- Business Rules
What is Ellie Mae doing about the recently announced new URLA?
Ellie Mae and the GSEs (Fannie Mae and Freddie Mac) are strategic partners and are in regular communication on many industry topics, including the new Uniform Residential Mortgage Application (URLA) also referred to as either the Fannie Mae Form 1003 or Freddie Mac Form 65. On September 26, 2017, the GSEs announced the planned implementation timeline for the new URLA. Lenders may choose to use the new URLA starting July 1, 2019. However, the GSEs will not require use of the new URLA until loan applications taken on or after February 1, 2020.
Ellie Mae is aware of the new timelines and is actively working with the GSEs to implement the new URLA and the associated dataset, ULAD (Uniform Loan Application Dataset). Ellie Mae is also assessing the impacts that these changes will have on our partner integrations, including the automated underwriting systems (AUS) used by Fannie Mae and Freddie Mac.
Our plan is the make the new URLA generally available for testing in Q3 2019.
For more specific information about these updates, here is the link to the GSEs’ announcement: https://www.fanniemae.com/content/news/urla-announcement-september-2017.pdf