By Hal M. Bundrick | Nerdwallet
The first homebuying document you may see — in what will ultimately be a high pile of paperwork — is typically an official loan application form. Even if you complete the loan application process online, the required information and presentation are essentially the same.
After 20 long years, though, that form is changing.
Fannie Mae and Freddie Mac, the government-sanctioned companies that make the wheels of the mortgage industry turn, have announced the joint development of a loan application they say will be faster and easier to understand and fill out, with streamlined, plain-language disclaimers.
