Fannie Mae and Freddie Mac have redesigned the 1003/URLA and created new automated underwriting system (AUS) specifications to help Lenders better capture relevant loan application information and support the industry’s move to digitize the loan origination process. The new URLA has benefits for both Lenders and Borrowers.
New URLA Components
New Look and Process
There are five components to the new redesigned 1003/URLA. No more Borrower and Co-Borrower. Now it is just one or more Borrowers. The Lender and Borrower information components are used on every loan and the unmarried Borrower addendum, additional Borrower information, and continuation sheet are used as needed.
- Lender Information
- Borrower Information
- Unmarried Borrower Addendum
- Additional Borrower Information Sheet
- Continuation Sheet
Benefits
Lender Benefits
- More Relevant Data Collection
- More Flexible Data Collection
- More Reliable Data Collection
Borrower Benefits
- Easier to Complete
- Easier to Review
- Easier to Apply
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Loan Application Components
Borrower Information Sections
- Borrower Information
- Financial Information - Assets & Liabilities
- Financial Information - Real Estate
- Loan & Property Information
- Declarations
- Acknowledgements & Agreements
- Military Service
- Demographic Information
- Loan Originator Information
Lender Loan Information Sections
- Property & Loan Information
- Title Information
- Mortgage Loan Information
- Qualifying the Borrower

Info & Agency Resources
Implementation Timeline
- Fannie Mae and Freddie Mac have designated March 1, 2021 as the mandatory use date for the new URLA
- loanDepot Wholesale will start requiring MISMO 3.4 data through the mello® Broker Portal starting March 1, 2021
Fannie Mae
Freddie Mac