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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CFPB Outlines Next Priority Areas for Enforcement and Supervision
In a speech to the Mortgage Bankers Association October 25, Consumer Financial Protection Bureau Director Richard Cordray highlighted three priority areas for enforcement and supervision in the next year.
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NCUA Launches Interactive Online Examination Guide
October 24, 2016, the National Credit Union Administration (NCUA) launched the online Examiner’s Guide, which is an interactive tool allowing examiners to provide up-to-date, comprehensive supervisory guidance on certain regulatory and supervisory issues affecting credit unions.
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CFPB Issues Updated TRID Compliance Guides
October 2016, the Consumer Financial Protection Bureau (CFPB) published two updated guides pertaining to the Truth in Lending Integrated Disclosure (TRID) rule, a Guide to Forms booklet and a Small Entity Compliance Guide. The Small Entity Compliance Guide reflects a number of changes made since the original publication was issued in April 2014.
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HARP Extended through September 2017, Streamlined Refinance Program for High LTV Borrowers Announced
August 25, 2016, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (the Enterprises), at FHFA’s direction, will implement a new refinance offering aimed at borrowers with high loan-to-value (LTV) ratios. The FHFA announcement is provided below:
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CFPB Finalizes New Servicing Rules, Expands Foreclosure Protections
August 4, 2016 the Consumer Financial Protection Bureau (CFPB) finalized new rules under RESPA and Truth in Lending. The final rule amends certain mortgage servicing rules issued in 2013.
Amendments to the 2013 Mortgage Rules under the Real Estate Settlement Procedures Act (Regulation X) and the Truth in Lending Act (Regulation Z) -
CFPB Outlines Foreclosure Prevention Guiding Principles
August 2, 2016 the Consumer Financial Protection Bureau (CFPB) outlined consumer protection principles to guide mortgage servicers, investors, government housing agencies, and policymakers as they develop new foreclosure relief solutions.
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North Carolina Updates Filing Fees
Effective October 1st, 2016 general assembly of North Carolina session 2015 session law 2016-86 senate bill 19 S19-v-5 updates fees for filing a deed of trust so that they are compliant with the Truth in Lending Act.
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FHA Publishes Lender Insight, Highlights Quality Control Findings
Since its launch Lender Insight has featured quarterly loan level findings data by presenting the initial ratings of all loans along with the updated ratings as of six months from the end of the review period. Additionally, for the past year, each of the top 50 by volume lenders has received an individualized loan review findings report depicting a quarter-by-quarter snapshot of the results of FHA’s post-endorsement technical review of the company’s loan production.
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FHA Publishes Update to Handbook 4000.1
June 30, 2016, HUD issued a Transmittal Memorandum to the following entities: All FHA Approved Mortgagees All Direct Endorsement Underwriters All FHA Roster Appraisers All FHA Roster Inspectors All FHA Approved 203(k) Consultants All HUD Approved Housing Counselors All HUD Approved Nonprofit Organizations All Governmental Entity Participants All Real Estate Brokers All Closing Agents The […]
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South Carolina Revises Consumer Protection Codes
The state of South Carolina General Assembly 121st Session, 2015-2016, enacted provisions regarding its Consumer Protection Code. These provisions cover a wide array of changes and are effective immediately. Selected changes can be found below, see bottom for state link. SECTION 1. Section 37-1-201(1) of the 1976 Code This provision amends the definition of a […]