- Business Rules
The new Uniform Residential Loan Application
GSEs announce November 2020 required use date for URLA
Revised implementation timelineThe GSEs have published the revised implementation timeline for the redesigned Uniform Residential Loan Application (URLA) and updated automated underwriting systems (AUS). Here are the dates you need to know:
- March 9, 2020: Start of Tests between Vendors and GSEs
- June 1, 2020: Start of Limited Production pilot for select Lenders/Vendors [must demonstrate partner readiness and be pre-approved by Fannie Mae and/or Freddie Mac]
- September 1, 2020: Start of Open Use Period [formerly referred to as Optional Use period]
- November 1, 2020: Start of Required Use
We’ve created an “I Love URLA” mailing list to keep you informed of the latest URLA updates.
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.Learn more
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.
Frequently asked questions
Frequently asked questions
Yes, we will be supporting the concurrent use of both the current URLA and new URLA. The GSEs announced the newly updated URLA implementation schedule on December 18, 2019 and Ellie Mae will notify our lender customers once we have a revised rollout schedule in place to ensure they are prepared well before the November 2020 mandated deadline.
Ellie Mae will continue to provide ongoing education and documentation for changes in business processes and software coming with the new URLA. Detailed documentation and instructions about changes that affect Encompass and related products and services are currently being developed based on the updated redesigned URLA and AUS specifications.
On December 18, 2019, the GSEs announced the newly updated URLA implementation schedule. Ellie Mae is now in the process of making the required updates and will notify our lender customers once we have a revised rollout schedule in place.
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 will provided an excellent guide to compare the old and new forms based on the newly updated redesigned URLA and Ellie Mae is also preparing a revised companion data guide to assist our clients in understanding how the comparison relates to Encompass fields. The current version may be viewed now on the URLA 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.
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 original Feb. 1, 2020 effective date. We are now working to make the required adjustments based on the revised implementation schedule announced by the GSEs on December 18, 2019. 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.
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.
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.
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.
Lenders should consult with their own compliance resources to determine to what extent the URLA impacts existing disclosure requirements.
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.
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.
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.
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.
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.
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.
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.
The policy will be company level, and will drive a mandatory use date.
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.