Introduction to the New 1003 URLA

The Redesigned URLA is Here

At the first of the year, Fannie Mae and Freddie Mac rolled out the redesigned Uniform Residential Loan Application (URLA), along with new automated underwriting system (AUS) specifications for DU and LPA.
Get the full rundown on the form updates, which aim to:

• Help lenders more easily capture relevant loan application information
• Support the exchange of data and digitize the loan origination process

On March 1, 2021, the new URLA becomes mandatory for agencies on all applications. But, we’re ahead of the curve, accepting electronic applications with the new form starting February 26th, 2021. View this video to see the major changes so you are ready before the competition!
[btn link="https://cms.carringtonwholesale.com/urla-video" color="paleVioletRed" size="size-l"]Watch the Video[/btn]
 

Resources

• Joint Announcement - Are you Ready?
• Fannie Mae URLA Website
  • Fannie Mae Flyer with links to Resources
• Freddie Max URLA Website
  • Freddie Mac URLa Fact Sheet - Detail Planning and Break Down