Fannie/Freddie Collaborate on New Loan Application

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Posted To: MND NewsWire

While it won’t be available for more than a year, the government sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, have unveiled a new Uniform Residential Loan Application (URLA) . The new form, for use in applying for a single-family mortgage, will contain the first substantial revisions to the application in more than 20 years. In addition to applying for Fannie and Freddie’s mortgages the new form can be used for mortgages that are federally insured by the Federal Housing Administration (FHA), the Veterans Administration (VA), or the U.S. Department of Agriculture’s Rural Housing Service (RHS). The redesigned URLA resulted from collaboration of the two GSEs with lenders, technology solution providers, mortgage insurers, trade associations, housing advocates, borrower groups, and…(read more)

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