HR 3009 · 117th Congress · Finance and Financial Sector
Improving Language Access in Mortgage Servicing Act of 2021
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Placed on the Union Calendar, Calendar No. 281.(2022-06-15)
Plain Language Summary
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Improving Language Access in Mortgage Servicing Act of 2021 This bill establishes language translation requirements related to residential mortgage applications and servicing. The Consumer Financial Protection Bureau (CFPB) must create a standard language preference form. Creditors and servicers must provide this form to consumers along with residential mortgage applications and certain notices related to a mortgage loan. Upon notice of a consumer's language preference, creditors and servicers must provide (1) oral interpretation services; and (2) translated documents, if available. The CFPB and the Federal Housing Finance Agency must publish translated documents used in association with a residential mortgage.…
Summarized by Claude AI · Non-partisan · For informational purposes only
CBO Cost Estimate
Congressional Budget OfficeH.R. 3009, Improving Language Access in Mortgage Servicing Act of 2021
Mar 8, 2022As ordered reported by the House Committee on Financial Services on May 12, 2021
Full CBO report ↗Official non-partisan budget analysis by the Congressional Budget Office