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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‘Think Like a Banker’ in Foreclosure
Posted on February 27th, 2011 No comments“Don’t give up your home without a ‘good’ fight. We don’t mean tearing the house apart or suing the bank. We mean an intelligent battle during which you make the best financial decisions for your future,” writes Mark Balaban of the Manitowoc County Board of Realtors in a Manitowoc Herald Times Reporter column. -
14% of Wis. Home Sales Were Foreclosures
Posted on February 25th, 2011 No commentsNearly 14 percent of all homes sold in Wisconsin last year were foreclosure properties, and they tended to sell for about 35 percent less than non-foreclosed homes, according to RealtyTrac. Nationally in 2010, about 26 percents of all U.S. residential sales were foreclosure deals and the average discount was 28 percent. Read the Milwaukee Journal Sentinel article. -
Bank-Owned Properties ‘Overrun Market’
Posted on February 25th, 2011 No commentsThere were 1,117 foreclosures cases in Adams, Columbia, Sauk and Juneau counties in 2010. “At one time, foreclosures were nearly unheard of in the area, local realtors say. But now, the glut of bank-owned properties, or REOs, have overrun the market – and may continue to do so for several more years,” according to the Wisconsin Dells Events. -
Wis. 40th in Mortgage Delinquencies
Posted on February 17th, 2011 No commentsIn the fourth quarter of 2010, 8.93 percent of all mortgages were past due in the U.S. – at least one payment behind but not in foreclosure – compared with 10.44 percent in fourth quarter 2009. Wisconsin ranked 40th in the nation with a delinquency rate of 6.26 percent, down from 7.96 percent in fourth quarter 2009. Figures aren’t seasonally adjusted. Read the Milwaukee Journal Sentinel story. -
Buyers’ Communication with Bank Breaks Down
Posted on February 8th, 2011 No comments“For Dave Dokman and fiancee Jackie Erickson, the purchase of their Deerfield home was supposed to be the start of their life together, but the couple said that dream has become a nightmare. The couple said they’ve been left wondering what will happen to their home after their bank failed to deliver on its written promises and stopped returning their calls and e-mails,” according to a story on Madison’s Channel3000.com. -
‘Rise and Fall of a Foreclosure King’
Posted on February 6th, 2011 No comments“The rise and fall of [foreclosure lawyer David] Stern, now 50, provides an inside look at how the foreclosure industry worked in the last decade – and how it fell apart. It also shows how banks, together with their law firms, built a quick-and-dirty foreclosure machine that was designed to take as many houses as fast as possible,” read an Associated Press article posted on the Wisconsin State Journal web site. -
2,400 HAMP Modifications in Wis. So Far
Posted on February 3rd, 2011 No commentsThe Wisconsin Center for Investigative Journalism notes that in 2010 alone, an estimated 29,940 foreclosures were filed in Wisconsin. The Center found that so far, there have been about 2,400 Home Affordable Modification Program (HAMP) loan modifications in the Milwaukee-Waukesha-West Allis metro area and almost 500 in Madison. Across all metro areas in the state, there have been 4,700 HAMP modifications, according to Milwaukee News Buzz. -
Wis. Foreclosure Filings Down Slightly in ’10
Posted on January 4th, 2011 No commentsWisconsin foreclosure filings dipped slightly last year from the record level of 2009 and it’s unlikely that the pace will slow much in 2011. There were 29,940 filings in the state in 2010, compared with 30,639 in 2009 – a 2.2 percent decline – according to statistics reported in the Milwaukee Journal Sentinel. -
Fox Valley Group United on Foreclosures
Posted on October 31st, 2010 No commentsThe Community Foundation for the Fox Valley Region and United Way Fox Cities has brought together leaders from business, banking, government, law enforcement, education and the nonprofit sector to define the problem and seek solutions to the foreclosure crisis. “We’re still early in the discussion, but we agree we must focus on helping people prevent foreclosures before they happen,” wrote columnists in the Appleton Post Crescent.
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Big Banks Address Milwaukee Foreclosures
Posted on October 24th, 2010 No commentsRepresentatives of five of the nation’s leading banks told a crowd of 1,100 that they would work with the advocacy group Common Ground to deal with Milwaukee’s foreclosure crisis, including maintaining vacant land and boarded-up properties. Representatives from U.S. Bank, Wells Fargo, Bank of America, JPMorgan Chase & Co. and Deutsche Bank were at the meeting. Read more in the Milwaukee Journal Sentinel.