Origination Procedures Chapter
This chapter allows the Lender to follow, in order, the origination process from application through loan closing. The origination process and items required by WHEDA are listed in the order of the checklist on the back of the Application (CROP Form 2).
In addition to the eligibility criteria established in Chapter 1, the Lender will utilize its own prudent underwriting standards when underwriting a CROP loan. The Lender's decision to originate a CROP loan must be supported by the value of the collateral for the CROP loan and the creditworthiness of the Farmer. The Lender is responsible for approving or denying the Farmer's request to obtain a CROP loan.
Lender acknowledges and agrees that if any representation or warranty made on any CROP loan proves to be materially incorrect, or if Lender defaults on the observance of any condition or term of the Participating Lender's Agreement or the Agricultural Financing Manual, WHEDA shall cancel its agreement to guarantee the CROP loan.
