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.
-
Refinancings Boost Blackhawk Profits
Posted on February 17th, 2011 No commentsThe profits of Beloit-based Blackhawk Bancorp Inc. increased 52 percent in the fourth quarter on revenue from mortgage refinancing and an improved net interest margin. The company had net income of $886,000, or 33 cents a share, up from $582,000, or 19 cents, in fourth quarter 2009, the Milwaukee Journal-Sentinel reported. -
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. -
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. -
Ex-Tax Preparer Charged in Mortgage Scam
Posted on January 28th, 2011 No commentsA former Sun Prairie tax preparer who took part in a mortgage scam with a real estate agent and a bank loan officer was sentenced to 5½ years in federal prison. The three took advantage of a Park Bank program that allowed mortgage borrowers to apply for loans using an Individual Taxpayer Identification Number instead of a Social Security number, the Wisconsin State Journal reported. -
Milwaukee Home Sales Show Decline
Posted on December 10th, 2010 No commentsThis year’s Milwaukee area home sales are running 14.5 percent behind the first 11 months of 2009, according to year-to-date figures from the real estate industry. In Wisconsin’s five biggest markets – metro Milwaukee, Dane County, Green Bay, Kenosha-Racine and the Fox Valley – building permits were up 1 percent though the first 11 months of this year. Read more in the Milwaukee Journal Sentinel. -
Barron Resident Sues Bank Over Mortgage
Posted on December 4th, 2010 No commentsLitigation action recently filed in Barron County Circuit Court is pitting a Barron resident against a local bank for allegedly mismanaging mortgages. In a civil case against First National Bank and Trust of Barron, a resident accused the financial institution of botching an agreement they had regarding mortgage payments, and the plaintiff maintained that he will be forced into bankruptcy because of it, the Barron News-Shield reported.
-
Ex-Loan Officer Sentenced for Fraud
Posted on November 24th, 2010 No commentsA former loan officer at Park Bank in Madison who took part in a scheme to issue fraudulent mortgages was sentenced to three months in federal prison. The employee worked with a former real estate agent and tax preparer to issue dozens of mortgages totaling $8 million to people who otherwise would not have qualified, the Wisconsin State Journal reported. -
‘Negligent Home Appraisals’ Alleged
Posted on November 12th, 2010 No commentsWISN-TV Channel 12 in Milwaukee reported that there are allegations of negligent home appraisal practices in Milwaukee. -
Existing Home Sales Down 11% in Milwaukee Area
Posted on November 10th, 2010 No commentsSales of existing homes in the metro Milwaukee area are down 11 percent for the year after a big drop in October, and analysts say there is no prospect of a fast turnaround, the Milwaukee Journal Sentinel reported.