On June 12, 2019, Fannie Mae and Freddie Mac (GSEs) announced, at the direction of the Federal Housing Finance Agency (FHFA), that the "Optional Use Period" for the redesigned Uniform Residential Loan Application (URLA) and corresponding datasets will not begin on July 1, 2019 as previously scheduled. A new effective date and updated form will be provided at a later date.
In consideration of the GSEs' delay of the “Optional Use Period" of the revised Uniform Residential Loan Application ("URLA"), DocMagic has decided to temporarily postpone the release of DocMagic Online 5.0 which contains enhancements to accommodate the new form. This decision was made to prevent the accidental usage of the new form and to minimize user impact as the GSEs contemplate additional changes to the form.
DocMagic will provide ample notice prior to the implementation of these much-anticipated changes. Please direct any questions or comments to customerservice@docmagic.com.
