Delaware Uniform Residential Loan Application
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How to fill out Uniform Residential Loan Application?
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FAQ
The uniform residential loan application is a form designed by Fannie Mae and Freddie Mac, government-sponsored enterprises (GSE) that support the mortgage market. The form was created to collect the information lenders need to assess your creditworthiness for a mortgage loan.
The iLAD is a ?superset? of loan application data based on MISMO v3. 4 that includes all the data in the ULAD Mapping Document and the GSE AUS Specifications. iLAD also includes additional origination data points requested by the industry that may be needed for exchange of loan information.
The URLA consists of two main forms, the Borrower Information Form and the Lender Information Form, which together make up the complete loan application. However, depending on certain situations, additional forms may be required. These are the Additional Borrower form, Unmarried Addendum, and Continuation Sheet.
The uniform residential loan application is a form designed by Fannie Mae and Freddie Mac, government-sponsored enterprises (GSE) that support the mortgage market. The form was created to collect the information lenders need to assess your creditworthiness for a mortgage loan.
Effective May 1, Desktop Underwriter® (DU®) and Desktop Originator® (DO®) will only accept new loans submitted using the redesigned Uniform Residential Loan Application (URLA)/Form 1003 and the updated DU MISMO 3.4 file format.
A loan application must be documented on the Uniform Residential Loan Application (Form 1003). A complete, signed, and dated version of the final Form 1003 must always be included in the loan file. The final Form 1003 must reflect the income, assets, debts, and final loan terms used in the underwriting process.
ULAD Map. Provides the association between the form fields on the URLA and the MISMO v3.4 data points. Every field in the URLA is included in the ULAD Mapping Document. Some URLA fields may require more than one MISMO data point.
The Uniform Loan Delivery Dataset (ULDD), part of the Uniform Mortgage Data Program (UMDP), is the common set of data elements required by Fannie Mae and Freddie Mac for single-family loan deliveries.