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Published: May 2018

FHFA announces major upgrades to mortgage application process for LEP borrowers

Consumer Action joined advocates in applauding the Federal Housing Finance Agency (FHFA) in its efforts to improve its affordable housing goals and to reach underserved communities.

The Federal Housing Finance Agency (FHFA), along with Fannie Mae and Freddie Mac, have launched a multi-year plan to improve the ability of mortgage-ready limited English proficiency (LEP) borrowers to understand and participate in all facets of the mortgage life cycle. The Plan was developed based on research conducted in 2017, including an ongoing collaborative effort with Consumer Action, Americans for Financial Reform and other coalition advocates, to identify major obstacles for LEP borrowers in accessing mortgage credit and to identify potential solutions. 

More Information

For more information, please visit the Federal Housing Finance Agency.

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