MORTGAGE INDUSTRY BLOG

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Testing the URLA

Posted by DocMagic on 06/11/2019

Testing Information

The first big change with these forms is in the Uniform Loan Application Dataset, or ULAD, for short. This dataset is used to submit your application data to Fannie Mae and Freddie Mac. The GSEs mapped ULAD to MISMO version 3.4.  They used 3.4 because the GSEs would have to engage in extensive use of extensions to have used a lower version of MISMO. They also state that you must use ULAD to submit your data to Desktop Underwriter and your Loan Product Advisor if you're using the new, redesigned URLA. The two things need to go together. If you are interested in the data transmission of your application data to the GSE's automated underwriting systems, they did provide ULAD testing cases on their website, which you can find at fanniemae.com or freddiemac.com.

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Understanding URLA: Updates, Improvements, and Deadlines

Posted by DocMagic on 06/06/2019

Understanding the New URLA

The new URLA is bringing us into the 21st century. Along with improving accuracy and the clarity of information being provided by the borrower, the coming changes will make the process more efficient for lenders. As with all changes, there is a learning curve. The key to preparing for a smooth transition is understanding the changes, identifying where they will be on the new forms and beginning testing to eliminate workflow interruptions.

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UCD Requirements Webinar - September 12th, 2017 at 10:00 AM PDT

Posted by DocMagic on 08/30/2017

Join Tanya Brennan, DocMagic's eService Product Specialist, for a FREE educational webinar.

Learn what you need to know to prepare for the Uniform Closing Dataset (UCD) Requirement before the September 25, 2017 deadline. Our special guests Daniel Miller, Digital Alliance Manager & Sejal Patel, Financial Service Manager from the Single Family Digital Products division at Fannie Mae will be on hand to answer your questions about UCD.

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Webinar: Get Ready for the UCD Requirement- What you need to know!

Posted by DocMagic on 07/03/2017

Join us for a Free DocMagic Webinar: Get Prepared for the UCD Requirement! 
July 11th  |  10AM PDT

Join our own Tim Anderson, Director of eServices, along with Kathy Scanlon, Lead Project Manager – UCD / Loan Closing Advisor at Freddie Mac, for a FREE educational webinar! Learn what you need to know to prepare for the Uniform Closing Dataset (UCD) Requirement before the September 25, 2017 deadline.

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The URLA Gets A Facelift

Posted by DocMagic on 09/13/2016

Industry experts weigh in on recent changes to Fannie Form 1003/Fredie Form 67.

By Patrick Barnard

In the first update for the form in more than 20 years, government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac have redesigned the Uniform Residential Loan Application (URLA – Fannie Form 1003/Freddie Form 67) in order to make it simpler to use and to add new data fields for increased reporting under the Home Mortgage Disclosure Act (HMDA).

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DocMagic Integration Supports MERS eRegistry

Posted by DocMagic on 02/17/2015

Press Release:
Company joins select group of vendors that can use industry standard eNote registry

TORRANCE, Calif., Feb. 17, 2015 -- DocMagic, Inc., the leading provider of fully-compliant loan document preparation, compliance, eSign and eDelivery solutions for the mortgage industry, announced that the firm has now completed its integration with the MERS® eRegistry, making it one of only a few industry vendors to integrate with the widely used system.

Launched in 2004, the MERS® eRegistry is the legal system of record that identifies the owner or holder (Controller) and custodian (Location) for registered eNotes and provides greater liquidity, transferability and security for lenders, according to MERSCORP Holdings, Inc. It was created in response to demand by the mortgage industry for a system to satisfy certain safe harbor requirements under the Uniform Electronic Transactions Act (UETA) from 1999, and the Electronic Signatures in Global and National Commerce Act (E-SIGN) from 2000.

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