FHA Requires Lenders to Use the Supplemental Consumer Information Form

On June 27, 2023, FHA announced it will require lenders to use the Supplemental Consumer Information Form (SCIF) when originating mortgages insured by FHA.  The SCIF has already been adopted for conventional mortgages, and it is used during the mortgage application process.  The SCIF allows borrowers to voluntarily indicate their language preferences and provide information regarding their level of homeownership education.  Borrowers are able to choose what information, if any, they disclose.  

The SCIF must be presented to borrowers seeking FHA-insured Title II forward mortgage financing.  The SCIF will be required for loan applications beginning on August 28, 2023.