FHFA Makes Translated COVID-19 Resources Available in Six Languages on LEP Site
COVID-19 Servicing Scripts and Mortgage Assistance Application translations now available
FOR IMMEDIATE RELEASE
6/16/2020
Washington, D.C. – To help limited English proficiency (LEP) borrowers who are experiencing mortgage-related difficulties due to the coronavirus national emergency, today the Federal Housing Finance Agency (FHFA) added new translations to the Mortgage Translations website. Site visitors can now choose English, Spanish, traditional Chinese, Vietnamese, Korean, or Tagalog when accessing scripts that servicers use when discussing COVID-19 forbearance with borrowers. The revised Mortgage Assistance Application (MAAp) is also available in the same six languages.
“Publishing the scripts servicers use when discussing forbearance in six languages will allow borrowers with limited English proficiency to better understand the mortgage relief options available to them during the pandemic,” said Director Mark Calabria.
The Mortgage Translations website, a collaboration where FHFA has joined with Fannie Mae and Freddie Mac (the Enterprises), contains resources designed to assist lenders, servicers, housing counselors, and others in helping LEP borrowers navigate the mortgage process. Resources available on the website include the Uniform Residential Loan Application (URLA), a step-by-step guide to apply for or refinance a mortgage, and a glossary of mortgage terminology. All documents are currently available in Spanish, traditional Chinese and, as of April, Vietnamese.
For additional information about the assistance and protections provided by the Federal government during the pandemic, please visit CFPB.gov/housing.
MORTGAGE TRANSLATIONS HOME
Welcome to the Mortgage Translations clearinghouse, an easy-to-use collection of translated documents and tools to assist lenders, servicers, housing counselors, and others in helping mortgage borrowers who have limited English proficiency (LEP). Created by FHFA, Fannie Mae, and Freddie Mac in collaboration with industry, consumer, and government partners, the Mortgage Translations clearinghouse contains resources such as translated documents, borrower education materials, a standardized glossary of mortgage terms, and more.
The site currently contains documents and resources in Spanish, traditional Chinese, and Vietnamese. Materials in other languages will be added through 2020. See the Language Access Multi-Year Plan (published May 2018) for more details.