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The Compliance Edge, DocMagic’s premium subscription resource, offers the most up-to-date compliance information available from legal analysis to the latest mortgage industry news. The latest mortgage industry laws and regulations are organized into actionable information designed to help you stay on top of compliance. The Compliance Edge is a powerful resource that Premium Subscribers rely on to reduce compliance risk, lower costs and increase operational efficiencies.
The redesigned Uniform Residential Loan Application (URLA) Form 1003
All loans with an application date on or after March 1, 2021, and purchased by Fannie Mae and Freddie Mac are required to include the redesigned Uniform Residential Loan Application ("URLA"). The GSEs will continue to accept legacy loans (applications prior to 3/1/21) with the old form 1003 until March 1, 2022. The goal is to have a more consumer-friendly loan application experience while also moving the lending industry closer to digitizing the loan origination process.
DocMagic’s compliance experts translate the latest laws and regulations into actionable information.
We consistently monitor the latest compliance updates and regulations to help you stay up-to-date.
We cover everything from basic verifications to complex GSE, Federal and State-Specific calculations.