Wisconsin Banking Update
Providing banking news in Wisconsin that Wisconsin Bankers can use. Keep on top of all the banking issues that are affecting Wisconsin in one place. If you would like to receive these updates by email please subscribe by entering your email address on the right. There is no cost and no obligation.
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This Recession Rivals – or Tops – the 1980s
Posted on August 8th, 2009 No commentsAs tough as times were during the recession of the early 1980s, what’s going on today looks just as bleak. Consider that now, compared with then, mortgage foreclosures are worse, stocks have plunged more deeply, and the percentage of jobs lost has been more than twice as great as it was in the ’80s. Read the Milwaukee Journal Sentinel article.
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Standards Tightened for Condo Loans
Posted on August 8th, 2009 No commentsNervous about the condominium market nationwide, Fannie Mae and Freddie Mac have tightened their standards for buying condo mortgage loans from banks. As a result, banks are cutting back on condo loans, requiring bigger down payments and higher interest rates from condo buyers, the Milwaukee Journal Sentinel reported.