CNDC-004 Supplemental Consumer Information Form Requirement Reminder

FLCBank reminds our customers that the Supplemental Consumer Information Form (SCIF Fannie Mae/Freddie Mac Form 1103) will be a required document in the loan file for conventional loans with application dates on or after March 1, 2023. Any data provided on the SCIF must also be included in each GSE’s AUS submission file.

The SCIF supports lenders in collecting borrower(s) preferred language, applicable homeownership education, and housing counseling details.

Language Preference – The lender must present the SCIF to one borrower on the loan application and ask the borrower to provide a preferred language for completing the loan transaction. The borrower is not required to select any of the language options in the “Language Preference” section, including “I do not wish to respond.” For loans with multiple borrowers, the lender may determine whether to present the SCIF to more than one borrower and include more than one SCIF in the loan file. It is up to the lender to decide when to present the SCIF.
Homeownership education and housing counseling information – The GSEs have not changed any of their Guide requirements for homeownership education and housing counseling information collection. If the loan offered to the borrower(s) requires homeownership…..