this U.S. Department of Housing and Urban Development (HUD) announced Wednesday that it has released five new language translations for 19 separate single-family mortgage loan documents used to federal housing administration (FHA) insured mortgage loan servicing.
The new translation, available in Chinese, Korean, Spanish, Tagalog and Vietnamese, is accessible from the FHA’s language access webpage and is designed to “help lenders, servicers, housing counselors and other FHA program participants explain their interactions with the FHA RELATED INFORMATION – Mortgage insurance is provided to persons with limited English proficiency before these documents are signed in English as required by law.
The department said this latest set of translations expands the availability of “40 previously released translated mortgage origination documents and home ownership education resources” and will help eliminate the need to obtain Federal Housing Administration (FHA)-insured mortgage financing. language barrier.
“At HUD, we are working hard to ensure that everyone who wants it can own a home, especially first-time homebuyers,” HUD Acting Secretary Adrianne Todman said in a statement. “To do that, we must ensure that everyone who wants it can own a home.” Everyone has access to information about our programs. This common-sense action will help families realize their dream of homeownership. Today, we are taking a critical step toward a more inclusive, diverse, and equitable generation of homeowners.
FHA Commissioner Julia Gordon said these newly translated resources will be a valuable tool in helping more borrowers “understand their options for purchasing a home and for obtaining assistance when existing borrowers struggle to make their mortgage payments.”
Gordon added: “We have translated nearly 60 mortgage documents into multiple languages and now have a comprehensive suite of translation tools and resources for our program partners to use to more effectively reach people whose first language is not English.”
A complete list of new translation documents can be found on the HUD website.
