In an email dated May 11, 2021 (Subj: Don’t let an outdated URLA cause a delay!), the U.S. Department of Agriculture announced the following:
“Beginning June 1, 2021, USDA will require submission of the redesigned Uniform Residential Loan Application (URLA) Fannie Mae Form 1003/Freddie Mac Form 65, effective date 1/2021) for all new loan requests. Therefore, all Single-Family Housing Guaranteed Loan Program (SFHGLP) loan requests utilizing the legacy URLA version must be submitted to Rural Development prior to June 1, 2021.
USDA will continue to accept both the legacy and the new (1/2021) version of the URLA through May 31, 2021. Lenders are encouraged to monitor their pipeline to ensure the new URLA is utilized for any loan that will not be submitted to USDA by May 31, 2021. Loans submitted with the expired legacy URLA on or after June 1, 2021 will be considered incomplete and USDA will be unable to process the request until the new 1/2021 version of the URLA is received.”
Clients may print either the 2009- or 2021-versions of the URLA through our system (see https://compliance.docutech.com/urla-resource-center/ for details).