On December 8, 2015, Fannie Mae and Freddie Mac (GSEs) jointly announced plans for updating the Uniform Residential Loan Application (URLA). Changes will include reorganizing the layout, updating the terminology, and adding new data fields. The GSEs intend for the changes to make the URLA more consumer-friendly. The GSEs will also issue a corresponding standardized Uniform Loan Application Dataset (ULAD) for the collection, organization, and transmission of the data received through the new URLA.
The GSEs intend to publish the final version of the redesigned URLA along with the ULAD in the summer of 2016. However, given that the industry is working to comply with recent regulatory changes, there are no immediate plans to begin collecting the redesigned URLA or ULAD in 2016.