MPF Announcement 2021-36

The Redesigned Uniform Residential Loan Application (URLA) Update

Effective Date: May 1, 2021

As communicated in MPF Announcement 2021-09, the industry-wide mandate to begin using the redesigned Uniform Residential Loan Application (URLA/Fannie Mae Form 1003/Freddie Mac Form 65) was March 1, 2021, for all conventional loans delivered under the MPF Traditional and MPF Xtra products. PFIs delivering government loans must comply with the requirements of the applicable government agency, including using the version of the URLA that is accepted by the applicable government agency. 

AUS Submission Deadline – April 30, 2021

As a reminder, the MPF Program has adopted the URLA Implementation Timeline set by Fannie Mae for conventional loans delivered under the MPF Traditional and MPF Xtra products. All new loan applications started on or after March 1, 2021 must use the redesigned URLA and updated automated underwriting system (AUS) specifications based on MISMO v3.4. According to the enclosed communication, for all loans started prior to March 1, 2021, they may remain in the format with which they were started. To accommodate loans started in legacy formats prior to March 1^st, but not submitted by that date, the applicable AUS will not return an Out of Scope/Error for Fannie Mae or critical edit for Freddie Mac on new loans submitted in the legacy format until May 1, 2021.

Effective May 1, 2021, the applicable AUS will no longer accept new loans submitted using legacy formats.

Furthermore, resubmissions of loan casefiles already in the legacy format may continue, as needed, through February 28, 2022, the end of the Pipeline Loan Closing Period.

For additional information, underwriting system requirements, and training regarding the redesigned URLA, PFIs can refer to Fannie Mae’s URLA webpage.