4 months ago
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The U.S. Department of Housing and Urban Development (HUD) on Wednesday announced that it has released five new language translations for 19 separate single-family mortgage documents used for Federal Housing Administration (FHA)-insured mortgage servicing.
The new translations — which are available in Chinese, Korean, Spanish, Tagalog and Vietnamese — are accessible from FHA’s language access webpage and are designed to “assist lenders, servicers, housing counselors, and other FHA program participants in explaining information related to FHA-insured mortgages to those with limited English proficiency prior to the execution of these documents in English, as required by law.”
This latest set of translations expands the availability of “40 previously published translated mortgage origination documents and homeownership education resources,” the department stated, and will help to remove language barriers in accessing FHA-insured mortgage financing.
“At HUD, we are working to ensure that homeownership is accessible to everyone who wants it — particularly for first-time homebuyers,” HUD acting secretary Adrianne Todman said in a statement. “To do that, we must make sure everyone has access to information about our programs. This common-sense action will help families achieve their dream of owning a home. Today, we are taking a crucial step towards a more inclusive, diverse, and equitable generation of homeowners.“
FHA Commissioner Julia Gordon said that these newly translated resources will be a valuable tool for helping more borrowers “understand the options for purchasing a home and for accessing assistance if an existing borrower has difficulty in making their mortgage payments.”
“With almost 60 mortgage documents translated into multiple languages, we now have a comprehensive collection of translated tools and resources for our program partners to use to more effectively reach those whose first language is not English,” Gordon added.
A full list of the newly translated documents is available on HUD’s website.
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