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Milwaukee Small Biz Loans Quadruple
Posted on March 5th, 2010 No commentsLoans made through the U.S. Small Business Administration quadrupled in the Milwaukee area in February compared with February 2009 as the improving economy and stimulus measures continue to encourage SBA lending. Read more in the Business Journal.
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Lenders May Lose Billions on Fannie, Freddie
Posted on March 5th, 2010 No commentsLenders including Wells Fargo & Co., Bank of America Corp., Citigroup Inc. and JPMorgan Chase & Co. may be forced to buy back $21 billion in faulty loans from Fannie Mae and Freddie Mac. “The agencies, which have suffered $200 billion in losses since 2007, have been cracking down on boom-era loans issues that may have been issued based on falsely stated incomes or inflated appraisals,” the Business Journal reported.
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Consultant Must Stop Mortgage Modifications
Posted on March 5th, 2010 No commentsThe Wisconsin Department of Financial Institutions has ordered Rightway Solutions Inc., a Janesville foreclosure consultant, not to sell mortgage modification services and to refund fees it has charged to customers, according to the Milwaukee Journal Sentinel.