Tag Archives: LEP

CFPB 2

News Release: CFPB Proposed Rule Requiring Language Access in Mortgage Servicing Will Help Homeowners Avoid Foreclosure

The Language Access Task Force of Americans for Financial Reform, a coalition of fair housing and civil rights organizations, applauds Wednesday’s announcement from the Consumer Financial Protection Bureau (CFPB) proposing rules that would ensure that borrowers with limited English proficiency (LEP) have a meaningful opportunity to seek assistance from their mortgage companies in times of distress, helping them stay in their homes. The proposal, which includes additional improvements to the general hardship assistance process, follows a petition from the National Consumer Law Center (NCLC) urging the Bureau to include language access in the mortgage rule.

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.

a house behind bushes

Letters to Congress: Letter in Support of the Improving Language Access in Mortgage Servicing Act of 2021

The Americans for Financial Reform (AFR) Language Access Task Force and partner organizations sent a letter to the House Financial Services Committee in support for HR 3009, the Improving Language Access in Mortgage Servicing Act of 2021. 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. The Improving Language Access in Mortgage Servicing Act will make important strides in improving access to the mortgage market and increasing awareness of the availability of assistance for homeowners who are struggling to keep up with their mortgage payments, which is especially critical during the ongoing COVID-19 pandemic.