I'm new to community property state compliane, so forgive me if this is a dumb question,

For commercial loans, do you need a marital purpose/tattle tale letter? What stumps me is that a particular loan that I was looking at is a husband and wife business, but he is the only one that signs the notes. Seeing as how she is his wife AND business partner, it seems like we should be letting her know when he applies for new money.

Thanks for your help.

Anyone out there?

I can't find the excact reference for you at the moment. But the tattletale notice is only required for "family purpose" credit governed by the WCA.
A business loan would not be covered by the WCA so therefore the tattletale notice would not be applicable.

Thanks

If he guarantees it and she does not, I am almost positive a marital purpose comes out for her to sign. The one that says she knows he is personally liable but she is not. Just as an aside.

Hmmm, thanks. The WI stuff is much harder than the Federal. I'm going to WBA lending compliance school in Oct, hopefully that will help clarify some things.

I went last year? Maybe the year before. Are you going to the one in Wisconsin Dells?

Yep, did you find it helpful?

I really did. I was pretty new to complaince so it really gave me a great base. The test is not as hard as you think when you get there either. The teachers were great. You just pay attention while you are in the classes, you don't have to take stuff back to your room and study or anything. There were a couple that did, but it just seemed to raise more questions than answers because there isn't anyone to ask in your hotel room. I really found it very informative. Keep in mind a lot of it is still Federal Law that they teach, but you get a good base of WI law too.

Does Wisconsin recognize joint ownership of a house if the couple isn't married?

The house is owned as shown on the deed. I've seen property owned by a dozen people. Your question about an unmarried couple leads me to believe you maybe asking about a "marital domicile" issue. Sorry, can't answer that one.