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Bank of America Drops MGIC
Posted on February 5th, 2010 No commentsMilwaukee-based MGIC Investment Corp. has lost Bank of America as a customer. In December 2009, the mortgage insurer disclosed that B of A had sued MGIC for refusing to pay an estimated $100 million in claims the past two years. Read the story in the Business Journal of Milwaukee.
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Anchor Reports $12.2M Loss for Quarter
Posted on February 5th, 2010 No commentsThe parent company of AnchorBank lost $12.2 million in the quarter ended Dec. 31 as it increased loan loss reserves again. CEO Chris Bauer noted that while the quarterly provision for loan losses remained high at almost $10.5 million, it was down $50.4 million from the previous quarter. Read the Milwaukee Journal Sentinel article.
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Bank Declines Land in Foreclosure Suit
Posted on February 5th, 2010 No commentsM&I Bank has filed a foreclosure suit because of a delinquent $1.6 million loan on a housing development in Franklin, Wis. The developer offered to give the bank the land, which the bank declined, according to a story in the Milwaukee Journal Sentinel.
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Home Equity an Option for Building Reserve
Posted on February 5th, 2010 No commentsOne way to build up needed personal reserves “may be to leverage your home and use loan proceeds to populate your emergency reserve,” writes Dick Hensley, CEO of InvestorsBank in Waukesha, in the Milwaukee Small Business Times.
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Wells Rolls Out Text Banking to Customers
Posted on February 5th, 2010 No commentsWells Fargo & Co. has begun offering “text banking” to all its customers, including those who haven’t yet enrolled in the bank’s online-banking program, the Business Journal of Milwaukee reported.