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BankersOnline.com Forums State-Specific Compliance Issues Wisconsin Late charges & default interest
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#614558 - 09/18/06 03:06 PM Late charges & default interest
Oly78 Offline
100 Club
Joined: Aug 2006
Posts: 136
I would like to know what other WI lenders out there are doing for late charges and default interest rates on junior lien loans. In cases where you do NOT have the 1st lien or equivalent, and the loan is over $25,000.00, what is your rule of thumb? Thanks.

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#614559 - 09/18/06 08:42 PM Re: Late charges & default interest
Beagles22 Offline
Power Poster
Joined: Jan 2004
Posts: 3,626
State of confusion
We still stick with the 2nd REM rules. 5% late fee.
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