Or. Rev. Stat. Ann. § 86A.198 requires lenders/brokers to provide certain material to the borrower in English and in the language other than English in which a substantial portion of the communication that is related to the transaction takes place. Those materials are:
(a) A good faith estimate required under the Real Estate Settlement Procedures Act, 12 U.S.C. 2601 et seq., and under Regulation X, 24 C.F.R. part 3500, as enacted or promulgated on January 1, 2010;
(b) The disclosures related to the transaction that are required under the Truth in Lending Act, 15 U.S.C. 1601 et seq., and under Regulation Z, 12 C.F.R. part 226, as enacted or promulgated on January 1, 2010; and
(c) A statement notifying the borrower that loan documents associated with the transaction will be in English and advising the borrower to obtain appropriate assistance with any necessary translations. (ORS § 86A.198)
ORS § 86A.198(3) instructs the Director of the Department of Consumer and Business services to develop translation materials identified in subsection (2) in the three languages other than English that are most commonly spoken in Oregon. Accordingly, Oregon has published the required materials in Russian, Spanish, and Vietnamese.
The Division of Financial Regulations website states:
Because the CFPB’s rules affect the key disclosures required to be translated in ORS 86A.198, the department implemented a rule, OAR 441-865-0060, that ensures that consumers continue to receive the new key disclosure in the language used in the transaction. As a result, for loans originated on or after Oct. 3, 2015, the consumer must be provided the following documents translated into the language used in the transaction:
For loans subject to the TILA/RESPA Integrated Loan Disclosures:
- The Loan Estimate
- The Closing Disclosure
- The general disclosure
For loans not subject to the TILA/RESPA Integrated Loan Disclosures:
- The general disclosure
The appropriate Spanish disclosures are available when “Use Spanish Docs?” (Field 32770) contains “Yes”. Unfortunately, ConformX does not support non-Latin characters at this time, so the Russian and Vietnamese documents are not available. For Oregon Initial Disclosure packages that have Loan Translation Aid Language (Field 118830) set to “Vietnamese” or “Russian,” the following data integrity Warning will now fire:
Under Or. Rev. Stat. Ann. § 86A.198, Russian, Spanish, and Vietnamese forms provided by the Oregon Department of Consumer and Business Services are required for loans conducted primarily in these languages. Although available on the Oregon website, the Russian and Vietnamese language documents are not supported in ConformX. Please contact Support at 1.800.497.3584 to request an interim solution.
This DI Check will be in place on May 30, 2018. If you have any questions or concerns about this change, please contact Client Support at 1.800.497.3584.
Update 6/18/2018: D.I. check 96482 has been modified to also trigger in the Redisclosure, Pre-Closing, and Closing package types.