GSEs Announce Postponement of Revised URLA Mandatory Use Date
On August 8, 2019, Fannie Mae and Freddie Mac (the GSEs) announced changes to be made to the revised Uniform Residential Loan Application (URLA) and a postponement of the mandatory use date. The mandatory use date was previously set for February 1, 2020, and a new date has not yet been determined. The postponement will “allow industry participants time to make necessary changes,” before implementing the revised URLA and automated underwriting system.