May 03, 2022

Brown Applauds FHFA for Recommitting to Collecting Language Preference and Counseling Information

Today, U.S. Sen. Sherrod Brown (D-OH), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, released the following statement applauding the Federal Housing Finance Agency’s (FHFA) announcement that it would require mortgage lenders to collect key information on a borrower’s language preference and housing counseling history as part of the mortgage loan application.

“Today’s action from FHFA is a long-overdue step to ensure that our housing system serves all eligible homebuyers. I applaud Acting Director Thompson for taking this important action to improve the mortgage process.” 

Today’s announcement comes after Democrats pushed FHFA to make the questions a mandatory part of the Uniform Residential Loan Application (URLA).