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ARTICLE · 20 AUGUST 2019

URLA Preferred Language Question — More Flip-Flopping

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Mandatory use of the redesigned URLA was originally set for February 2020.

United StatesFinance and Banking
Laurence E. Platt
Laurence E. Platt
Tori K. Shinohara
Tori K. Shinohara
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The saga over whether to include a controversial "preferred language" question on the new redesigned Uniform Residential Loan Application (URLA) continues. Last week, the Federal Housing Finance Agency (FHFA) changed course yet again and decided to remove the language preference question from the redesigned URLA. Instead, the question will be moved to a separate, optional consumer information form that will not be part of the URLA.

The preferred language question would ask all mortgage applicants (using the GSEs' form) to indicate their language preference when completing the application. The history of this controversial question dates back several years. We previously commented on developments related to the preferred language question in July 2017 and October 2017. In August 2016, the FHFA decided not to move forward with a plan to include a language preference question in the redesigned URLA due, in part, to strong industry opposition. A year later,

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