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The new Uniform Residential Loan Application

URLA changes are coming. Are you ready?

The GSEs (Fannie Mae and Freddie Mac) have communicated that they are making changes to the new URLA and delaying their originally planned February 1, 2020 effective date. Take advantage of this extra time to prepare for the upcoming changes to avoid disruption. Discover how Ellie Mae is providing support for the new form across the Encompass Digital Lending Platform and explore the below resources to start planning your seamless transition.

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URLA Bird

URLA Training Roadshow

For a limited time, our experts are coming to 14 locations across the country to offer hands-on training with all new URLA functionality in Encompass®.

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Now available: URLA Instructional Guide

Ellie Mae has created the Uniform Residential Loan Application Instructional Guide that provides detailed instructions for the completion of the redesigned URLA and a quality control checklist to verify accurate completion based on the borrower’s specific loan scenario.

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URLA Bird

The Modern Lender’s Guide to the New URLA

Five steps for a seamless transition
Minimize the potential for disruption in the mortgage process with this insightful eBook. It is your ultimate guide for redesigns of the new mortgage application input workflow, updates to documents and forms and compliance with the Uniform Loan Application Dataset (ULAD) and more.

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Frequently asked questions

Frequently asked questions

What is Ellie Mae doing about the recently announced new URLA?
Will all fields be changing in the new URLA?
When will Ellie Mae be providing customers with the ability to test the new URLA?
Will Ellie Mae provide ongoing information and education about the changes affecting Encompass and related products and services with the new URLA?
Is Ellie Mae planning to support both the current and new URLA?
Will the new URLA have signature/date lines on each page for states that require it?
Will the new application have verbiage that authorizes the lender to pull credit?
Will an unmarried borrower pair be able to share the same application, or will they have to continue to have separate URLA's?
How does the new URLA affect disclosure requirements?
Where is the rate and term of the loan shown on the URLA?
Will Encompass Consumer Connect be leveraging the new URLA?
Will each borrower be signing their own application?
Is the format in the borrower summary and 1003 pages forms going to change?
When will the 3.2 format be replaced by MISMO?
At the bottom of each page on the new URLA, it says borrower name. Is a signature required on each page?
Will Ellie Mae be providing a matrix of all old and new fields?
If optional, would that be at the loan officer or loan template level?
South Carolina requires the branch NMLS# on the loan application. Where can that information be placed on the form so that it will appear on all South Carolina applications only?
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What is Ellie Mae doing about the recently announced new URLA?

With the 19.3 Major Release, Ellie Mae has already incorporated the initial URLA requirements across the Encompass Digital Lending Platform in preparation for the Feb. 1, 2020 effective date. Ellie Mae will make the required adjustments once the new effective date is announced. We remain focused and committed to delivering support for the newly updated URLA requirements across all Ellie Mae products while providing our customers and partners with time to plan and prepare.

Will all fields be changing in the new URLA?

The short answer to this is no! There is significant reuse of data between the existing URLA and the new URLA. There are some net new fields required due to new data being collected on the form, as well as new expandable sections.

The GSEs have provided an excellent guide to compare the old and new forms, and Ellie Mae is preparing a companion data guide to assist our clients in understanding how the comparison relates to Encompass fields. If changes to the URLA data points are required based on the final requirements provided by the GSEs, an updated version will be made available on the Resource Center. The current version may be viewed now on the URLA page within the Ellie Mae Resource Center under the DU/LPA MISMO 3.4 Mapping Guide. Refer to the 1003 to URLA Comparison tab for the most current comparison of the existing form fields to the new URLA form data.

When will Ellie Mae be providing customers with the ability to test the new URLA?

On August 15, 2019, the GSEs announced changes being made to the new URLA and delaying the planned February 1, 2020 effective date. We have already delivered the first incremental delivery available in the Encompass 19.3 Major Release, which lenders can use to begin analyzing the impact of the new application fields to their existing business rules, processes and workflow. Once the details of new URLA changes are announced by the GSEs, we will make the required updates in a timely manner, keeping you informed as the plan evolves.

