October 17, 2019 | Housing Wire
According to Cortez Masto’s office, the senators believe the decision to move those sections to a separate form “could
reduce access to mortgage financing for limited-English proficient mortgage-ready homebuyers
and lead to serious financial repercussions.”
The changes, specifically the removal of the language preference question, were supported by the Mortgage Bankers Association and other groups.
“As you recall, MBA opposed the inclusion of the language preference question in the URLA because of the customer relations issues the question would cause if lenders could not actually serve borrowers in their preferred language, and due to unresolved operational and legal questions raised by the language preference information,” MBA President and CEO Bob Broeksmit said in a letter to MBA members earlier this year.