Mortgage application. (Source: Shutterstock)
A decision by the Federal House Finance Agency to abandon a language preference question on the Uniform Residential Loan Application was applauded by credit union trade organizations but condemned by consumer groups.
The FHFA announced in 2017 that it would add the language question to the Uniform Residential Loan Application. The agency last week said it would make changes to the form, including dropping the language question, and that the deadline for its mandatory use would be pushed back.
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