Residential Loan Application Gets Redo

Fannie Mae and Freddie Mac unveiled the redesigned Uniform Residential Loan Application, following a directive from the Federal Housing Finance Agency to remove the language preference question and housing counseling information from the updated URLA form. Earlier this year, the FHFA ordered the government-sponsored enterprises to remove the language preference question and housing counseling information from the new URLA form, which is the standardized form used by borrowers to apply for a mortgage.

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See; Mortgage Bankers Association, FHFA, URLA, GSE, Fannie Mae, Freddie Mac

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