Topic: Construction Loans
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IRS: 26 CFR §1.6041-1(e)(5), Example 12
§1.6041-1 Return of information as to payments of $600 or more. ***** (e) Payment made on behalf of another person— ***** (2) Determination of payor obligated to report. If two or […]
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Wis. Stats: 409 Uniform Commercial Code – Secured Transactions, as regards priority of a construction mortgage and fixtures.
409.334 Priority of security interests in fixtures and crops. ***** (8) Priority of Construction Mortgage. A mortgage is a construction mortgage to the extent that it secures an obligation incurred […]
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Wis. Stats: 779 Liens, as regarding construction liens.
Subchapter I – Construction Liens. 779.01 Construction liens. 779.02 Notice required to preserve lien rights; exceptions; saving clause; obligations of contractors. 779.03 Lien valid unless waived by claimant personally, or […]
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NCUA: Examiner’s Guide – Construction and Development Loans
Commercial and Member Business Loans – This section of the Examiner’s Guide addresses the following topics: Business entity types Personal guarantees Board and management responsibilities Construction and development (C&D) loans […]
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NCUA: 12 CFR 723.6
Member Business Loans; Commercial Lending (FCUs) § 723.6 Construction and development loans.
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IRS: Instructions for Forms 1099-MISC and 1099-NEC, as regarding construction loans
Specific Instructions for Form 1099-MISC – Miscellaneous Income Payments made on behalf of another person. For payments reportable under section 6041, if you make a payment on behalf of another person, who […]
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FNMA: Multi-State Construction Loan Agreement (Form 3735) (07/21)
This FNMA form is designed for use in the HomeStyle loan program and may not be appropriate for a Wisconsin credit union’s program. MS Word Ver. PDF Form 3735 Instructions
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CFPB: 12 CFR 1026 Appendix D to Part 1026
Truth in Lending (Reg. Z). Appendix D – Multiple Advance Construction Loans.
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Wis. Admin. Code: DFI-CU 72.04
Member Business Loans (State-chartered credit unions) 72.04 Construction and development loans.
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NCUA: Examiner’s Guide
NCUA provides the Examiner’s Guide as a resource for its staff to use in the supervision of credit unions. The guide is updated by NCUA’s Office of Examination and Insurance […]