3 Ways We’re Helping You Prepare for the New URLA
It's been nearly five years since Fannie Mae and Freddie Mac originally unveiled a redesigned version of the uniform residential loan application (URLA). After a number of modifications over the years, the mortgage industry is finally moving forward with the new form.
Starting March 1, usage of the redesigned URLA format will be made mandatory.
Mortgage companies and individual loan originators who utilize the Floify platform can rest assured that we have long since taken the necessary steps to ensure our customers are prepared for this change and can continue closing loans without any disruption.
Version 3 of Floify's web-based 1003 loan application has offered support for the redesigned URLA format since its launch. And, to switch the loan application to the new format requires just a single configuration change.
But, for us, it's not enough to just provide the technology.
We want to make sure all of our customers are both compliant as well as comfortable with how the new URLA fits in their process.
To accomplish this, we're offering a number of free services that our customers can access in advance of (and through) the March 1 mandatory deadline.
A Complimentary Pipeline for Testing the New URLA
Test how the new URLA works within your workflow in a live setting by taking advantage of a complimentary pipeline just for the purpose.
Our team will set you up with access to your very own test pipeline for 6 weeks so you can create and export example applications using the new format and make sure that your processes are dialed in.
Take us up on the offer and get your pipeline for 6 weeks of URLA testing by emailing our Customer Support team.
Account Review and Q&A With Floify Support
Got questions, need guidance, or just want our team to take a look at your account to make sure you're good to go? We've got you covered!
We're offering quick, 15-minute meetings with Floify Customer Support that will specifically focus on URLA implementation. During these sessions, customers will be able to address any questions or concerns with our team and get immediate answers and assistance.
Interested? Check the team's calendar and book a time that works for you.
It's incredibly easy to switch your Floify version 3 loan application over to the updated URLA format. Even the process of importing any custom questions or automatic document request logic has been simplified to make the change smoother.
If you're the do-it-yourself type and want to make sure you're in the right place and making the right update, our Customer Support team provides step-by-step instructions in the video below.