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:
-
Fannie Mae Issues Quality Control Self-Assessment Tool
by: Anna DeSimoneMay 9, 2013 Fannie Mae issued guidance for lenders to manage risk and comply with Fannie Mae’s Selling Guide requirements. The guidance includes highly suggested practices for quality control and includes an 8-page Quality Control Self-Assessment worksheet. With increased focus on QC during the manufacturing process, Fannie Mae has published additional guidance “Beyond […]
-
Oklahoma Amends Uniform Consumer Credit Code
by: Lee Greenberg, Esq.The state of Oklahoma recently amended several provisions of the Uniform Consumer Credit Code through the enactment of House Bill 1829. The new law has an effective date of July 1, 2013; however, the amendments are effective immediately under an emergency clause. House Bill 1829 updates the Uniform Consumer Credit Code […]
-
Freddie Mac Updates Servicing Requirements
by: Anna DeSimoneFreddie Mac recently issued two updates to its servicing guidelines: Bulletin 2013-3 on February 13, 2012 and Bulletin 2013-6: on April 15, 2013. Outlined below are the key points to the two bulletins: Bulletin 2013-3 (2/13/13) Effective on the date of the bulletin, Freddie Mae published the following updates and revisions to the […]
-
Fannie Mae Announces Servicing Revisions for Execution of Legal Documents
by: Anna DeSimoneOn April 17, 3013 Fannie Mae issued Servicing Announcement 2013-09, Execution of Legal Documents. The agency is revising several aspects of its execution of legal documents policy. This Announcement addresses policy changes related to: Quitclaim deedsLimited power of attorneyExecution of assumptionsReleases of securityExecuting legal documents Effective Date: Servicers are required to implement the […]
-
Fannie Mae Announces Servicing Rules for Delinquency Status Reporting
by: Anna DeSimoneOn April 10, 2013 Fannie Mae issued Servicing Announcement SVC-2013-08, Delinquency Status Reporting and Hierarchy. This Announcement provides new and updated policy requirements for the following: Introduction of a Delinquency Status Code Hierarchy, and Updates to Delinquency Status Code Definitions Effective Date: Servicers are encouraged to implement the new policies in this […]
-
Recent Changes to Mortgage Laws in Kansas and Idaho
by: Nicole Legere, Esq.Kansas Revisions to Mortgage Interest Rates Kansas Senate Bill 52 was recently passed to increase the maximum annual interest rate, from its previous limitation of no more than 1.5 percentage points, to no more than 3.5 percentage points above the specified monthly floating cap set by the Federal Home Loan Mortgaging Corporation. […]
-
Revisions to the Montana Mortgage Act
by: Nicole Legere, Esq.The state of Montana recently revised the Montana Mortgage Act to bring it into compliance with federal rules. These revisions include changes to mortgage broker/lender licensing requirements updates to licensing exceptions and educational requirements, as well as new additions to the reasons for license denial. These amendments shall be effective on October […]
-
HUD Launches Self-Endorsed FHA Lender Insurance Program for High-Performing Lenders
by: Anna DeSimone April 9, 2013, HUD issued Mortgagee Letter 2013-10 along with a Revised Lender Insurance Guide. The Mortgagee Letter explains enhancements to the Lender Insurance program based on a Final Rule published in the Federal Register on January 25, 2012. FHA’s Lender Insurance Program (LI) enables high-performing lenders to insure FHA forward […]
-
Utah Enacts Changes to Lender Licensing and Property Laws
by: Emily Ross, Esq.Changes to Lender Licensing Laws The Utah legislature recently amended the Utah Residential Mortgage Practices and Licensing Act by modifying requirements for licensure. In addition to other unchanged requirements, applicants for licensure as a residential mortgage lender must now authorize the division to obtain credit reports, which were not previously required. Also, […]
-
Recent Changes in Minnesota and Indiana Mortgage Law
by: Emily Ross, Esq. MinnesotaMinnesota recently amended the statutes controlling the procedure for release of mortgage liens on real property. In addition to small procedural changes to the statute, additional language was added to allow partial releases of liens to follow the same procedure as full releases. The statute states that a certificate of release […]