Are you ready for the new URLA? Starting July 1, 2019, both Fannie Mae and Freddie Mac will begin the optional use period of the redesigned Uniform Residential Loan Application (“URLA”) published jointly by the Government-Sponsored (“GSEs”). Starting February 1, 2020, all loans with an application date on or after February 1, 2020 and purchased by Fannie or Freddie must contain the redesigned URLA.
As the industry continues to push more aggressively toward a digital mortgage, electronic closing becomes more critical. After all, this is where the borrower gets the most benefit out of the paperless process and when done correctly it improves borrower satisfaction, which can increase repeat and referral business.
There were a number of document updates and even some new documents added to our document compliance library in March. Here are highlights from the topics we shared in our compliance blog last month. Subscribe to be among the first to learn about all the industry’s most important mortgage compliance news.
For this month’s Docutech Spotlight blog series, we sat down with Parvesh Sahi, SVP Business Development and Corporate Strategy for Ellie Mae, to discuss the recent Ellie Mae Experience conference and what lenders can expect to see as the mortgage industry moves into 2020.
In February, we covered several document updates and even added new documents to our doc library. In case you missed any of those key updates, here are the topics we shared in our February Compliance Blog. To stay on top of the mortgage industry’s every evolving compliance related issues and changes, subscribe to our Compliance Updates blog.
We sat down with Tom Gallucci, the Vice President of Business Development for The Mortgage Collaborative, to spotlight the lender benefits of joining this industry leading collaborative group. Docutech is the collaborative’s exclusive doc services provider offering members preferred pricing to the ConformX dynamic doc gen engine as well as the Solex eSignature and eClosing platform.
The documentation that forms the basis of the mortgage loan transaction includes the legal disclosures and the detailed repayment agreement between the homeowner and the lender. For reasons of legal compliance, this documentation must conform to local, state and federal laws related to the lending of money collateralized by real estate. To mitigate against catastrophic loss in the case of default, the documents must also stand up in court, comply with applicable law, and meet investor requirements.
As we jump into 2019, our compliance experts are busy ensuring that every Docutech client has the information they need to formulate their own compliance strategy. Here are the topics that made it into our compliance blog in January.
Docutech’s integrations with leading technology providers in the mortgage and consumer lending industry are key components to helping us deliver end-to-end solutions that enable lenders to streamline loan origination, reduce costs and optimize the experience for the borrower. In our recurring Industry Spotlight blog series, we highlight key relationships that help us move the industry forward by delivering the most streamlined, accurate, compliant and innovative document experience possible.
