Fannie Mae and Freddie Mac have redesigned the Uniform Residential Loan Application (URLA) aka. Fannie Mae Form 1003 or Freddie Mac Form 65. The deadline to transition to this format is 3/1/2021. The GSEs also created new automated underwriting system (AUS) specifications for a new Desktop Underwriter User Interface.
While 3/1/2021 is the mandated deadline, businesses have been allowed to submit the newly redesigned form since 1/1/2021.
Official 3/1 Mandate from Fannie and Freddie:
New Desktop Underwriter User Interface:
BaseCap Analytics can help lenders ensure that their data is clean and in the correct format prior to uploading it to Fannie’s or Freddie’s platform.
Contact us for a free demo and see how we can make sure your data is clean and standardized.