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Current Status of the Revamped Uniform Residential Loan Application


Q: Has there been a recent change to the implementation date for the redesigned Uniform Residential Loan Application?

A: Yes, in a recent joint announcement made by Fannie Mae and Freddie Mac, the mandatory use of the redesigned Uniform Residential Loan Application (URLA) has been postponed to an unspecified date in the future. At the direction of the Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac (the GSEs) announced in June 2019 that the optional use period for the redesigned URLA and automated underwriting system (AUS) implementations would be delayed. FHFA has now directed the GSEs to make specific modifications to the URLA which include:

  The removal of the following questions from the redesigned URLA form. Instead, a voluntary consumer information form, separate from the URLA form, will be developed to collect this information.

•   The Language Preference question (Borrower Information, Section 1a.)

•   The Homeownership Education and Housing Counseling question
(Lender Loan Information, Section L5.)

  In the Borrower Information, Section 6: Acknowledgments and Agreements, the statement on "Use and Sharing of Information" will be revised to address specific uses of borrower data.

  The Military Service question (Borrower Information, Section 1a.) will be moved to a new section adjacent to Section 7: Demographic Information.

  Minor edits for consistency and usability will be made throughout the URLA form.

To allow industry participants time to make the necessary changes, FHFA and the GSEs will be extending the deadlines for implementation of the URLA and AUS datasets. The mandatory use of the redesigned form and data will no longer begin on February 1, 2020. The agencies 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.


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