February 19, 2018 | Mortgage Compliance

Servicing Borrowers with Limited English Proficiency

1 min

"Servicing Borrowers with Limited English Proficiency" article by Venable partners, Andrew Arculin and Gerald Sachs, was published in Mortgage Compliance on February 19, 2018. Here is an excerpt:

As the LEP population grows and credit becomes more available, every servicer should consider how it can minimize risk related to servicing loans held by LEP borrowers, whether such loans are advertised and originated in English or in a foreign language. Understanding the issues and having a compliance plan may minimize the risk associated with serving LEP borrowers. How to best position your business to prevent discrimination or other claims related to the treatment of LEP borrowers depends on many factors, including among others, federal and state laws relating to the language in which the loan was advertised, originated, and serviced.