A&B ABstract: The Federal Housing Finance Agency has expanded the number of languages for which it provides translated documents as part of its Mortgage Translations clearinghouse.

On September 30, the Federal Housing Finance Agency (“FHFA”) announced that it has added Korean, Tagalog, and Vietnamese language resources to its Mortgage Translations clearinghouse. The update represents the first since October 2019, when the FHFA added Mandarin Chinese documents to the clearinghouse (which also includes Spanish translations).

The FHFA first launched Mortgage Translations two years ago. According to the 2018 announcement, the FHFA intends the site to provide “a centralized source of industry-standard resources to assist lenders, servicers, housing counselors, and other real estate professionals in serving borrowers with limited English proficiency (LEP). “ In its most recent expansion, the FHFA also added to the clearinghouse industry resources relating to oral interpretation services, including for languages for which translated documents are not available.

Takeaway:

The final anticipated expansion of the Mortgage Translations site gives servicers access to needed resources to assist LEP consumers.

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