgage Servicing Rules
by: Anna DeSimoneIn June 2013, the CFPB issued a Small Entity Compliance Guide for Mortgage Servicing Final Rules. The guide was published with the notice that the CFPB proposes to amend the final rules issued January 17, 2013, which are set to take effect on January 10, 2014. The CFPB is amending Regulation X, which […]
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North Carolina Amends SAFE Act
by: Louis Danastorg North Carolina’s General Assembly Amends the Secure and Fair Enforcement Mortgage Licensing Act to Provide for the Licensure of a Transitional Mortgage Loan Originator Earlier this July, North Carolina’s General Assembly amended a number of NC SAFE provisions related and applying to applications for the licensure of transitional mortgage loan originators filed […]
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Hawaii Adopts Uniform Mediation Act
by: Nicole LegereHawaii recently adopted the Uniform Mediation Act in order to address a number of different issues related to the mediation process. The rules adopted will govern mediation agreements and referrals made on or after July 1, 2013. As of January 1, 2014 all mediation agreements, whenever made, will be governed by the Uniform […]
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Delaware Amends Clean Credit and Identity Theft Protection Act
by: Louis Danastorg An Act to Amend Title 6 of the Delaware Code Relating to the Clean Credit and Identity Theft Protection As of November 2007 the three major credit bureaus began offering to all consumers the ability to freeze, and otherwise lock, his or her credit report in every state, regardless of any applicable […]
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Pennsylvania Modifies Mortgage and Conveyancing Provisions
by: Lee Greenberg Provisions Regarding Mortgage Loans The state of Pennsylvania recently modified several provisions regarding mortgage loans in House Bill 1124. The legislation becomes effective on August 31, 2013. House Bill 1124 provides new definitions for the following terms: Administrative or clerical tasks; application; bona fide nonprofit organization; branch; branch manager; commercial context; commission; […]
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Texas Supreme Court Issues Decision Clarifying Home Equity Lending
by: Nicole LegereThe Texas Supreme Court issued an opinion on June 21, 2013 which addresses three different issues raised in regard to home equity loans. Under Article XVI Section 50 of the Texas State Constitution, a forced sale, in order to repay a home equity loan, is allowed only if the loan meets certain requirements. […]
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CFPB Finalizes Clarifications to Mortgage Rules
by: Anna DeSimoneJuly 10, 2013 the Consumer Financial Protection Bureau (CFPB) finalized corrections, clarifications, and amendments to its Ability-to-Repay and mortgage servicing rules. These clarifications were first proposed in April 2013 and reflect the Bureau’s commitment to facilitating implementation in order to better protect consumers. Please refer to my article dated 5/29/13: CFPB Amends Ability-to-Repay […]