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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Freddie Mac Updates Servicing Rules and Increases Foreclosure Timelines in 34 States
By Anna DeSimone October 14, 2015, Freddie Mac Issued Bulletin 2015-18: Servicing. This Single-Family Seller/Servicer Guide (“Guide”) Bulletin announced: State foreclosure time lines and compensatory fees Increased State foreclosure time lines in 34 jurisdictions Extension of the temporary suspension of the assessment and billing of State foreclosure time line compensatory fees announced in Bulletin 2014-19 […]
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Fannie Mae Updates Servicing Rules and Foreclosure Timelines
By Anna DeSimoneOctober 14, 2015, Fannie Mae Issued Ann. SVC-2015-13: Servicing Guide Updates (Revised). Key topics of the announcement are highlighted below. The Servicing Guide has been updated to include the following: Updates to Short Sale Access Requirements Updates to Property Inspection Frequency Updates to Lender-Placed Insurance Requirements Revisions to Breach/Acceleration Letter Content Requirements Clarifications […]
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CFPB Provides Guidance on Marketing Services Agreements
By Anna DeSimoneOctober 8, 2015 the Consumer Financial Protection Bureau (CFPB) issued a bulletin providing guidance to the mortgage industry regarding marketing services agreements. The bulletin Highlights Risks of Agreements Violating Federal Prohibition on Mortgage Kickbacks. The press release is reproduced below:The bulletin offers an overview of the federal prohibition on mortgage kickbacks and referral […]
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Utah Adopts Provisions Regarding Residential Mortgage Practices and Licensing Rules
By Laura McCarthy, J.D.Effective immediately, the Utah Department of Commerce, Division of Real Estate has adopted provisions including, but not limited to, changes to existing sections regarding entity registration, instructor registration as well as licensee conduct. The changes to the Utah Residential Mortgage Practices and Licensing Rules are as follows:Section R162-2c-201 Registering entities must list […]
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Fannie Mae and Freddie Mac Issue TRID Advisories
By Anna DeSimone October 6, 2015, Fannie Mae issued LL-2015-06: Information Related to Know Before You Owe TILA-RESPA Integrated Disclosures. The letter was sent to all Single Family Sellers at the direction of the Federal Housing Finance Agency. Also on this date and at the direction of the FHFA, Freddie Mac issued an Industry Letter […]
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FDIC Issues Supervisory Expectations for Implementing TRID
By Anna DeSimone October 2, 2015 the FDIC issued FIL-43-2015 to provide guidance on its initial supervisory expectations in connection with its examinations of financial institutions for compliance with the TILA – RESPA Integrated Disclosure Rule (TRID) effective October 3, 2015.Statement of Applicability to Institutions Under $1 Billion in Total Assets: This Financial Institution Letter […]
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Montana Adopts Rule Temporarily Reducing Licensing Renewal Fees
By Brian CastineEffective as of September 25, 2015 the Department of Administration of the State of Montana has enacted a rule that temporarily reduces licensing renewal fees for 2016. This rule expires on March 17 2016. The department has amended ARM 2.59.1738, as proposed on July 30, 2015. The licenses that are the subject of […]
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HUD Sets New Standards for Energy Efficient Homes Stretch Ratio Policy
By Anna DeSimoneSeptember 30, 2015, HUD issued Mortgagee Letter 2015-22, New Standards for Energy Efficient Homes (EEH) “Stretch Ratio” Policy: Incorporating the Department of Energy’s (DOE) Home Energy Score.PurposeThis Mortgagee Letter updates the Federal Housing Administration’s (FHA) EEH program, minimum energy efficiency standard, to the most recent International Energy Conservation Code (IECC) adopted by HUD […]
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Fannie Mae Updates HomeReady Mortgage and other Selling Guide Topics
By Anna DeSimone September 29, 2015, Fannie Mae issued SEL-2015-10: Selling Guide Updates. The Selling Guide has been updated to include changes to the following: HomeReady™ Mortgage Homeownership Education and Housing Counseling High-Balance Mortgage Loan Eligibility Non-Occupant Borrower Policies in Desktop Underwriter® Miscellaneous Selling Guide Updates Key highlights of the update are reproduced from the […]
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Conference of State Bank Supervisors and AARMR Issue Examination Guidance
September 29, 2015By Anna DeSimoneSeptember 29, 2015 the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) issued an industry bulletin from the Multi-state Mortgage Committee (MMC). The bulletin was issued to mortgage lenders in order to make their supervisory expectations regarding the use of electronic examination tools clear. […]