Summary
This July 18, 2017 article announced planned improvements to BNTouch’s 1003 application interface, not a new agency form or a statement of current URLA requirements. Learn about the new features designed to make the form more user-friendly and efficient for both lenders and borrowers. By the end, you’ll understand how the revamped 1003 will simplify the application process and support a review process.
BNTouch is cooking something cool for you right now. The new and improved 1003 form is coming very soon. Based on your feedback we have decided to add some great features:
Customization. You will be able to make the 1003 form easier by disabling unnecessary files.
Portal integration. The new 1003 form will be integrated into your Mortgage Circles portal, so your borrowers will have a one-stop place to fill out 1003, upload files and communicate with you during transaction.
Progress bar. Your borrowers will be able to not only fill the 1003 form on your Mortgage Circles portal, but also to come back to it at anytime since the progress will be autosaved so your clients won’t lose their data.
We are just a few steps away from releasing this awesome new update. Stay tuned and look for our updates emails! Feel free to email or call us if you have any questions.
Thank you and let’s bntouch!
Key Takeaways
The new 1003 form features a more streamlined and intuitive layout, reducing the complexity of completing the application for both clients and lenders.
The improvements focus on better data collection, ensuring that all required information is gathered in a clear and structured way, reducing errors and omissions.
- Review Application Requirements
The customization, portal integration, and progress bar described here do not determine whether an application meets current lender or agency requirements.
Commonly Asked Questions
- What is the main improvement to the 1003 form?
The main improvement is a more streamlined and intuitive layout, making the form easier for both lenders and borrowers to complete.
- How does the new 1003 form enhance data collection?
The new form collects data in a more organized way, reducing errors and omissions by ensuring that all required information is gathered clearly.
- How will the new 1003 form help mortgage professionals stay compliant?
The announcement describes interface changes; mortgage professionals still need to check the applicable application requirements.
- What is the key benefit of the new 1003 form for lenders?
It describes a way to collect application information through the borrower portal, with saved progress and document uploads.
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