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Gavias Blockbuider URLA Resources

Introducing the new URLA

The All New Uniform Residential Loan Application (Form 1003) - Available in 2020

Starting June 1, 2020, both Fannie Mae and Freddie Mac will allow the use of the redesigned Uniform Residential Loan Application ("URLA") published jointly by the Government-Sponsored Enterprises ("GSEs"). Effective November 1, 2020, all loans with an application date on or after November 1, 2020 and purchased by Fannie and Freddie must contain the redesigned URLA.

DocMagic Current Updates

In order to support our clients, DocMagic is working hard to provide users with access to the redesigned URLA ahead of the implementation dates. As such, DocMagic is proud to announce the following key details in our ongoing work to create, support, and provide clients with early access to key, industry-related changes. For up-to-date information, please bookmark this page and check in frequently.

DocMagic Milestones:

  • April 2020 - DocMagic Online updated to include January 2020 revisions for Redesigned URLA
  • February 2020 - Redesigned URLA with January 2020 revisions available for testing
  • June 2019 - DocMagic releases revised DocMagic Online interface to support new data fields for the Redesigned URLA
  • April 2019 - DocMagic hosts Redesigned URLA Webinar 
  • February 2019 - DocMagic users are able to test the new URLA forms 
  • February 2019 - DocMagic's Chief Compliance Officer and Richard Horn provide URLA Webinar through October Research
  • January 2019 - DocMagic completes data mapping in support of MISMO data conveyance, published to all integration partners
  • November 2018 - DocMagic begins updates to DocMagic Online screens (DMO) in support of new URLA fields
  • August 2018 - DocMagic completes data analysis and updated application design
  • June 2018 - DocMagic completes gap analysis of supported data fields/additions to new URLA
  • December 2017 - DocMagic adds new content and dynamic layout features present on the redesigned URLA
  • August 2017 - DocMagic completes layout of the redesigned URLA

 

Fannie Mae Revised Timeline

 FNMA Revised Implementation Timeline

Freddie Mac Revised Timeline

FHLMC Revised Implementation Timeline

Links and Resources

Form 1003 Samples (click and download)

 

 

Additional Resources/Articles

 

 

Newsletter Articles

 

 

The Redesigned URLA

The URLA has been updated to include some new (and removing some old) information borrowers must furnish in the application process, in the aim of providing greater clarity and easier use during this time.

 

The URLA accomplishes this by organizing information borrowers must provide, acknowledge, and agree to, compared to information the lender must collect and verify during processing and underwriting of the loan.

 

In addition, the GSEs have updated sections of the URLA to help lenders increase turn-around times by capturing more complete application information from borrowers by bolstering certain areas of the application such as income verification, military service, assets and liabilities, and more in depth property information.

 

And remember to prepare by:

 

  • Identifying any data you do not currently collect
  • Subscribe to DocMagic's mailing list
  • Check DocMagic's website for updates

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