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!