On May 3, 2022, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac will require use of the Supplemental Consumer Information Form (SCIF) beginning March 1, 2023. Intended to improve the lender’s understanding of the borrower’s needs, the SCIF collects information related to both the borrower’s language preference and any homebuyer education and/or housing counseling received by the borrower. Per the FHFA, while the borrower’s response to the questions presented on the SCIF is voluntary, the lender is required to present the SCIF to the borrower and present any data collected to the purchaser (i.e., Fannie Mae or Freddie Mac).
