Sec. 3. Preferred language of consumer
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/bill/115/hr/3015/ih/section-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 129B of the Truth in Lending Act ( 15 U.S.C. 1639b ) is amended by adding at the end the following: In any application used by a mortgage originator for a residential mortgage loan, the originator shall ask the consumer to state the consumer’s preferred language. A mortgage originator for a residential mortgage loan shall— accept letters of explanation for origination in the consumer’s preferred language; and include any such letters in the consumer’s file. Any time a mortgage originator assigns a residential mortgage loan or contracts with a servicer with respect to a residential mortgage loan, the originator shall inform the assignee or servicer of the consumer’s preferred language reported under paragraph
(1)and provide the assignee or servicer with any letters of explanation for origination described under paragraph (2). .
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Sec. 3
Preferred language of consumer
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