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WHEDA Expects to Resume Mortgage Lending
Posted on October 23rd, 2009 No commentsA year after the financial crisis forced it to stop making mortgages, officials at Wisconsin Housing and Economic Development Authority (WHEDA) said the agency hopes to resume lending by early 2010, if not sooner, with the help of a new federal government initiative. WHEDA lending would make mortgage loans available again to low- and moderate-income Wisconsin residents at attractive rates, the Milwaukee Journal Sentinel reported.
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Home Prices Predicted to Turn Around in ’10
Posted on October 22nd, 2009 No commentsA new forecast by Fiserv Inc. predicts median home prices nationally will drop another 11.3 percent through the first half of next year but then will rise 3.6 percent by the middle of 2011. In Wisconsin’s biggest metro areas, home prices – as they have throughout the downturn – are expected to fall less than in cities in boom states such as California and Florida. But then they will appreciate more slowly than the national average once the corner is turned, the Milwaukee Journal Sentinel reported.
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Associated Returns to Profitability
Posted on October 22nd, 2009 No commentsShares of Associated Banc-Corp were moving upward after a better-than-expected earnings report, according to the Milwaukee Journal Sentinel.
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Home Prices Predicted to Turn Around in ’10
Posted on October 22nd, 2009 No commentsA new forecast by Fiserv Inc. predicts median home prices nationally will drop another 11.3 percent through the first half of next year but then will rise 3.6 percent by the middle of 2011. In Wisconsin’s biggest metro areas, home prices – as they have throughout the downturn – are expected to fall less than in cities in boom states such as California and Florida. But then they will appreciate more slowly than the national average once the corner is turned, the Milwaukee Journal Sentinel reported.
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Bank Mutual Reports Lower Earnings
Posted on October 21st, 2009 No commentsProfits fell 23 percent for Brown Deer, Wis.-based Bank Mutual Corp. in the third quarter as the bank increased its loan-loss reserves. The company’s net income fell to $1.2 million, or 3 cents a share, from $1.6 million, or 3 cents, in the third quarter last year. Read more in the Milwaukee Journal Sentinel.
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Index Tracks Dane Cty. Distressed Properties
Posted on October 21st, 2009 No commentsA new index designed to chart the prevalence of so-called distressed properties in Dane County, Wis., could help home buyers, sellers and agents get a better handle on how rising rates of foreclosure are affecting the local housing market. For September, the index was 0.24, suggesting that nearly a quarter of total home sales in the county involved distressed properties, or those related to foreclosure or the threat of foreclosure, according to the Wisconsin State Journal.
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AnchorBank Quarterly Loss Totals $62.9M
Posted on October 20th, 2009 No commentsIn a restatement of earnings for the quarter ended June 30, the parent company of AnchorBank, based in Madison, announced the company lost $62.9 million, which is $51.1 million more than initially reported, the Business Journal reported.
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M&I Posts Loss; Selling $775M in Stock
Posted on October 20th, 2009 No commentsWhile reporting its fourth loss in as many quarters, Marshall & Ilsley Corp. said Tuesday it is selling $775 million in common stock – its second initiative to raise capital since June, the Milwaukee Journal Sentinel reported.
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Fiserv Problem Disrupts Service at Banks
Posted on October 20th, 2009 No commentsA hardware problem at Fiserv Inc. knocked out service part of Monday and Tuesday to some financial institutions that operate with the Brookfield firm’s technology, according to the Milwaukee Journal Sentinel.
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AnchorBank Quarterly Loss Totals $62.9M
Posted on October 20th, 2009 No commentsIn a restatement of earnings for the quarter ended June 30, the parent company of AnchorBank, based in Madison, announced the company lost $62.9 million, which is $51.1 million more than initially reported. Read more in the Milwaukee Journal Sentinel.