Site visitors now can 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 also is 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,” FHFA Director Mark Calabria said in a news release.
The Mortgage Translations website, an FHFA collaboration with Fannie Mae and Freddie Mac, 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, a step-by-step guide to apply for or refinance a mortgage, and a glossary of mortgage terminology. All documents currently are available in Spanish, traditional Chinese and, as of April, Vietnamese.
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