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. 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 guarantee approval, and are appropriate for the loan.
Standard Wisconsin Bankers Association (WBA) documents should be used when closing a guaranteed loan. In situations where the lending institution has their own Business Note, it may be used as long as it clearly states the terms of the approved loan.
When completing the loan documents list the Lender, not WHEDA, as the lender and secured party to the loan.
