Ellie Mae Statement on URLA Mandate Rescheduling and New Requirements
Summary
PLEASANTON, Calif.--(BUSINESS WIRE)--Yesterday, Fannie Mae and Freddie Mac (the GSEs) under direction of their regulator, the Federal Housing Finance Authority (FHFA), announced changes will be made to the redesigned Uniform Residential Loan Application (URLA), leading to a delay in the originally planned February 1, 2020 effective date. Ellie Mae®, the leading cloud-based platform provider for the mortgage finance industry, is working closely with the GSEs to assess the proposed changes and will provide input on how much time these changes will take. Ellie Mae will continue to provide updates as changes and a new effective date are identified. Ellie Mae’s technology solutions enable lenders to originate more loans, lower origination costs, and reduce the time to close, all while ensuring the highest levels of compliance, quality and efficiency. Other company and product names may be trademarks or copyrights of their respective owners.