MILWAUKEE, Oct. 1 /PRNewswire/ -- Marshall & Ilsley
Corporation (NYSE: MI) (M&I) today announced it has extended
its foreclosure moratorium an additional three months – through
December 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
August 31, 2010, M&I has extended
over $8.9 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 $53.9 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; 36 offices
along Florida's west coast and in
central Florida; 33 offices in
Indianapolis and nearby
communities; 26 offices in metropolitan Minneapolis/St. Paul, and one in Duluth, Minn.; 17 offices in the greater
St. Louis area; 15 offices in
Kansas City and nearby
communities; and one office in Las Vegas,
Nev. 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 (www.mibank.com or
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.
SOURCE Marshall & Ilsley Corporation
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