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Question:  What is the Supplemental Consumer Information Form, when will it be required, and how does it relate to a lender collecting information about an applicant’s language preference during the loan origination process?

Answer:  The Supplemental Consumer Information Form (“SCIF”) will be required as part of the application process for loans that will be sold to Fannie Mae and Freddie Mac. The purpose of the SCIF is to collect information about the consumer’s language preference and any homebuyer education or housing counseling that the consumer completed in the prior 12 months. Language preference choices on the form include: English, Chinese, Korean, Spanish, Tagalog, Vietnamese, or Other.  Responses by consumers to the preferred language question will be voluntary.  However, lenders will need to report any data collected from the SCIF to the appropriate agency (Fannie Mae or Freddie Mac) purchasing the loan.

Lenders must begin utilizing the SCIF and implement the reporting requirements for loans with application dates on or after March 1, 2023.

In July 2022, the Federal Housing Finance Agency, Fannie Mae, and Freddie Mac added the updated SCIF (Fannie Mae/Freddie Mac 1103) to the Mortgage Translations website. The form is available in English, Spanish, traditional Chinese, Vietnamese, Korean, and Tagalog.

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