Improving Language Access in Mortgage Servicing Act of 2024

HR 8252 requires mortgage lenders and servicers to provide language access services for borrowers with limited English proficiency. It mandates a standard language preference form for borrowers to indicate their preferred language, followed by translated versions of key mortgage documents (like loan terms) in the eight most common languages, plus four additional regional languages within three years. Lenders and servicers must also provide oral interpretation services in the borrower's preferred language and notify borrowers of available language resources. This directly affects millions of borrowers with limited English proficiency and all mortgage lenders or servicers handling residential loans.