As needs for an even more electronic financing procedure continue steadily to rise, government-sponsored enterprise (GSE) Fannie Mae® along with Freddie Mac and stakeholders throughout the industry, set another source in position because of the redesigned Uniform Residential Loan Application (URLA/Form 1003).

As the general application for the loan procedure does not change for either loan providers or borrowers, the redesigned Form 1003 addresses developments on the market, GSE policy, and Residence Mortgage Disclosure Act (HMDA) reporting requirements — all by having a cleaner feel and look and clearer guidelines. Read more