Tag Archives: language access

News Release: Advocates Welcome Mandatory Collection of Language Preference Data by Fannie Mae and Freddie Mac

WASHINGTON, D.C. – Americans for Financial Reform, the Connecticut Fair Housing Center, Consumer Action, National Coalition for Asian Pacific American Community Development (National CAPACD), the National Consumer Law Center, the National Fair Housing Alliance, National Housing Resource Center, and UnidosUS celebrate today’s decision by Fannie Mae and Freddie Mac (the Enterprises), that will require lenders selling loans to the Enterprises to collect information on borrowers’ preferred language, as well as any housing counseling services they’ve used.

Letters to Congress: Letter in Support of Two Language Access Bills

AFR organized a letter of support for two bills expanding and improving language access for mortgage transactions that will make important strides in improving access to the mortgage market and awareness of the availability of assistance for homeowners who are struggling to keep up with their mortgage payments. LEP borrowers face many challenges that impede their full participation in the consumer marketplace, including, specifically, their ability to obtain and preserve ownership of a home. Tracking and transferring the language preference of LEP borrowers and enhancing the availability and use of services and resources in their preferred languages will significantly improve market access for LEP borrowers at all stages of a mortgage loan.

Letters to Regulators: Comment Letter to the CFPB on the Equal Credit Opportunity Act

AFREF and 47 organizations submitted comments on the CFPB’s RFI on the Equal Credit Opportunity Act (ECOA) and Regulation B. Our comments urged the Bureau to take no action that would weaken the ECOA in any way and consider certain steps to improve and strengthen fair lending protections under ECOA to make it stronger and more effective tool for fighting credit discrimination.