The following minor changes are being made to the redesigned FNMA Form 1003/FHLMC Form 65 (our Cx20667) following the testing that has been done during the FNMA/FHLMC Limited Production Period:
- Section 1a: A new field was created to more efficiently generate the borrower names in the “List Name(s) of Other Borrowers” box. No changes will be seen on the document.
- Section 2b: Two new Other Asset Type options were created to support “Automobile” and “Net Worth of Business Owned” as Other assets.
- Sections 2c and 3a: Due to differing ways LOSs have of providing liabilities, the loop conditions were slightly modified to ensure that all the appropriate liabilities print in 2c and 3a.
- Section 4d: Per instructions received from the GSEs, the “Deposited / Not Deposited” radio buttons should not be marked for Gifts of Equity.
- Section L1: The logic for the “Project Type” line was expanded to make it more inclusive, since it is possible to have a mixture of the options (e.g. a Condominium project that is also a PUD).
Note that these same changes are also being made to our Spanish Translation Aid Form 1003/Form 65 (Cx20668).
These changes are available now on ConformX Stage servers for testing, and will be available on Production on September 5, 2020. Questions or concerns about these changes should be directed to Client Support at 1.800.497.3584.
Please visit the Docutech URLA Resource Center to access additional information on the redesigned URLA, including previous announcements: https://compliance.docutech.com/urla-resource-center/
DRs 326485, 326565, 326568, 326571, and 326945