Uniform Residential Loan Application (Form 1003)
Fannie Mae and Freddie Mac (the GSEs) redesigned the Uniform Residential Loan Application (URLA) (Fannie Mae Form 1003) and created new automated underwriting system (AUS) specifications (Fannie Mae Desktop Underwriter® [DU®] Spec) to help lenders better capture relevant loan application information and support the industry’s move to digitize the loan origination process.
The GSEs also created a Uniform Loan Application Dataset (ULAD) to show how Form 1003 is mapped to MISMO® v3.4 data.
Extended URLA Implementation Timeline
Fannie Mae is extending the implementation timeline for the redesigned Uniform Residential Loan Application (URLA) and updated DU specification to support the industry during the COVID-19 pandemic. The new mandate for required use of the redesigned URLA is March 1, 2021. See the full announcement.