The Improving Language Access in Mortgage Servicing Act of 2024 requires mortgage lenders and servicers to provide language assistance to borrowers who prefer languages other than English. The bill requires lenders and servicers to include a standard language preference form with mortgage applications and notices, translate key mortgage documents into the eight most commonly spoken languages among people with limited English proficiency, and provide qualified interpreters for all communications with borrowers who request language services. Lenders and servicers must also notify borrowers within ten business days about available language services and transfer language preference information when loans are bought or serviced by other companies. The bill directs federal agencies to create a shared website providing translated documents, glossaries, and guidance for both the industry and consumers, and authorizes funding to train housing counselors in multiple languages. The bill's requirements take effect within 90 to 180 days for most provisions, with agencies required to submit annual reports to Congress on implementation progress.