On August 8, 2019, the FHFA, Fannie Mae, and Freddie Mac (GSE’s) announced that the mandate requiring use of the revised URLA by February 1, 2020 has been abandoned. While the GSE’s did not announce a new required-use date, they a did identify changes for the revised URLA. These change include:
- Removal of language preference question in Section 1a, and the Homeownership Education and Housing Counselling Question in Section L5
- Borrower Information, Section 6: Acknowledges and Agreements will be revised to address specific uses of borrower data
- The Military Service question in the Borrower Information, Section 1a will be moved to a new section next to Section 7: Demographic Information
- Will include minor edits to improve usability