The documentation to close the loan originates with the Lender and it is the responsibility of the Lender to file and record all necessary financing statements and mortgages. WHEDA will not review any closing documents but will request a copy of the final executed Note. All loans, including the collateralization and the guarantees, must be evidenced by documents which are satisfactory to the Lender, comply with the terms and conditions of the Loan Authorization, and are appropriate for the loan.
Standard Wisconsin Bankers Association (WBA) or Farm Credit Service (FCS) documents should be used. In situations where the lending institution has their own agricultural Note, it may be used as long as it clearly states the terms and conditions of the approved loan.
When completing the loan documents, list the Lender, not WHEDA, as the Lender and secured party to the loan.
