On October 20, 2017, the Federal Housing Finance Agency (FHFA) announced its controversial decision to add a preferred language question to the revised Uniform Residential Loan Application (URLA). After receiving more than 200 public comments in response to its Request for Information, the FHFA decided to include a revised version of the question, despite concerns raised by many in the mortgage industry. This Legal Update provides the full text of the revised question and discusses the industry’s concerns.
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