Fannie Mae-No Politics (FNMA)

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FHFA Adds Language-Preference Question to New Loan Application Despite Industry Opposition

IMFnews ... Monday, Oct 30, 2017 ... By Carisa Chappell ... [e-mail]



Despite opposition from industry members worried about possible legal implications, the Federal Housing Finance Agency decided to add a language-preference question to a redesigned mortgage application form that will be required for GSE loans come February 2020.

The FHFA said the new question will help borrowers who prefer to communicate in a language other than English. The Fannie Mae/Freddie Mac regulator also said the revision is part of a broader, multi-year effort to improve language access for limited English proficiency (LEP) borrowers.

“Let me assure you that every concern expressed was taken very seriously and that the process of exchanging views was essential to advancing FHFA’s thinking and the wording itself,” said FHFA Director Mel Watt.

The final version of the redesigned URLA will be published later this year and lenders can begin using it in July 2019.


will be published later this year and lenders can begin using it in July 2019.