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When you want to apply for a personal loan, you can do it online or in person. Whether you apply online or in person, lenders ask for similar details. A relationship with a local bank may help make the in-person application process more flexible if you prefer face-to-face interaction.
What is the uniform residential mortgage loan application also known as?
The URLA (also known as the Freddie Mac Form 65/Fannie Mae Form 1003) is a standardized document used by borrowers to apply for a mortgage.
What is a Section 32 loan also known as?
The Home Ownership and Equity Protection Act (HOEPA) of 1994 defines high-cost mortgages. These also are known as Section 32 mortgages because Section 32 of Regulation Z of the federal Truth in Lending Act implements the law.
What is another name for the uniform residential loan application?
No matter where you apply for your loan, you will probably fill out the same form. Known as the Uniform Residential Loan Application (or the 1003, after its Fannie Mae form number), this nine-page document provides a lender with the basic information needed to assess a borrowers qualifications.
What is another name for the uniform residential loan application Quizlet?
Uniform Residential Loan Application (URLA), also known as Form 1003 is what: is the standard form that applicants must complete when applying for a mortgage.
What is the alternative name for the 1003 loan application?
The correct answer is that the alternative names section on the 1003 loan application does not refer to a Trade Name. This section is for personal names like maiden names, aliases, and other legal names relevant to the borrower. Trade Names pertain to businesses and are not applicable to individual loan applications.
Related links
fsa - handbook - Farm Service Agency - USDA
1. Reports, Forms, Abbreviations, and Redelegations of Authority. 2. Definitions of Terms Used in This Handbook. 3. (Reserved). 4. State Supplements.
Uniform Residential Loan Application. Freddie Mac Form 65 Fannie Mae Form 1003. Effective 1/2021. To be completed by the Lender: Lender Loan No./Universal
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