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Home » Store » Inside The GSEs » FHFA Nixes URLA Language Preference Question

FHFA Nixes URLA Language Preference Question

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The Federal Housing Finance Agency concluded that adding a question about a borrower’s language preference on its updated Uniform Residential Loan Application form was probably not a good idea after all, at least for now. The URLA is an industry-standard loan application that has remained pretty much the same for the last two decades. The FHFA is charged with finalizing the redesigned application this summer to give lenders adequate time to prepare for the new form in January 2018.In an attempt to recognize the growing numbers of non-English speakers, the FHFA considered adding a question about the borrower’s primary language.
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