The New Uniform Residential Loan Application-What You Need to Know Webinar

After many years in the works, Fannie Mae and Freddie Mac have finally issued their new Uniform Residential Loan Application, or URLA. This is Fannie Mae Form 1003 and Freddie Mac Form 65, and is the most widely-used application form for mortgage loans in the U.S., and many lenders utilize it whether or not they sell loans to Fannie or Freddie. Although lenders are permitted to use the new form now, as of March 1, 2021, it will be mandatory. This is a wholescale redesign of the form, with new fields, many revisions, and an all-new look. Fortunately, Fannie and Freddie have provided many resource documents to ensure you’re up to speed on the changes, but there is still much to process.

This webinar will explore the new form(s), and we’ll discuss all the changes, as well as the impacts on your lending operations. There are also changes to the agencies’ Uniform Mortgage Data Program, which in turn impacts use of their Automated Underwriting Systems (AUS), Desktop Underwriter and Loan Prospector. We’ll address those impacts as well, so you’ll be ready to go.

Covered Topics

  • Use of the form – what transactions, what lenders?
  • Aspects of the redesigned URLA – what’s changed, what’s new?
  • Usage of the form – in what transactions, whether your institution sells loans to Fannie Mae and Freddie Mac or not
  • Additional resources and links
  • Data mapping from the old form to the new
  • Status of the “Preferred Language” issue
  • Impacts on the Uniform Mortgage Data Program and Automated Underwriting Systems (AUS – DU and LP)
  • Steps to take now to be ready

Who Should Attend?

Those individuals who are part of the residential lending process, including Loan Officers, Processors, Underwriters, and Closing Agents; Compliance and Legal staff; Audit; and Management of these areas.

Continuing Education (CE) Credits

This webinar is recommended for 2.5 CE Credit Hours. Each attendee will receive a Certificate of Attendance for self-reporting of CE Credits.

View Delivery Options

Related Topics

Instructor

Carl Pry
Carl Pry

Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Managing Director for Treliant Risk Advisors in Washington, DC. Through his working career, ... read more.

Course Title Credits Start Date Start Time Delivery Type Delivery Option Instructor / Location Price
The New Uniform Residential Loan Application-What You Need to Know 0.25 Any Any Webinar Six Month On-Demand Recording Carl Pry $295.00 Register Now
The New Uniform Residential Loan Application-What You Need to Know 0.25 Any Any Webinar CD-ROM Video Recording Carl Pry $345.00 Register Now
Delivery Options

LIVE WEBINAR:
INCLUDES 7 DAYS OF ONDEMAND PLAYBACK! With this option, you will participate in the webinar (via the internet) as it is being presented. You will login to the webinar on your PC to view the PowerPoint presentation, and you have the option of using your PC speakers or a telephone for the audio. You can type and send your questions to the instructor. Many companies are now running their PC through an LCD projector allowing many employees to participate at the same time. And don’t worry if you miss the webinar, you can still view it for up to seven days after it takes place!

SIX MONTH ONDEMAND VIDEO:
With this option, you will receive an e-mail that contains a link to the PowerPoint slides (to download, print, and copy) as well as a link to the media player where you will view and hear the entire webinar just as it was delivered, featuring the full-color PowerPoint presentation with audio. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. The weblink will be available to you (and anyone else in the company) for up to six months and can be accessed 24/7 as many times as you wish. Delivered via e-mail the day after the webinar takes place.

CD-ROM VIDEO:
If you do not have internet access or want to make the webinar part of your training library, the CD-ROM Recording is a great option for viewing a webinar. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. With this option, you will receive a download of the PowerPoint slides and a CD-ROM Recording (featuring PowerPoint presentation with audio) of the webinar via regular mail. Mailed 7 to 10 days after the webinar takes place.

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