Freddie Mac And FHFA Announce Mortgage Translations
Freddie Mac and the Federal Housing Finance Agency have announced a new platform to help mortgage professionals assist homebuyers who are not proficient in English. The new platform is called Mortgage Translations and serves as a pretty big game changer in terms of helping more clients find their homes.
Highlights of Mortgage Translations:
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.
The release also revealed that translated documents in Chinese, Vietnamese, Korean and Tagalog will be added to the platform over the next couple of years.
To learn more about the Mortgage Translations platform, click on the image above.