On May 3, 2022, the Federal Housing Finance Agency (“FHFA”) announced that the Supplemental Consumer Information Form (“SCIF”) will be required for loans sold to Fannie Mae and Freddie Mac starting with applications dated on or after March 1, 2023. The SCIF (Form 1103) collects information about a borrower’s language preference and any homeowner education or counseling that the borrower completed in the prior 12 months.
Borrower response to the language preference question is voluntary and lenders should accept the form from borrowers as provided. Borrowers may indicate a language preference, select that they do not wish to respond, or choose not to select an option. Borrowers should also be advised that any response will not negatively affect their mortgage application process. As part of the Fannie Mae and Freddie Mac Language Access Multi-Year Plan, lenders may advise that mortgage transactions are likely to be conducted in English and that identification of preferred language by the borrower does not mean that lenders are able to provide, or agree to provide, communications in that preferred language. Lenders are required to report any data collected to Fannie Mae or Freddie Mac when the loan is purchased. Language preference choices on the form include English, Chinese, Korean, Spanish, Tagalog, Vietnamese, or Other.
As part of the SCIF update, the form has been revised with an updated footer date of 05/2022. The SCIF model form and instructions can be found on both the Fannie Mae URLA webpage and the Freddie Mac URLA resource webpage.
DocMagic has provided the SCIF as an optional disclosure since October 2021 and released the updated version (rev. 05/2022) to production on June 2, 2022.
DocMagic has updated selection for the SCIF in our testing environment, so that the form will be provided for conventional and construction loans with an application date of March 1, 2023 or later in the same package types as the URLA: Application, Closing, Forms List, URLA, Initial, Pre-closing, Processing, and Underwriting. DocMagic will provide the SCIF.MSC for the same package types in production for conventional loans with an application date of March 1, 2023 or later.
FHFA’s Mortgage Translation website has made translated versions of the Uniform Residential Loan Application (“URLA”) available along with translated versions of the SCIF. The forms are now available in English, Spanish, traditional Chinese, Korean, Vietnamese and Tagalog. Translated versions of the SCIF are now available in production for optional use: Spanish (SCIFS.MSC), traditional Chinese (SCIFC.MSC), Korean (SCIFK.MSC), Tagalog (SCIFT.MSC), and Vietnamese (SCIFV.MSC).
If you would like to add the form to additional loan types or package types, or if you have additional questions, please contact DocMagic’s Customer Service.
