Freddie, VMP Provide Bilingual Forms

Freddie Mac and VMP Mortgage Solutions Inc., a Bankers Systems Inc. company, have formed a joint initiative designed to provide mortgage lenders with tools that develop bilingual, state-specific security instruments, notes, and other mortgage documents in English and Spanish.The initiative will also provide bilingual consumer education brochures that address the mortgage process. The companies said the documents will include a primer on the importance of credit and flow into a series of bilingual brochures that explain the lending process. The educational materials will be based on content from Freddie Mac's CreditSmart Español consumer financial literacy curriculum. The materials will be provided by VMP to lenders and by Freddie Mac to community organizations. The materials will also address common misconceptions about banking and homeownership, as well as help consumers better understand their rights and responsibilities, the companies said. The forms will be available in both printed and electronic formats. The companies can be found on the Web at http://www.freddiemac.com and http://www.vmpmtg.com.