Freddie Mac and Fannie Mae (the GSEs) have published the interactive (fillable) PDF versions of the redesigned Uniform Residential Loan Application (URLA) with an effective date of “09/2020”, along with corresponding supporting documents. These interactive forms comprise the final version of the loan application and are to be supported by the industry in system development and preparation of the redesigned URLA and updated GSE-specific automated underwriting system (AUS) specifications for the November 1, 2020 mandate.

Updated Redesigned URLA

The GSEs have published the following interactive components of the redesigned URLA (Freddie Mac Form 65 / Fannie Mae Form 1003):

  • Borrower Information
  • Additional Borrower
  • Unmarried Addendum
  • Lender Loan Information
  • Continuation Sheet

A detailed description of changes included on the interactive form is presented in Appendix 1.

Supporting Documents Published with this Announcement

The GSEs have updated and published the following URLA and the Uniform Loan Application Dataset (ULAD) supporting documents:

  • URLA Instructions – Provides joint GSE guidance for completing the URLA.
  • URLA Rendering Design Options – Describes form rendering design options and flexibilities for changing the style and formatting of the redesigned URLA and its components.
  • ULAD Mapping Document – Ties each data field on the URLA to equivalent data point(s) in the Mortgage Industry Standards Maintenance Organization’s Reference Model Version 3.4 (MISMO v3.4).
  • Comparison of Current vs. Redesigned URLA – Maps each field on the current URLA form to its equivalent field on the updated redesigned URLA. The document indicates field names that are the same as, slightly modified or deleted from, and added to the redesigned URLA.
  • FAQs – Lists frequently asked questions (FAQs) with new questions and updates in support of the changes made to the redesigned URLA and the GSEs AUS specs.
  • Numbered URLA Components – Updated the footer to match the effective date of the redesigned URLA.

Additional Information

The GSEs are on track to publish the Spanish Translation Aid to the redesigned URLA in the second quarter of 2020. A complete implementation timeline and the supporting materials referenced, can be accessed on Freddie Mac’s URLA web page and Fannie Mae’s URLA web page

We are committed to helping our customers and other industry stakeholders understand and adopt the updated redesigned URLA and AUS specifications. We will continue to work closely with lenders and technology solution providers to assist them throughout the implementation process.

If you have questions about the redesigned URLA, AUS Specifications, or supporting documents, please contact your GSE representative or email [email protected] or [email protected].

 

 

Appendix 1. Updated URLA Interactive Forms - High Level Field Functionality Differences

Along with the format and content updates to the redesigned URLA, certain functionality problems or inconsistencies with the interactive forms have been addressed. The following table identifies global changes (across all form components) to how certain fields can be completed.

table