Here's what originators need to know to best serve their clients.. In 2018, FHFA directed Fannie Mae and Freddie Mac to launch the plan to help limited English- speaking borrowers understand and participate in. Lenders can take advantage of the Spanish-language resources to educate their LEP loan applicants.
Ellie Mae’s new Encompass release emphasizes HMDA, digital mortgages Loan officers at VanDyk have already begun offering AccountChek as an alternative to manual, paper-based asset verification. In addition, borrowers can choose AccountChek as a faster alternative to uploading bank statements when using VanDyk’s self-service mortgage portal, powered by Ellie Mae®’s Encompass Consumer Connect.
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These Spanish Language Resources for Lenders can help you serve this market. This page consolidates spanish versions of many loan origination documents such as the loan application, loan estimate, verification forms, closing disclosure, mortgage and note, plus includes links to many other helpful mortgage resources-all in one place.
FHFA collaborates with Fannie, Freddie to launch resource for non-English proficient borrowers. The process of applying for a home loan can be confusing and tedious, especially for those who may not call English their first language.
Both resources will help more spanish-speaking borrowers access. center commends FHFA for innovating and launching the Mortgage. This new tool demonstrates FHFA's commitment to fair lending and will serve as an.
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WASHINGTON, Oct. 15, 2018 (GLOBE NEWSWIRE) — The Federal Housing Finance Agency (FHFA), Freddie Mac (OTCQB:FMCC), and Fannie Mae (FNMA/OTC) together announce the launch of Mortgage Translations – a centralized clearinghouse of online resources to assist lenders, servicers, housing counselors, and other real estate professionals in serving limited English proficient (LEP) borrowers.
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FHFA launches resources for lenders serving Spanish-speaking borrowers The Federal Housing Finance Agency (FHFA), Freddie Mac and Fannie Mae have collaborated to launch a centralized clearinghouse of online resources to assist lenders, servicers, housing counselors and other real estate professionals in serving limited english proficient (lep) borrowers called Mortgage Translations.