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What’s The Difference Between Fannie Mae and Freddie Mac?

[fa icon="calendar'] Apr 4, 2017 5:24:55 PM / by Eustis Mortgage posted in mortgage news, fannie mae, freddie mac

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For decades, the Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) have piloted the mortgage industry for the average homebuyer. Although the two government-sponsored organizations do not actually make the loans, they play a significant role in mortgage acquisition by purchasing the loans from private mortgage lenders.

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What Is Fannie Mae Form 1003? Here’s What You Need To Know

[fa icon="calendar'] Mar 24, 2017 10:50:42 AM / by Eustis Mortgage posted in mortgage news, fannie mae

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Fannie Mae Form 1003, also known as the Uniform Residential Loan Application (URLA), is a loan application form used by lenders to acquire the details of a borrower’s financial and personal information. According to Fannie Mae and Freddie Mac, creators of Form 1003, the document is meant for borrowers seeking a loan for one to four units of residential real estate and should be submitted to the lender twice throughout the loan process.

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