On August 8, 2019 FNMA and FHLMC published a joint announcement (available directly at: https://www.fanniemae.com/content/notification/notification-urla-announcement-august-2019) stating that they will be removing the “Language Preference” and “Homeownership Education and Housing Counseling” questions from the new URLA and including them in a new “voluntary consumer information form” which is under development. They will also be revising other parts of the URLA.
As a result of these changes, the mandatory use date has been postponed indefinitely: “The GSEs and FHFA will assess the impact of these changes to the timeline and will provide more information about the new implementation dates as soon as it is available.”
We are currently monitoring this situation and will make any revisions necessary as they are revealed. Any modifications we make will be announced on our website (https://compliance.docutech.com/).
Docutech URLA Updates:
At Docutech, we are committed to providing exceptional service and value to help improve regulatory compliance for our clients. As such, ever since the Federal National Mortgage Association (“FNMA”) and Federal Home Loan Mortgage Corporation (“FHLMC”) revealed their newest versions of FNMA Form 1003/FHLMC Form 65 (“Uniform Residential Loan Application” or “URLA”) on August 23, 2016, we have been publishing various posts addressing different aspects of the URLA (and other documents associated with it), ranging from legal analysis to system support.
Helpful URLA Compliance resource articles:
Docutech has also created supplemental documentation including:
- Details about the fields that will be used on the Resigned 1003
- Notes and FAQ about Docutech’s implementation of the Redesigned 1003
- Sample forms printed through ConformX
To learn more, call us at 800.497.3584 or email us at email@example.com
Fannie Mae URLA resources can be accessed here.
Freddie Mac’s URLA resources can be accessed here.