• 12.19.19  •  

Start the Countdown – New URLA Mandated Implementation is November 1, 2020

For the past three years, Docutech has been your one-stop-resource for tracking Fannie Mae and Freddie Mac’s new uniform residential loan application (URLA) for mortgage originators. While most of the changes have been released publicly since late 2018, lenders have been waiting on a new timeline for implementation.

On December 18, the GSEs released the new URLA timeline, putting lenders on the clock for November 1, 2020.

Major Implementation Milestones

The announcement from the GSEs established November 1, 2020, as the date for the mandatory use of the newly redesigned URLA form. In addition, there are several other milestones lenders should track as they prepare to implement the new application.

On March 9, 2020, directly integrated lenders and software providers may begin testing their loan application submission files. This is also the recommended timeframe to begin training loan officers and staff on the new processes and procedures needed to utilize the URLA.

The testing period lasts until September 1, 2020. From that date through Oct. 31, 2020, lenders may optionally begin to use the new URLA forms in live production. Beginning November 1, 2020, the new URLA form becomes mandatory.

The GSEs did set the caveat that any loan applications that were begun on the old form but not processed by November 1 will be allowed to remain in the old system. However, after Nov. 1, 2021, the current URLA form will no longer be accepted by the GSEs.

Freddie Mac published a graphic of the full timeline with additional deadlines and details:


Photo Credit: Freddie Mac

At Docutech, we have been helping lenders prepare for this change since the GSEs first revealed their newest versions of URLA on August 23, 2016. As part of that effort, we have been publishing various posts addressing different aspects of the URLA (and other documents associated with it), ranging from legal analysis to system support. All this material is available within our URLA Resource Center.

Bookmark URLA Resource Center