Translated Residential Mortgage Loan Forms and Pre-Foreclosure Notices

Translated Residential Mortgage Loan Forms

Starting January 1, 2019, a financial organization that negotiates a residential mortgage loan or the modification of a residential mortgage loan primarily in Spanish, Chinese, Tagalog, Vietnamese, or Korean is subject to new translated disclosure requirements. (SB 1201 (Chapter 356, Statutes of 2018); Civil Code section1632.5).

The Loan Estimate and Closing Disclosure Forms

In circumstances where federal law requires a Loan Estimate or Closing Disclosure form to be provided to a borrower (see 12 C.F.R. § 1026.19(e) and (f)), a financial organization that negotiates a residential mortgage loan primarily in Spanish, Chinese, Tagalog, Vietnamese, or Korean must provide a translated version of these forms to the borrower in the language that the loan was negotiated. In accordance with Civil Code section 1632.5, below are translations of these forms.

Translated Consumer Finance Protection Bureau Loan Estimate Form (English, PDF)

Translated Consumer Finance Protection Bureau Closing Disclosure Form (English, PDF)

The Good Faith Estimate Form

For loans where the Loan Estimate or Closing Disclosure forms are not required, a financial organization that negotiates a residential mortgage loan primarily in Spanish, Chinese, Tagalog, Vietnamese, or Korean must provide a translated version of the Good Faith Estimate Form to the borrower in the language that the loan was negotiated no later than three days after receipt of the written loan application. In accordance with Civil Code section 1632.5, below are translations of this form.

Translated Good Faith Estimate Form (English, PDF)

Loan Modifications

For loan modifications negotiated in Spanish, Chinese, Tagalog, Vietnamese, or Korean, a financial organization must provide a borrower a translated version of one of the Fannie Mae loan modification forms at the time the loan modification offer is made. In accordance with Civil Code section 1632.5, below are translations of the Fannie Mae loan modification forms:

Translated Fannie Mae Loan Modification Form (fixed interest rate) (English, PDF)

Translated Fannie Mae Loan Modification Form (adjustable interest rate) (English, PDF)

Translated Fannie Mae Mortgage Modification, Re-amortization or Extension Form (English, PDF)

Licensees should review Civil Code section 1632.5 to ensure compliance with specific timing and disclosure requirements.

Translated Pre-Foreclosure Notices

Mandatory Statement at Beginning of Notice of Default and Notice of Sale

Civil Code section 2923.3 requires a mortgagee, trustee, beneficiary, or authorized agent to include the following statement in English, Korean, Chinese, Spanish, Tagalog, and Vietnamese at the beginning of a Notice of Default and a Notice of Sale. ( A Word version of the statement is available through this link.)

NOTE: THERE IS A SUMMARY OF THE INFORMATION IN THIS DOCUMENT ATTACHED
注:本文件包含一个信息摘要
참고사항: 본 첨부 문서에 정보 요약서가 있습니다
NOTA: SE ADJUNTA UN RESUMEN DE LA INFORMACIÓN DE ESTE DOCUMENTO
TALA: MAYROONG BUOD NG IMPORMASYON SA DOKUMENTONG ITO NA NAKALAKIP
LƯU Ý: KÈM THEO ĐÂY LÀ BẢN TRÌNH BÀY TÓM LƯỢC VỀ THÔNG TIN TRONG TÀI LIỆU NÀY

Mandatory Summaries of Key Information to Accompany Notice of Default and Notice of Sale

Civil Code section 2923.3 further requires a mortgagee, trustee, beneficiary, or authorized agent to provide mortgagors or trustors with an attached separate “Summary of Key Information” in English, Korean, Chinese, Spanish, Tagalog, and Vietnamese when providing the copy of the Notice of Default or the copy of the Notice of Sale.

Below are translations of the “Summary of Key Information” that must be attached to the Notice of Default.

  • English
    (revised 10-17)
  • Chinese
    (revised 11-18)
  • Korean
    (revised 11-18)
  • Spanish
    (revised 11-18)
  • Tagalog
    (revised 11-18)
  • Vietnamese
    (revised 11-18)

Below are translations of the “Summary of Key Information” that must be attached to the Notice of Sale.

  • English
    (revised 10-17)
  • Chinese
    (revised 11-18)
  • Korean
    (revised 11-18)
  • Spanish
    (revised 11-18)
  • Tagalog
    (revised 11-18)
  • Vietnamese
    (revised 11-18)