URLA Implementation Date Delayed Again

On June 12, 2019, the Federal Housing Finance Agency (FHFA), Fannie Mae, and Freddie Mac announced that the optional use period for the redesigned Uniform Residential Loan Application (URLA) form has been delayed again.  It was planned that the redesigned URLA could be used starting on July 1, 2019 with required use by January 1, 2020. This announcement delays the optional use period for the new URLA, meaning that lenders should not yet begin using this form.  The agencies have stated that the effective date of the form will be revised and an updated version will be provided at a later date. Further more, the agencies plan to work with applicable stakeholders to finalize issuance of an updated URLA - so it looks like they aren’t quite ready for this long-awaited change.

The release by the agencies delaying the use of the URLA can be found here

CFPB Updates Payday Rule Compliance Guide

Discount Ends Today - Private Flood Insurance Training Program on Sale