FHFA, GSEs Launch Clearinghouse of Translated Mortgage Materials

Housing GSEs Fannie Mae and Freddie Mac, along with the Federal Housing Finance Agency, today launched Mortgage Translations, an online clearinghouse of more than 220 mortgage resources translated into Spanish. The clearinghouse is designed to help lenders, servicers, housing counselors and other real estate personnel better serve borrowers with limited English proficiency.

Resources available initially include the Uniform Residential Loan Application, a mortgage assistance application and the Consumer Financial Protection Bureau’s home loan toolkit — plus a one-for-one Spanish-English glossary of key mortgage terms. The first phase of the clearinghouse features Spanish-language documents, but the GSEs and FHFA said they would add resources in Chinese, Vietnamese, Korean and Tagalog in the coming years.