Maybe your market includes clients for whom English is a second language, or you have the Certified International Property Specialist (CIPS) designation, and the bulk of your sales comes from foreign buyers.
If so, both audiences may appreciate being able to navigate the loan process in their native languages.
The Mortgage Translations clearing house (https://bit.ly/3dGiBMZ), developed by the Federal Housing Finance Agency (FHFA), Fannie Mae, and Freddie Mac, provide loan documents in multiple languages:
- English
- Spanish
- Chinese
- Vietnamese
- Korean
- Tagalog
The site includes the Uniform Residential Loan Application, interpretative services, glossaries, and educational resources — guidance on the home buying process, building credit, and understanding mortgages.
And for clients experiencing challenges paying their mortgages because of COVID-19, the Mortgage Translations site also includes forbearance resources (https://bit.ly/2IFQySl).
Borrowers can find interpretive services and educational materials to help them understand their options, as well as the Mortgage Assistance Application, a form they can submit to their loan servicer about their mortgage payment challenges.
