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URLA

URLA 2020 (URLA)


Description
Under the new implementation timeline, after a period of testing, lenders may begin using the new URLA form on Jan. 1, 2021. From that date through March 1, 2021, use of the new URLA form is optional. But after March 1, the use of the new URLA form is mandatory.

This course will help you with some of the most important information that you need to help with your transition from the 1003 to the URLA.

You will understand where all of the important information is on the 2020 URLA 1003 versus where it was on the 2009 URLA 1003.
Content
  • Prepare to meet your URLA
  • Introductions
  • Course Summary and Next Steps
  • Survey about URLA before you start
  • Course Summary and Next Steps
  • 1003 - URLA - Lender
  • 1003 URLA - Lender - Review of Top of the form above Section L1
  • 1003 URLA - Lender - Section L1 - Property and Loan Information
  • 1003 URLA - Lender - Section L2 - Title Information
  • 1003 URLA - Lender - Section L3 - Mortgage Loan Information
  • 1003 URLA - Lender - Section L4 - Qualifying the Borrower sample
  • 1003 URLA - Lender - Section L5 - Homeownership Education
  • 1003 - URLA - Continuation
  • URLA - Continuation
  • 1003 - URLA Part 1
  • 1003 - URLA Part 1 - Section 1a - Personal Information sample
  • 1003 - URLA Part 2
  • 1003 - URLA Part 2 - Section 1b - Current/Self Employment and Income
  • 1003 - URLA Part 2 - Section 1c - Additional/Self Employment and Income
  • 1003 - URLA Part 2 - Section 1d - Previous Employment and Income
  • 1003 - URLA Part 2 - Section 1e - Income from Other Sources sample
  • 1003 - URLA Part 3
  • 1003 - URLA Part 3 - Section 2a - Assets - Bank Accounts, Retirement, etc. sample
  • 1003 - URLA Part 3 - Section 2b - Other Assets You Have
  • 1003 - URLA Part 3 - Section 2c - Liabilities - Credit Cards, Other Debts, etc.
  • 1003 - URLA Part 3 - Section 2d - Other Liabilities and Expenses
  • 1003 - URLA Part 3 - Section 3 - Financial Information - Real Estate
  • 1003 - URLA Part 4
  • 1003 - URLA Part 4 - Section 4a - Loan and Property Information
  • 1003 - URLA Part 4 - Section 4b - Other New Mortgage Loans on the Property sample
  • 1003 - URLA Part 4 - Section 4c - Rental Income on the Property
  • 1003 - URLA Part 4 - Section 4d - Gifts or Grants You Have
  • 1003 - URLA Part 4 - Section 5a - About this Property and Your Money
  • 1003 - URLA Part 4 - Section 5b - About Your Finances
  • 1003 - URLA Part 4 - Section 6 - Acknowledgments and Agreements
  • 1003 - URLA Part 4 - Section 7 - Military Service
  • 1003 - URLA Part 4 - Section 8 - Demographic Information
  • 1003 - URLA Part 4 - Section 9 - Loan Originator Information
  • Review of the Printed URLA with the Lender, Borrower and Coborrower
  • Review of the Printed 2020 1003 with the Lender, Borrower and Coborrower
  • Taking an efficient application on the 2020 1003
  • Taking an efficient application on the 2020 1003
  • P.S. Units - Important Items Revisited
  • Section 1a - P.S. - Alternate Names
  • Section 1a - P.S. - Income from Other Sources sample
  • Section 2a - P.S. - Verification of Deposits
  • Section 3 - P.S. - Investment Properties
  • Section L4 - P.S. - Other Credits
  • Final Exam
  • Survey at the end of the URLA class
  • URLA 2020 - Final Exam
Completion rules
  • All units must be completed
  • Leads to a certificate with a duration: Forever