Articles
Improving Mortgage Servicing for Borrowers with Limited English Skills
Mortgage industry regulators mandate that mortgage lenders and servicers must treat all borrowers fairly and provide equal access to services regardless of the consumer’s ability to speak English proficiently. As the United States continues to slowly emerge from the shadow of the COVID-19 pandemic, borrowers who may have forestalled default actions are now facing the end of forbearance programs. To provide better customer service and comply with regulations and guidelines, mortgage servicers must be prepared to meet the needs of borrowers with limited English proficiency (LEP). Servicers should know the rules, share language resources with LEP borrowers, and use the language preference indicator in mortgage servicing software.