On May 3, 2022, The Federal Housing Finance Authority announced that Fannie Mae and Freddie Mac (the Enterprises) will require lenders to use the Supplemental Consumer Information Form (SCIF) as part of loans sold to the Enterprises. The SCIF is used to collect information about the borrower’s language preference and on homebuyer education or counseling received by the borrower. The SCIF will be required to be provided for loans with application dates on or after March 1, 2023.
The announcement from FHFA can be accessed at this link: FHFA Announces Mandatory Use of the Supplemental Consumer Information Form | Federal Housing Finance Agency.
Docutech is monitoring this change and will release more information as it is published by FHFA and the Enterprises. Future system modifications will be announced on our website. (https://compliance.docutech.com/).