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Picking the Right Loan Origination Solution Prevents the URLA Blues

Posted by: Scott Jones | April 27, 2021

The new URLA approved by the Federal Home Finance Agency gave lenders a three-year runway to prepare. Beset by development delays, the URLA improves standardization and assists lenders in digitizing the loan-origination process as they take residential mortgage loan applications from borrowers with the intent to sell the closed loan to either Fannie Mae or to Freddie Mac. Yet despite the extended time to ready their systems, many vendors struggled to develop and test software that generates compliant URLA forms.