URLA

Is your institution ready for the mandatory URLA effective date? Our experts have answers to your lingering URLA questions.

URLA (Uniform Residential Loan Application), a joint document approved by the Federal Home Finance Agency for use by lenders with the intent to sell a closed loan to either Fannie Mae or Freddie Mac.

Just as smart lenders remained focused despite the TRID delay in 2015, so too do lenders need to keep their eyes on the prize when it comes to URLA. 

"But that may not be the most significant risk lenders face as URLA’s changes begin to go into effect in a few months. The biggest impact is likely to involve trust issues with mortgage borrowers."