Fannie and Freddie Partner to Offer Mortgage Documents En Español

Mortgage Banking, November 2006 | Go to article overview

Fannie and Freddie Partner to Offer Mortgage Documents En Español


Fannie Mae and Freddie Mac announced the joint availability of 83 non-executable Spanish translations of the Fannie Mae/Freddie Mac uniform instruments to help lenders and others in the residential mortgage industry better serve Spanish-language-dominant consumers in becoming homeowners.

The translations are meant to complement the English-language documents that a mortgage borrower would sign, the two GSEs noted.

The jointly owned translations of the uniform instruments are part of a commitment by both companies toward increasing the Hispanic homeownership rate, which currently stands at 50 percent, according to Mercy Jiménez, senior vice president at Fannie Mae.

"Our hope is that lenders and others in the mortgage industry find these Spanish-language translations helpful when working with potential homeowners who prefer to understand the homeownership process in Spanish-the language some are more comfortable speaking when making life-changing purchase decisions," said Jiménez.

"We encourage the distribution of these complimentary translations to Spanish-language-dominant consumers early in the home-buying process, so that potential borrowers can read the mortgage documents written in English with a side-by-side Spanish translation and better understand what they will sign at closing."

The effort also aims to expand homeownership access to minority and low- and moderate-income families, and close the gap between minority and non-minority homeownership rates, currently at 51 percent and 76 percent, respectively, explained Paul Mullings, senior vice president at Freddie Mac.

"The Spanish-language translations will help lenders and others in the industry better serve the growing Hispanic marketplace," said Mullings. "The mortgage process is daunting for anyone, but especially when the materials are not in your native language. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Fannie and Freddie Partner to Offer Mortgage Documents En Español
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.