The Federal Housing Finance Agency (FHFA) directed the government-sponsored enterprises (GSEs) Thursday to remove the required Limited English Proficiency (LEP) question from its redesigned Uniform Residential Loan Application (URLA) and automated underwriting system.
Consequently, FHFA and the GSEs said they will extend the URLA compliance deadline beyond the Feb. 1, 2020, effective date.
Find out how the GSEs will gather borrower language information going forward.