Sec. 2. Preferred language question
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Subpart A of part 2 of subtitle A of title 13 of the Housing and Community Development Act of 1992 ( 12 U.S.C. 4541 et seq.) is amended by adding at the end the following: The Director shall, not later than February 1, 2020, require each enterprise to include a preferred language question, that is optional for borrowers, on the form known as the Uniform Residential Loan Application and include such question in the form in which it was presented for inclusion on the Uniform Residential Loan Application by the Federal Housing Finance Agency on October 20, 2017 as also written in subsection (b).
The preferred language question on the Uniform Residential Loan Application shall read as follows: Language Preference—Your loan transaction is likely to be conducted in English. This question requests information to see if communications are available to assist you in your preferred language. Please be aware that communications may NOT be available in your preferred language. Optional—Mark the language you would prefer, if available: English — Chinese — Korean — Spanish — Tagalog — Vietnamese — Other — I do not wish to respond.
Your answer will NOT negatively affect your mortgage application. Your answer does not mean the Lender or Other Loan Participants agree to communicate or provide documents in your preferred language. However, it may let them assist you or direct you to persons who can assist you. Language assistance and resources may be available through housing counseling agencies approved by the U.S. Department of Housing and Urban Development. To find a housing counseling agency, contact one of the following Federal Government agencies:
U.S. Department of Housing and Urban Development
(HUD)at
(800)569–4287 or www.hud.gov/counseling. Consumer Financial Protection Bureau
(CFPB)at
(855)411–2372 or www.consumerfinance.gov/find-ahousing-counselor. Any response of a borrower to the question described in subsection
(a)shall be recorded by the mortgage originator of the borrower and such mortgage originator shall transfer the record of such response to any person who purchases or services the mortgage of the borrower. .
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Sec. 2
Preferred language question
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