The CFPB recently released a Spanish-language version of the model clauses for the mortgage servicing rules in Regulation X. These model clauses are a compliance aid provided to illustrate how a mortgage servicer can comply with the early intervention written notice content requirements.
Under the servicing rules, servicers can make required disclosures in any language, provided they are available in English upon request. In releasing this Spanish translation, the CFPB encourages mortgage servicers to identify a borrower’s preferred language and, where appropriate, provide translated materials in order to better assist the borrower.
A reprinted version of the model clauses, along with the Spanish translations, are available here.