LEP Data Acquisition in Mortgage Lending Act

Bill: 116-hr-4783
Sponsor: full_name: Rep. Green, Al [D-TX-9]
Introduced: 2019-10-22
Policy area: Housing and Community Development
Subjects: Foreign language and bilingual programs

Government corporations and government-sponsored enterprises

Housing finance and home ownership

Housing industry and standards
Latest action: action_date: 2019-10-22
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2019-10-22
action_desc: Introduced in House
text: <p><b>LEP Data Acquisition in Mortgage Lending Act </b></p> <p>This bill directs the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to include an optional language-preference question on the Uniform Residential Loan Application. </p>

tv_txt: I 116th CONGRESS 1st Session H. R. 4783 IN THE HOUSE OF REPRESENTATIVES October 22, 2019 Mr. Green of Texas (for himself, Ms. Judy Chu of California , Ms. Garcia of Texas , and Mr. Clay ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To require the Director of the Federal Housing Finance Agency to require each enterprise to include a preferred language question on the form known as the Uniform Residential Loan Application, and for other purposes.

1. Short title This Act may be cited as the LEP Data Acquisition in Mortgage Lending Act . 2. Preferred language question Subpart A of part 2 of subtitle A of title 13 of the Housing and Community Development Act of 1992 ( 12 U.S.C. 4541 et seq.) is amended by adding at the end the following: 1329. Uniform Residential Loan Application (a) In general The Director shall, not later than February 1, 2020, require each enterprise to include a preferred language question, that is optional for borrowers, on the form known as the Uniform Residential Loan Application and include such question in the form in which it was presented for inclusion on the Uniform Residential Loan Application by the Federal Housing Finance Agency on October 20, 2017 as also written in subsection (b). (b) Form of Question The preferred language question on the Uniform Residential Loan Application shall read as follows: Language Preference—Your loan transaction is likely to be conducted in English. This question requests information to see if communications are available to assist you in your preferred language. Please be aware that communications may NOT be available in your preferred language. Optional—Mark the language you would prefer, if available: English — Chinese — Korean — Spanish — Tagalog — Vietnamese — Other — I do not wish to respond. Your answer will NOT negatively affect your mortgage application. Your answer does not mean the Lender or Other Loan Participants agree to communicate or provide documents in your preferred language. However, it may let them assist you or direct you to persons who can assist you. Language assistance and resources may be available through housing counseling agencies approved by the U.S. Department of Housing and Urban Development. To find a housing counseling agency, contact one of the following Federal Government agencies: U.S. Department of Housing and Urban Development (HUD) at (800) 569–4287 or www.hud.gov/counseling. Consumer Financial Protection Bureau (CFPB) at (855) 411–2372 or www.consumerfinance.gov/find-ahousing-counselor. (c) Response data Any response of a borrower to the question described in subsection (a) shall be recorded by the mortgage originator of the borrower and such mortgage originator shall transfer the record of such response to any person who purchases or services the mortgage of the borrower. .