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The Federal Housing Agency is requesting comments on its newly proposed changes to the Department of Housing and Urban Development's "Addendum to Uniform Residential Loan Application." The proposed changes are based on suggestions made during the proposal's previous comment period.

The addendum (Form 92900-A) is filled out by lenders and used by the Federal Housing Administration to determine the eligibility of the borrower and proposed transaction.

In July, NAFCU Regulatory Affairs Counsel Alexander Monterrubio praised the initial proposal, but urged HUD keep in mind the impending effective date of CFPB's Truth in Lending Act and Real Estate Settlement Procedures Act integrated disclosure (TRID) rule (now slated to take effect on Oct. 3). He urged sufficient time for credit unions to implement the revised form. After the comment period, HUD specifically noted that concern and is now anticipating a November 2015 implementation date.

NAFCU staff are evaluating the newly proposed changes for their potential impact on credit unions.