The Federal Housing Finance Agency has reopened and extended the deadline of its request for information on how to serve borrowers with limited English proficiency to Sept. 31. The original comment period officially closed on July 31.
In a joint comment letter this week, ABA cautioned FHFA on including a language preference question on its Universal Residential Loan Application form, noting that it could create significant liability for lenders. The association also outlined several principles for assessing the impact of language barriers on LEP borrowers going forward. For more information, contact ABA’s Joe Pigg.