DPA, Analytic products; Jumbo and Non-Conforming News

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Posted To: Pipeline Press

Critics of the “new and improved” 1003, aka URLA, for loan applications must be quite pleased with the indefinite delay of its required rollout announced yesterday. “The Federal Housing Finance Agency (FHFA) has completed its review of the redesigned Uniform Residential Loan Application (URLA) and has directed Freddie Mac and Fannie Mae to make specific modifications to the URLA form. To allow industry participants time to make the necessary changes, the implementation deadlines will be extended . This means the mandatory use of the redesigned URLA form will no longer begin on February 1, 2020. More details will follow over the next several weeks as we continue to assess the impact of these changes on the timeline with Fannie Mae and FHFA.” Lender Services and Products…(read more)

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