New Mortgage Application Coming Soon

Changes in the mortgage industry and regulatory environment led Fannie Mae and Freddie Mac to reassess the information obtained at the time of a loan application. This meant taking a hard look at the format, layout and questions asked on a loan application/1003. Through this analysis the new Universal Residential Loan Application (URLA) was created.

After 20 years, the mortgage industry is going thru another key milestone. The form is being changed for
The Borrower, to make the customer experience
  • Easier to complete
  • Easier to review
  • Easier to apply
The Lender, to streamline the process by providing
  • More relevant data
  • More flexible data
  • More reliable collection of data
Premia Relocation Mortgage is already preparing systems and training for the new 1003.
- Nov 10, 2020