WHEDA Home News - July 2007

Winner of the Home Improvement Loan Contest

Lea Sperle at Citizens Bank of Mukwonago. Lea and her staff will receive lunch on WHEDA®.

We would like to thank Lea and all of our Home Program lending partners who responded to our Home Improvement Promotional contest. As a result of receiving over 160 responses, we were able to create our new Home Improvement lender data base.

This new data base will expand the resources available to borrowers wanting a WHEDA Home Improvement loan.

Lender Paid Closing Costs

Effective immediately, the lender or mortgage broker may contribute up to $500 in closing cost assistance, provided that the lender or broker is not the property seller, or affiliated with the property seller or another interested party to the sales transaction.

Closing Document Fee Change

Please pass this information on to your closing department.

Effective October 1, 2007, the following changes will be made to outstanding document fees:

On any Note outstanding for more than 30 days after closing, the lender will be assessed a fee of $50.00 per Note, per month.
On any other closing document outstanding for more than nine months, the lender will be assessed a fee of $50.00 per document, per month.

If you have any questions regarding any of this information, contact Pat Multerer at
1-800-334-6873 or via email at pat.multerer@wheda.com.