(4)

224.71 (4) , and savings and loan associations organized under ch. 215 , except that “lender” does not include any federal, state or local unit of government or any agency, political subdivision or instrumentality of such a unit of government.

708.10(1)(d)

(d)

“Loan settlement” means the occurrence of all of the following:

708.10(1)(d)1.

1.

The execution by the borrower of a promissory note, mortgage and any other documents that are required by the lender to be signed as a condition to the granting of a loan to the borrower.

708.10(1)(d)2.

2.

The delivery of the proceeds of the loan to the borrower or to a 3rd party on behalf of the borrower.

708.10(1)(d)3.

3.

If the borrower has a right to rescind the loan under federal or state law, the expiration of the borrower’s right of recision.

708.10(1)(e)

(e)

“Qualified loan funds” means any of the following:

708.10(1)(e)1.

1.

Wire transfer.

708.10(1)(e)2.

2.

Cashier’s check or teller’s check.

708.10(1)(e)3.

3.

A check that is negotiable, as defined in s.