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GSEs Announce Publication of Update to Redesigned URLA

On October 23, 2019, Fannie Mae and Freddie Mac (the “GSEs”) announced the publication of the updated redesigned Uniform Residential Loan Application (“URLA”) (Fannie Mae Form 1003 / Freddie Mac Form 65).  Appendix 1 of the announcement provides a detailed description of changes that have been made to the Borrower Information, Additional Borrower Information, Lender Loan Information, Continuation Sheet and Unmarried Addendum documents.

USDA 2020 SFH Guaranteed Funds Available

On October 21, 2019, the United States Department of Agriculture (USDA), Rural Development (the “Agency”), announced that funding for the Single-Family Housing Guaranteed Loan Program is available for the new fiscal year (October 1, 2019 to September 30, 2020) after lapsing for a short period of time.

Loan guarantee requests that received a contingent Form RD 3555-18/18E are being processed and lenders will receive an updated “Conditional Commitment” electronically generated by the Agency. 

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