VHS tapes, anyone? Twenty years ago, they were the most popular way to
watch movies. That’s how long it’s been since the URLA changed! The new,
redesigned form will be available beginning January 1, 2021. Now is the time
to prepare for the transition and learn the new form’s capabilities and data
collection fields. Get onboard! The 2021 train is barreling down the tracks.
- Understand all five sections of the new URLA
- Identify the new data collection fields on the revised form
- Perform calculations using the form’s built-in capabilities
- Recognize enhancements designed to aid in form completion
- Properly capture information on multiple applicants
- Utilize the form’s dynamic capabilities (What’s expandable! What’s collapsible!)
- Customize procedures and policies to guide staff during URLA completion
- Develop exercises to familiarize lenders and loan processors with the URLA layout
The optional use date of the redesigned Uniform Residential Loan Application (URLA) has
been changed several times, but it’s officially available for use beginning January 1, 2021!
Mortgage lending staff should prepare now to implement this form for all mortgage
applications taken in the new year, prior to the required use date for mortgage loans that
will be sold to Fannie Mae and Freddie Mac. Even if your institution does not sell mortgage
loans, it is very likely that your loan origination system will be updated with the new URLA.
Get a jump on 2021 by becoming familiar with the form’s layout and how to complete
each of the five sections.
This session will take a deep dive into when each section should be completed and include
a detailed discussion of the data collection points throughout the application. Learn
exercises and completion tips to help staff smoothly transition to the new form - which
hasn’t changed in over 20 years! This webinar will ensure you are ready to roll with the
new URLA for your first 2021 mortgage loan application!
Molly Stull, Brode Consulting Services, Inc.
Molly Stull began her career as a teller while working on her undergraduate degree and has continued working in the financial industry ever since. She has experienced the growth of a hometown bank, branch mergers, charter changes, name changes, etc. Molly has activated business resumption plans, performed secondary market quality control reviews, processed wires, filed SARs, and coordinated reviews with external auditors and examiners. Her favorite role has always been educating staff and strongly believes that if staff understands the reason for a process they will be more compelled to follow the procedures. Molly holds a bachelor’s from the University of Akron and an MBA from Ashland University.