Will Ellie Mae provide ongoing information and education about the changes affecting Encompass and related products and services with the new URLA?

Ellie Mae will continue to provide ongoing education and documentation for changes in business processes and software coming with the new URLA. In addition, Ellie Mae has detailed documentation and instructions about changes that affect Encompass and related products and services to date. Once the new form updates are final and there is a new effective date, we will update resources as needed.

Is Ellie Mae planning to support both the current and new URLA?

Yes, we will be supporting the concurrent use of both the current URLA and new URLA. With the rollout of our 19.3 Major Release, lenders can test the new URLA workflow in Encompass. Start testing now to be prepared well before the 2020 mandated deadline to be announced by the GSEs.

Will the new URLA have signature/date lines on each page for states that require it?

At this time, there is no indication that any states (including the District of Columbia) will be revising their existing signature and date requirements based on the new URLA format, nor has there been confirmation from the GSEs on how to accommodate any state specific requirements. We will share any information we receive if and when such information is made available.

Will the new application have verbiage that authorizes the lender to pull credit?

Although there is verbiage in the new URLA Acknowledgements and Agreements section covering this authorization, lenders will need to work with their credit providers to assess if the URLA language will meet their record keeping needs.

Will an unmarried borrower pair be able to share the same application, or will they have to continue to have separate URLA's?

You should consult your compliance and legal counsel with regard to how your organization will treat these scenarios. The new URLA also includes support for an unmarried addendum, where the borrower(s) may disclose additional details about their relationship and community property status.

How does the new URLA affect disclosure requirements?

Lenders should consult with their own compliance resources to determine to what extent the URLA impacts existing disclosure requirements.

Where is the rate and term of the loan shown on the URLA?

These are shown on the lender pages. The lender has the option to provide the borrower with only the Borrower Information application section or the Borrower Information and the Lender / Loan Information section of the application.

Will Encompass Consumer Connect be leveraging the new URLA?

Yes, Encompass Consumer Connect will support the new URLA, as will Encompass Loan Officer Connect, Encompass TPO Connect and all other Ellie Mae products as needed.

Will each borrower be signing their own application?

It depends. Lenders will have options on how to provide the borrower application documents – all borrowers can receive their own application or joint borrowers can be treated as an additional borrower. Additional borrowers sign the joint application, but also receive a copy of their portion of the application on ‘additional borrower’ pages. We intend to provide customers with tools that allow them to determine how best to satisfy their consumer’s needs.

Is the format in the borrower summary and 1003 pages forms going to change?

No. We are going to retain the same user experience in the Encompass Smart Client. There will be new URLA pages to replace the existing 1003 pages, but the new URLA pages will follow a similar format and flow.

When will the 3.2 format be replaced by MISMO?

The GSEs have indicated that they will continue to accept older AUS formats until February 2021. Since we are aware that there will be a significant period of transition time for our customers to the new MISMO format, including a need to support the import of older loan files, we plan to support both FNMA 3.2 and MISMO 3.4 for the foreseeable future.

At the bottom of each page on the new URLA, it says borrower name. Is a signature required on each page?

This depends on the jurisdiction. The footer shows the borrower to which the page applies. As there can be multiple copies of the URLA for different borrowers in the package, the name on the bottom is a guide for identifying which borrower is associated with that particular page.

Will Ellie Mae be providing a matrix of all old and new fields?

Yes, we will provide a list of all old data fields  mapped to the new fields. This will be available as we get closer to launching the new URLA and will be posted to the Ellie Mae Resource Center.

If optional, would that be at the loan officer or loan template level?

The policy will be company level, and will drive a mandatory use date.

South Carolina requires the branch NMLS# on the loan application. Where can that information be placed on the form so that it will appear on all South Carolina applications only?

As mentioned previously, there is no indication at this time that any states (including the District of Columbia) will be revising their existing requirements based on the new URLA format, nor has there been confirmation from the GSE’s on how to accommodate any state specific requirements. We will share any information we receive if and when such information is made available.

Resources

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