WASHINGTON—The Federal Housing Finance Agency has extended the deadline from July 10 to July 31 for comments due on its request for input on improving access to credit for qualified mortgage borrowers with limited English proficiency.
The agency announced the RFI May 25. The purpose of the RFI is to help FHFA learn more about the procedures and tools that loan originators, servicers, and other parties in the mortgage lending process presently employ to assist LEP borrowers; identify existing requirements, including laws and regulations that guide practices for interacting with LEP borrowers; and better understand the challenges in effectively servicing this population, NAFCU explained.
NAFCU, CUNA, and several other trade groups last week wrote FHFA urging an extension of the July 10 comment deadline.