New mortgage application form unveiled with no language preference

Source: Ben Lane, HousingWire

Earlier this year, the Federal Housing Finance Agency (FHFA) ordered the government-sponsored enterprises to remove the language preference question and housing counseling information from the new URLA form, which is the standardized form used by borrowers to apply for a mortgage.

A group of nearly 20 prominent Senate Democrats, including five who are currently running for president, called on the FHFA to undo the alterations to the URLA, claiming the changes could reduce access to credit for mortgage borrowers who are already underserved.

Read Full Article: New mortgage application form unveiled with no language preference

 

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