Which type of information is included in the Uniform Residential Loan Application (URLA)?

The Uniform Residential Loan Application (URLA) is a standardized form used by lenders to gather essential information from a borrower when they apply for a mortgage. One of the key sections of the URLA focuses on the borrower's asset information. This includes details about the borrower's financial assets, such as bank accounts, stocks, bonds, retirement accounts, and other forms of savings or investments that can demonstrate the borrower's financial stability and ability to repay the loan.

Asset information is crucial for lenders as it helps them assess the borrower’s financial health, determine the loan amount for which they qualify, and evaluate their risk level. Having a clear picture of a borrower's assets allows the lender to make informed decisions regarding the mortgage application process.

The other types of information, while important in the overall assessment of a borrower's eligibility for a loan, are covered in different sections or may be documented through other means rather than being a part of the URLA itself.