Will Fannie Mae be extending the implementation timeline for the revised Form 1003 and related data set?
On Apr. 14, 2020 we announced that we will extend our implementation timeline for the redesigned URLA and automated underwriting systems (AUSs) to support the industry during the COVID-19 pandemic. The new mandate date for the use of the redesigned URLA and AUS specifications is Mar. 1, 2021. The extension provides lenders and other stakeholders additional time to prepare and implement the redesigned URLA (Fannie Mae Form 1003).
For more information, refer to the published Lender Letter LL-2020-03, Impact of COVID-19 on Originations.