URLA IMPLEMENTATION TIMELINE

On September 26, 2017 Fannie Mae and Freddie Mac (the GSEs) published guidance on the implementation timeline for the redesigned Uniform Residential Loan Application (URLA).

Demographic Information Addendum

The Consumer Financial Protection Bureau (CFPB) has finalized their Technical Corrections and Clarifying Amendments to the Home Mortgage Disclosure Act (HMDA) Regulation C. The GSEs have updated the Demographic Information Addendum based on this final rule. The changes were made only to the form instructions and not to the data fields. Lenders may begin using this version of the Demographic Information Addendum immediately.

Revised Uniform Residential Loan Application

The industry may begin using the redesigned URLA starting July 1, 2019. The GSEs will require the use of the redesigned URLA for all new loan applications in February 2020.

A copy of the document is available at :  https://www.fanniemae.com/content/news/urla-announcement-september-2017.pdf

For information regarding the Final HMDA revisions go to:  https://www.jackscomplianceresource.com/final-hmda-rules-published/

A copy of the Demographic Information Addendum is available at:  https://www.fanniemae.com/content/guide_form/urla-demographic-addendum.pdf

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