The 2021 URLA/1003 Application – ON-DEMAND WEBINARS


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SKU: SWURA Category:

Recorded: December 30, 2021

Presented by: Ms. Leah Hamilton, VP and Senior Consultant, FORVIS

Whether or not you sell into the secondary market, the new URLA will become the industry standard. Are you ready? Have you looked at the changes? The new information that will be requested? Did you know that it will be comprised of multiple forms – some required, some only if triggered? Did you know that there are BSA/AML benefits to the new URLA?

The Uniform Residential Loan Application (URLA), also referred to as the “1003” or “Form 65”, is the standard application form that lenders use to take consumer loan applications. It provides the lender with the basic information needed to approve a home loan. The URLA is the required application form that lenders must use if they sell their loans into the secondary market, particularly to Fannie and Freddie. Some secondary market investors will require the URLA for any one-to-four (1-4) secured loans.

There is no regulatory requirement to use the URLA; however, for consistency and ease, most – if not all – institutions use the URLA for transactions involving a 1-4 dwelling secured loan. The use of the URLA also assists lenders in complying with Regulation B. Under Regulation B, a creditor must take written applications for requests for credit primarily for the purchase or refinancing of a dwelling occupied or to be occupied by the applicant as a principal residence, where the extension of credit will be secured by that dwelling.

Join this two-hour webinar to learn the ins and outs of the new URLA/1003 as we step through each of the 5 – yes, 5 – forms to learn the changes, the requirements, the triggers and more.

During The New 2021 URLA/1003 webinar we will cover:

  • Quick Review
    • Definition of Application
    • Regulation B written application requirement and safe harbor
  • The NEW Uniform Residential Loan Application
    • Also known as … URLA, Form 1003 (Fannie Mae), Form 65 (Freddie Mac)
  • Key Changes
  • Section-by-Section Review
  • What’s New? What’s Changed?
  • Potential Challenges
  • Are you ready? Considerations
  • Resources, Resources and more Resources! We will provide a list of valuable resources that are available for free to assist front line, compliance staff – and your customers!
Who Should Listen

The NEW URLA/1003: Are you ready? webinar will be of value to all loan staff – including credit staff – that participate in the consumer loan process as well as certain commercial 1-4 loans sold into the secondary market requiring the use of the URLA/1003, compliance officers, auditors, managers, specialists, and analysts.

Program Level: Intermediate

Prerequisite/Advanced Preparation: Basic Knowledge of Lending and Loan Applications

Field of Study: Specialized Knowledge

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