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Wis. SBA Lending on the Rise
Posted on July 14th, 2009 No commentsSBA-guaranteed lending in Wisconsin has now risen for four straight months after hitting a current-recession low of $13.9 million in February. Lenders made 221 loans totaling $50.1 million in June, the Milwaukee Journal Sentinel reported.
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Online Banking Grows in Popularity
Posted on July 14th, 2009 No commentsMore than 2 million U.S. households adopted online banking and bill payment during the last year, according to a new consumer survey of 88.2 million households conducted by Fiserv. Four out of five households with Internet access now use online banking services, and the majority of Americans also pay at least one bill online. Read the Small Business Times article.
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Survey: Mark-to-Market Accounting Has Lost Validity
Posted on July 14th, 2009 No commentsFinancial professionals believe that the tumultuous financial marketplace has damaged the effectiveness of Fair Value Accounting, also known as mark-to-market accounting, according to a recent survey released by Milwaukee-based Valuation Research Corp. Read the Small Business Times article.
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Wells Sells $600M in Subprime Loans
Posted on July 14th, 2009 No commentsWells Fargo sold $600 million in mostly non-performing subprime loans to Irvine, Calif.-based Arch Bay Capital, National Mortgage News reported, citing sources familiar with the sale. The industry publication said the loans sold for 35 cents on the dollar, about double what most hedge funds were offering. Read the Business Journal of Milwaukee article.