GSEs Revise URLA Implementation Timeline

Due to the coronavirus pandemic, Fannie Mae and Freddie Mac have extended the implementation timeline for the redesigned Uniform Residential Loan Application and automated underwriting systems. Lenders will now be required to use the new URLA form beginning on March 1, 2021.

According to an updated timeline issued by the GSEs, a “limited production” period will begin on Aug. 1, during which the GSEs will begin accepting loan application submission files in production on a limited basis. Open production will begin on Jan. 1, 2021, and the GSEs will no longer support application submission files based on previous AUS specifications on March 1, 2022.