M&I Announces Extension of Foreclosure Moratorium
23 December 2009 - 2:44AM
PR Newswire (US)
Announces $5.5 billion of new credit to new and existing customers
since mid-November 2008 MILWAUKEE, Dec. 22 /PRNewswire-FirstCall/
-- Marshall & Ilsley Corporation (NYSE:MI) (M&I) today
announced it has extended its foreclosure moratorium an additional
90 days - through March 31, 2010. The initial moratorium was
announced on December 18, 2008, as part of M&I's Homeowner
Assistance Program. The moratorium is on all owner-occupied
residential loans for customers who agree to work in good faith to
reach a successful repayment agreement. The moratorium applies to
applicable loans in all M&I markets. M&I's Homeowner
Assistance Program also features streamlined assistance programs
for potentially distressed homeowners who are identified in advance
and proactively offered assistance. It also offers a foreclosure
abatement program that features several refinancing options,
including term extensions and reduced rates that can be used, as
necessary and applicable, to reduce monthly payments. In addition,
M&I continues to extend new credit to new and existing
customers. Since the infusion of capital from the U.S. Treasury in
mid-November 2008 through October 31, 2009, M&I has extended
$5.5 billion of new credit. (The "new credit" amount includes new
and expanded extensions of credit, or commitments to extend credit,
as well as renewals of existing credit where a new promissory note
was executed.) Marshall & Ilsley Corporation (NYSE:MI) is a
diversified financial services corporation headquartered in
Milwaukee, Wis., with $58.5 billion in assets. Founded in 1847,
M&I Marshall & Ilsley Bank is the largest Wisconsin-based
bank, with 192 offices throughout the state. In addition, M&I
has 53 locations throughout Arizona; 33 offices in Indianapolis and
nearby communities; 36 offices along Florida's west coast and in
central Florida; 16 offices in Kansas City and nearby communities;
26 offices in metropolitan Minneapolis/St. Paul, and one in Duluth,
Minn.; and one office in Las Vegas, Nev. M&I's Southwest Bank
subsidiary has 17 offices in the greater St. Louis area. M&I
also provides trust and investment management, equipment leasing,
mortgage banking, asset-based lending, financial planning,
investments, and insurance services from offices throughout the
country and on the Internet (http://www.mibank.com/ or
http://www.micorp.com/). M&I's customer-based approach,
internal growth, and strategic acquisitions have made M&I a
nationally recognized leader in the financial services industry.
DATASOURCE: Marshall & Ilsley Corporation CONTACT: Richard
Becker, senior vice president of Marshall & Ilsley Corporation,
+1-414-765-8111 Web Site: http://www.micorp.com/
http://www.mibank.com/
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