On January 1, 2021, Freddie Mac and Fannie Mae (the GSEs) began accepting redesigned Uniform Residential Loan Applications (URLA) and Loan Product Advisor® (LPASM) v5.0.06 file submissions. Lenders have the option of using either the legacy or redesigned URLA and associated file formats during the Open Production Period, which began January 1 and concludes February 28, 2021.

Mandate

The mandate for implementing the redesigned URLA is March 1, 2021. The GSEs fully expect that new loan applications started on or after March 1 will be submitted using the redesigned URLA and LPA v5.0.06 / DU MISMO v3.4 file formats.

Freddie Mac and Fannie Mae have not described how a lender should determine the “loan application start date.” However, the expectation is that the lender will apply its chosen definition consistently.

The GSEs expect the industry to submit all applications started in the legacy URLA format to either GSE’s AUS by May 1, 2021. Effective May 1, any new loan submitted using the legacy URLA format will no longer be accepted.

LPA Messaging

LPA versions earlier than v5.0.06 will return a critical edit on loan application files with an Original Submission Date on or after May 1, 2021.

If you have questions about LPA feedback messages received or any other aspect of your transition to the redesigned URLA and LPA v5.0.06, contact your Freddie Mac representative or call the Customer Support Contact Center (800-FREDDIE): select Option 1, then select Option 2 for LPA Support.

If you have questions about the redesigned URLA or supporting documents, please visit the URLA/ULAD web page or email [email protected].