Removal of URLA Language-Preference Question Sparks Controversy
Scotsman Guide, Aug. 14, 2019–Arnie Aurellano
Implementation of the redesigned Uniform Residential Loan Application has been delayed due to changes to questions regarding the applicant’s language preferences. Some industry organizations, including the Mortgage Bankers Association, asked FHFA to reconsider, claiming that it would subject lenders to practical issues related to communicating in an applicant’s preferred language, as well as legal risks if they are unable to do so.
