Enterprises Announce Requirement to Use the Supplemental Consumer Information Form

On May 3, 2022, Fannie Mae and Freddie Mac (the Enterprises) announced at the direction of FHFA, that the Supplemental Consumer Information Form (SCIF, or Freddie Mac/Fannie Mae Form 1103) will be required as part of the application process for loans sold to the Enterprises with application dates on or after March 1, 2023.  The Enterprises first published the SCIF in October 2021.  The form is designed to collect information about the borrower’s language preference, if any, and on any homebuyer education or housing counseling the borrower received. 

In addition to making use of the SCIF mandatory, the Enterprises announced technical updates to the form and provided an overview of the AUS specification changes necessary to support the new requirement.  Borrowers still are not required to respond to the preferred language question in the SCIF.  FHFA also reported in its press release that CFPB Director Rohit Chopra welcomes the announcement and assures lenders that collecting applicants’ language preference does not violate ECOA or its implementing regulations.