The Value of the Six-Step Loan Application

Let’s face it, the 1003 Uniform Residential Loan Application (URLA) is no fun. If you greet visitors to your website with this lengthy form when they are seeking a mortgage, don’t be surprised if they look elsewhere. Thankfully, LoanSystems’ six-step loan application is an easy-to-use and fast form that gets you the essential information to get started. Six simple pages can be completed in minutes. The data imports directly into the 1003, which can be completed by you or your client at a later time. The six-step loan application is accessible on your Loan Originator Site. For clients that just wish to get pre-qualified or ask a question, the Loan Originator Site also offers both options. And when a client submits either of these welcoming forms out, you are notified immediately, allowing you to make contact right away. These are powerful loan origination tools.

LoanSystems supports Fannie Mae 1003 MISMO® v3.4 and FNM v3.2 file formats, making it easy to manage 1003s within the Loan Status Tracker or export them to a Loan Origination Software (LOS).