The Federal Housing Finance Agency (FHFA), Fannie Mae, and Freddie Mac announced last week in a press release that traditional Chinese language resources would be added to the agency’s Mortgage Translations Clearinghouse. The addition of Chinese to FHFA’s language access program has been a long-awaited victory in AREAA’s efforts to advocate for AAPI homebuyers with Limited English Proficiency (LEP).
According to AREAA’s State of Asia America Report, nearly five million Chinese Americans live in the United States, making up 23% of the collective AAPI population.
To better serve your real estate clients, please utilize the FHFA Mortgage Translations website to access translated documents, a glossary of terms, and other mortgage-related resources. You can access these resources and more by clicking on the button below.