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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B of A Mortgage Policy Could Benefit MGIC
Posted on March 24th, 2010 No commentsBank of America, the largest mortgage servicer in the country, will forgive up to 30 percent of some customers’ total mortgage balance. It’s a move that could also benefit Milwaukee-based mortgage insurer MGIC Investment Corp. B of A’s Countrywide unit sued MGIC in December, claiming that MGIC denied millions of dollars in valid claims. Read the Milwaukee Journal Sentinel article.
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European Bank Seizes School Districts’ Funds
Posted on March 24th, 2010 No commentsA European bank that lent money to five Wisconsin school districts that made risky investments has seized $5.6 million from district-controlled trusts to try to compel district officials to repay the debt, the Milwaukee Journal Sentinel reported. The districts were Kenosha, Kimberly, Waukesha, West Allis-West Milwaukee, and Whitefish Bay.