A redesigned mortgage application first unveiled last year by the government-sponsored enterprises has received a safe-harbor blessing from the Consumer Financial Protection Bureau.
In August 2016, Fannie Mae and Freddie Mac revealed a redesigned Uniform Residential Loan Application. It was the first time in more than two decades that the form was redesigned.
On Friday, Fannie and Freddie, under the conservatorship of the Federal Housing Finance Agency, issued an update to the application that included an additional question about an applicant’s language preference.
Source: Mortgage Daily