On May 3, 2022, the Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac (the Enterprises) will require lenders to use a Supplemental Consumer Information Form (SCIF) as part of the application process for loans that will be sold to the Enterprises. The purpose of the SCIF is to collect information about the borrower’s language preference, if any, and on any homebuyer education or housing counseling the borrower received, so lenders can better […]
Tag: Fannie Mae
URLA IMPLEMENTATION TIMELINE
On September 26, 2017 Fannie Mae and Freddie Mac (the GSEs) published guidance on the implementation timeline for the redesigned Uniform Residential Loan Application (URLA). Demographic Information Addendum The Consumer Financial Protection Bureau (CFPB) has finalized their Technical Corrections and Clarifying Amendments to the Home Mortgage Disclosure Act (HMDA) Regulation C. The GSEs have updated the Demographic Information Addendum based on this final rule. The changes were made only to the form instructions and not […]
FANNIE RELEASES REVISED 1003
Fannie Mae released Tuesday, August 23rd, the publication of the redesigned Uniform Residential Loan Application (URLA) – Fannie Mae Form 1003. The newly redesigned URLA is a 7-page interactive pdf document that contains drop-down menus as well as totals for the calculation of certain sections. In addition, the following components are included: borrower information, additional borrower, unmarried addendum, lender loan information, and a continuation sheet. Instructions are included to assist in the completion of the […]