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 Register Publishes Final ATR and QM Standards under TILA
by: Anna DeSimoneJune 12, 2013 the Federal Register published the Final Rule by the Consumer Financial Protection Bureau, Ability-to-Repay and Qualified Mortgage Standards Under the Truth in Lending Act (Regulation Z)The Bureau of Consumer Financial Protection (Bureau) is amending Regulation Z, which implements the Truth in Lending Act (TILA). Regulation Z generally prohibits a creditor […]
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CFPB Releases Exam Procedures for New Mortgage Rules
by: Anna DeSimoneJune 4, 2013 the Consumer Financial Protection Bureau (CFPB) published the first update to its exam procedures for the new mortgage regulations it issued in January 2013. The exam procedures offer financial institutions and mortgage companies valuable guidance on what the CFPB will be looking for as the rules become effective. The new […]
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CFPB Amends Rule Regarding Electronic Fund Transfer Act
by: Donna M. Saati, Esq.On May 22, 2013, the Bureau of Consumer Financial Protection (“CFPB” or the “Bureau”) amended its regulation which implements the Electronic Fund Transfer Act (“EFTA”), and the official interpretation to the regulation (the “2013 Final Rule”). The 2013 Final Rule refines three (3) narrow aspects of prior final rules issued on […]
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Colorado Modifies Provision Regarding Legal Descriptions on Real Estate Documents
by: Lee Greenberg, Esq.The state of Colorado recently modified a provision regarding the preparation of instruments affecting real estate and the legal description of property through the enactment of House Bill 13-1307. The new law has an effective date of August 7, 2013, unless a petition is filed against the law within ninety days of […]
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NCUA Announces Technical Changes to Regulations
by: Anna DeSimone May 31, 2013 the Board of the National Credit Union Administration (NCUA) announced a number of technical amendments to NCUA’s regulations. The final rule was based on issues identified by staff and through NCUA’s rolling, three-year regulatory review process. In addition, the Board is making a number of nomenclature changes to NCUA’s […]
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CFPB Amends Ability-to-Repay Rule
by: Anna DeSimoneOn May 29, 2013 the Consumer Financial Protection Bureau (CFPB) finalized rules regarding the Ability-to-Repay rule. The CFPB created specific exemptions and modifications to the Ability-to-Repay rule for small creditors, community development lenders, and housing stabilization programs. The May 29th rule amends the CFPB’s Ability-to-Repay rule finalized on January 10, 2013. The amendments […]
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Missouri Modifies Provisions Regarding Real Estate Loan Reporting
by: Lee Greenberg, Esq. The state of Missouri recently modified several provisions regarding the reporting of residential real estate loans through the enactment of Senate Bill No. 235. The new law has an effective date of August 28, 2013. The current law requires the directors of the Division of Finance and the Division of Credit […]
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Changes and Additions to Vermont’s Foreclosure Mediation Program
by: Emily Ross, Esq.With House Bill 431, the Vermont Legislature recently made changes to the Vermont mediation program established in 2010 to comply with the mediation requirement of HAMP. HAMP, or the Home Affordable Modification Program is a federal program set up as a result of the mortgage crisis that allows homeowners having trouble paying […]
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Indiana Enacts Senior Consumer Protection Act
by Zachary Pearlstein, Esq.The state of Indiana has recently expanded The Senior Consumer Protection Act, with revisions that become effective on July 1, 2013. The new provisions simplify and modernize the law, with the goal of protecting senior consumers from financial exploitation from persons who, by deception or intimidation, obtain control over the property or […]
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Fannie Mae & Freddie Mac Will Only Purchase Qualified Mortgages in 2014
by: Anna DeSimoneOn May 2, 2013, the Federal Housing Finance Agency (FHFA) directed Freddie Mac and Fannie Mae (“GSEs”) to limit future purchases to:Mortgages that are “qualified mortgages” under the final rule, including those meeting the special or temporary qualified mortgage requirements Mortgages that are exempt from the ability to repay requirements, such as investor […]