A servicing requirement is to provide WHEDA with loan balances, statuses and, if appropriate, an annual servicing fee at the end of each calendar year. The Annual Status Report, provided by WHEDA each January, is the mechanism used to report this information. WHEDA will send the form and instructions to the Lender.
WHEDA's receipt, review and/or comment (or failure to comment) on the Annual Loan Status Report or other information regarding the Borrower, the Lender's servicing or the status of the loan does not reduce or otherwise modify the Lender's duty to properly service the loan in accordance with good lending practices in order to collect on the Guarantee.
