FHFA launches resources for lenders serving Spanish-speaking borrowers

FHFA launches resources for lenders serving spanish-speaking borrowers Warren 0 Comments Contents Finance agency (fhfa Limited english proficient (lep) borrowers proficient (lep) borrowers.

Selling loans to the GSEs allows the community bank to retain the servicing on those loans, thereby keeping their relationship with that borrower. Loans that are. with final approval by FHFA. *.

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transactions. We applaud FHFA for creating the Mortgage Translations clearinghouse for spanish language documents and resources this past year. The expanded Spanish glossary and Spanish translated documents in the clearinghouse are a valuable resource for Spanish-speaking borrowers and the loan officers and advocates who serve them.

CFPB’s Glossary of English-Spanish Financial Terms. Spanish speaking borrowers represent one of the largest growing segments of the mortgage market. These Spanish Language Resources for Servicers can help you serve this market.

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WASHINGTON, Oct. 15, 2018 /PRNewswire-HISPANIC PR WIRE/ – The Federal Housing Finance Agency (FHFA), Freddie Mac (OTCQB:FMCC), and Fannie Mae (OTC Bulletin Board: FNMA) 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.

FHA Loans – Widely popular and considered by many to be the best first time mortgage loan, the FHA is an easy to qualify for loan that offers great terms. This includes a low down payment requirement of 3.5%, and fair credit is allowed (580 or higher).

Keynote Presentation: Sandra Thompson, Federal Housing Finance Agency "This online resource will educate, engage and better assist LEP borrowers when shopping for a mortgage." About FHFA The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and.

FOR IMMEDIATE RELEASE: Oct. 16, 2018 CONTACTS: Carter Dougherty, Americans for Financial Reform, carter@ourfinancialsecurity.org, (202) 251-6700 Jan Kruse, jkruse@nclc.org, (617) 542-8010 Public Interest Groups Applaud FHFA Move to Expand Resources for LEP Borrowers (Leer en Espaol) WASHINGTON, D.C.-