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May 25, 2017
FHFA requests input on language challenges to credit access
The Federal Housing Finance Agency is requesting public input on issues facing qualified mortgage borrowers with limited English proficiency (LEP) and how credit access for such borrowers could be improved.
The deadline for input is July 10. NAFCU will submit a comment letter.
FHFA's 2017 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions requires Fannie Mae and Freddie Mac to identify credit access obstacles for LEP borrowers. The scorecard also requires the agency to analyze possible solutions and develop a multi-year plan for the government-sponsored enterprises to address the issue. The goal of this request for input is to identify the appropriate next steps for the GSEs and FHFA to undertake in helping LEP borrowers understand the mortgage process.
The FHFA released the scorecard, which outlines GSE priorities for 2017, in December.
The deadline for input is July 10. NAFCU will submit a comment letter.
FHFA's 2017 Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions requires Fannie Mae and Freddie Mac to identify credit access obstacles for LEP borrowers. The scorecard also requires the agency to analyze possible solutions and develop a multi-year plan for the government-sponsored enterprises to address the issue. The goal of this request for input is to identify the appropriate next steps for the GSEs and FHFA to undertake in helping LEP borrowers understand the mortgage process.
The FHFA released the scorecard, which outlines GSE priorities for 2017, in December.
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