FARM Manual - ORIGINATION PROCEDURES

R. CLOSING PACKAGE

The Lender should close the loan according to normal lending practices. After closing, the following documents must be forwarded to WHEDA within 15 business days:

1. Signed Loan Authorizations (2);
2. Copy of Note; and
3. Closing fee, equal to 1% of the guaranteed portion of the loan. (This fee can be financed and included in loan request, but will not be guaranteed).

Upon review of all closing documentation, one Loan Authorization will be signed by WHEDA and returned to the Lender. This signifies your guarantee is in effect.