We are reviewing a HELOC note example on our new LOS, and are questioning the application of payments section.

It states the order as:
1) Finance Charges
2) Unpaid principal
3) Late charges and other charges

Can anyone point me in the direction of the posting/application of payments in the Wis Statute? I would have guessed 138.052, but am not having any luck. I don't think this would be a WCA thing either.

Also, does anyone know where a HELOC annual fee would tie in to the order, according to state law?

I am not that familiar with WI law, but State law usually does not dictate posting order. It usually only prohibits the pyramiding of late fees (as does Federal regulation).