On January 29, 2020, Fannie Mae and Freddie Mac (the "GSEs") published updated Uniform Residential Loan Application (URLA) / Uniform Loan Application Dataset (ULAD) Frequently Asked Questions that provide the mandatory use date for the redesigned Uniform Underwriting and Transmittal Summary (Fannie Mae Form 1008 / Freddie Mac Form 1077) has been changed to coincide with the redesigned URLA mandate date of November 1, 2020.
The GSEs last revised the Uniform Underwriting and Transmittal Summary in December 2018 and are considering additional changes based on input received from lenders. As provided in our previous article (available here), the GSEs have both indicated that that new form can be used now, so DocMagic has made it available for testing in both our production and stage environments (Form ID: UUATS.MSC). If you wish to test the revised form, please contact DocMagic’s Customer Service Department for assistance.
Please note that DocMagic is not currently adding the revised form in standard packages but will begin including the form in underwriting packages by November 1, 2020.
DocMagic will continue to provide updated information regarding the revised Uniform Underwriting and Transmittal Summary as the mandatory use date approaches.
