November 9, 2011
FHFA Launches Website to Support Limited English Proficiency Borrowers
Buying a home can be overwhelming, especially for the more than 25 million people in the U.S. who may not be proficient in English. We’re pleased to offer a solution in easing the path to homeownership. Mortgage Translations is a new website – powered by the Federal Housing Finance Agency (FHFA) in collaboration with Freddie Mac and Fannie Mae – that serves as a centralized location of online resources to assist homebuyers in their language.
Lenders, Servicers, real estate and housing professionals can visit the website to:
- Address language barriers with a full suite of Spanish-translated mortgage and homeownership documents.
- Access an industry-standard glossary of mortgage-related terms to help Spanish-speaking borrowers.
- Review translated borrower educational resources to help homebuyers navigate the mortgage process.
In addition to other features, translated documents in Chinese, Vietnamese, Korean, and Tagalog will be added over the next two years.