After months of preparing for the launch of the optional use period for the redesigned Uniform Residential Loan Application (URLA) form, commonly known as the 1003 form, and corresponding datasets, industry participants will have to shift into a holding pattern.
The Federal Housing Finance Agency (FHFA) recently stipulated that the period would not begin July 1 as previously scheduled and indicated that the form will be revised, with an updated version to be revealed at a later date.
Find out what questions remain prevalent around the new forms.