I am not sure if anyone on here attended the Ellie Mae URLA webinar today. It was a joint presentation with representatives from Fannie and Freddie.

They stated that due to the complexity of coding the new URLA data fields into LP/DU that the new URLA will not be ready to use in LOS systems by 01/01/2018. The expected mandatory use date will be "TBD 2018"

Instead, an "addendum" for the demographic information will be available and the interviewer is supposed to "Mark a large X through the GMI section with a red marker"

I think I heard them say that this will be announced in the beginning of November. Has anyone heard about this?!?!?!

Steaming mad... don't see any problems happening at all..... good grief

I attended that webinar, and I took it the same way. I thought Fannie/Freddie were mandating the new URLA be used as of 1/1/2018. I guess not.

That was my thought.... I'm guessing that was the original intention..

The road to [censored] is paved in good intentions hahaha

My back seat guess - I don't think HUD is in line with the launch - and the software companies don't want to have two applications....

well HUD needs to get on board!!! haha

oh geez. I had to leave that webinar after an hour. (how long did it last anyway?)

I thought that the new 1003, the new HMDA and the new MISMO data set were all tied together to go into effect at the same time.

How the hedoubletoothpicks are we supposed to collect the info for the new HMDA if the LO marks a big red X through the GMI stuff? (does it have to be red?!!)

There is an "addendum" demographic information page to the current 1003.

according to them it is supposed to be in red. Not sure if it is more of a "guideline" or will be an investor requirement.

When all technology fails... break out the red marker.

It is a complex roll out, involving changes to the AUS systems, etc. The online form is a dynamic form that changes for various situations so it not cut and dried programming.

Hence the change in the date - the form will be reissued with the date removed and language that it is for future use.

The demographic form will be available for paper use unless you have a vendor that makes it available for electronic use as well.

Learning about the form, how it works, what it contains etc. will still be needed. I am going to present a BOL webinar on January 11 on the form, the delivery, the new info, the way it works dynamically, how to handle demographic data, etc.

The red X goes through the old GMI on the current 1003, not the new demographic data once you start to use that.

Thank you KayBee!! Just one more grenade in the fire that is HMDA implementation!

I did hear from Fannie today with a followup. For non GSE loans, you can start to use the new form in 2017. So if you want to use it in paper form or you have a vendor who is ready, it is allowed for non GSE loans only.

Sorry, but I don't guess I know what GSE is? Can you define for me?

Government Sponsored Enterprise - Fannie and Freddie since the gov't took over control.

Fannie did publish an announcement regarding the changed effective date.

Link to announcement

Thank you.