Freddie, WKFS Forge Bilingual Alliance

More lenders will be able to use new bilingual tools designed to bring Spanish-speaking borrowers to the marketplace thanks to a partnership between Freddie Mac and Wolters Kluwer Financial Services, Minneapolis.WKFS said the effort is in the initial stages of preparing bilingual mortgage documents and developing educational brochures that are expected to help reduce barriers to understanding the mortgage lending process. The company's loan origination system provider, Dynatek, is one of the partners involved in selecting and inserting data into various conventional mortgage loan documents. In addition to bilingual origination and loan closing documents created in collaboration with Freddie Mac, the informational brochure, "A Home Buyer's Guide to the Mortgage Process and Paperwork," will also be available to customers. Freddie Mac vice president Tricia McClung said Freddie is working with lenders "to help them increase homeownership among the fastest-growing segment of the population, Hispanic-Latino families."