ML 2023-13 – FHA Requires Supplemental Consumer Information Form
On June 27, 2023, the U.S. Department of Housing and Urban Development (“HUD”) and Federal Housing Administration (“FHA”) published Mortgagee Letter 2023-13, Supplemental Consumer Information Form (“SCIF”), which requires a new disclosure.
Beginning with any mortgage application dated on or after August 28, 2023, mortgagees are required to obtain the Fannie Mae/Freddie Mac Form 1103, SCIF, at the time of application for an FHA-insured mortgage. Borrowers are permitted to provide their mortgagees with none, some, or all of the information requested in the SCIF.
FHA Announces Language Access Resources
On June 13, 2023, the Federal Housing Administration announced the availability of multilingual educational material on its new Language Access Resources webpage. The webpage houses more than 40 single-family homeownership documents, such as required notices, in Chinese, Korean, Spanish, Tagalog, and Vietnamese.
This is not a new disclosure requirement. Rather, several of the currently required disclosures are now available to be provided in various languages (listed below).
(1) HUD Addendum to Uniform Residential Loan Application (Form HUD-92900-A)
(2) Important Notice to Homebuyers (Form HUD-92900-B)
(3) Informed Consumer Choice
(4) Borrower’s Contract with Respect to Hotel and Transient Use of Property (Form HUD- 92561)
(5) For Your Protection, Get a Home Inspection (Form HUD-92564-CN)
(6) Borrower’s Certification of Water Purification System
(7) 203(k) Borrower’s Acknowledgement (Form HUD-92700-A)
(8) HECM Anti-Churning Disclosure (Form HUD-92901(Reverse Mortgage)
(9) Rehabilitation Loan Agreement