This release applies to all credit unions offering residential real estate (including mobile home) loans secured by a first mortgage or equivalent security interest. The Release describes the requirements of Wis. Stats. § 138.052. Additional requirements, under Wis. Stats. Ch. 428, are noted in this Release as applying to these loans when the amount financed is $25,000 or less. Wisconsin’s new qualified loan funds law is also described in this Release, even though not a part of § 138.052.
B047 First Lien Residential Mortgage Loans Under § 138.052
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