Translations of Mortgage Disclosures

ORS 86A.198

Oregon law requires translation of certain mortgage disclosure documents. This requirement applies to any mortgage lending transaction occurring on or after January 1, 2010. When a mortgage banker, mortgage broker, or mortgage loan originator advertises or solicits a loan in a language other than English, and conducts a significant part of the communication about a mortgage loan in that language, they must provide the borrower with all three of the following disclosures translated in the language they are using:

When a mortgage banker, mortgage broker or mortgage loan originator advertises or solicits a loan in a language other than English, and conducts a significant part of the communication about a mortgage loan in that language, they must provide the borrower with all three translated disclosures:

• The federal "good faith estimate" as required by the Real Estate Settlement Procedures Act (RESPA);
• the Truth in Lending Act (TIL) disclosures; and
• A statement explaining that the actual loan documents will only be provided in English and advising the borrower to obtain assistance, if necessary, with any necessary translations.

Mortgage bankers, mortgage brokers, and mortgage loan originators are required to use these translated disclosures only if they advertise, negotiate the terms, or receive an application for a residential mortgage loan (secured by one to four residential dwelling units) in a language other than English. A mortgage banker, mortgage broker, or mortgage loan originator who does business only in English is not affected by this law.

DCBS provides the required documents translated in the three most commonly spoken languages in Oregon other than English:

*NOTE: The Federal Reserve has updated the Truth-in-Lending disclosure (TIL) with interim rules to comply with the Mortgage Disclosure Improvement Act of 2008 (MDIA). As of 01/31/2011, the Spanish and Vietnamese translations have has been updated. An updated Russian translation of the TIL will be available shortly.

Russian translations
General Disclosure
GFE
TIL

Spanish translations
General Disclosure
GFE
TIL

Vietnamese translations
General Disclosure
GFE
TIL