DAILY WISCONSIN

Banking/Finance

Milwaukee faces foreclosure crisis

At issue is information that major mortgage-servicing companies have given to the city and community groups like Common Ground that suggest there are hundreds of properties that are delinquent on loans or are underwater, meaning property owners or the holder of the mortgage owe more than the home is worth. Via City officials warn of…

Debt crushes housing

Every $250 in monthly household student loan debt payments reduces that household’s home purchasing power by $44,000, the study by John Burns Consulting in Irvine projected. Via Student loan debt costing U.S. housing market $83 billion annually in lost home sales, study says @ JS School Zone Blog.

Almost normal again

Court records show foreclosure filings in Kenosha, Milwaukee, Ozaukee, Racine, Walworth, Washington and Waukesha counties totaled 2,857 in the first six months of 2014, the lowest level for a half-year span since 2,820 were recorded in 2006. Filings peaked in the seven-county region at 6,292 during 2009. Via Foreclosures recede to pre-crisis level for first…

Understanding zombie properties

One can imagine two contending explanations. The first is that the whole lending process became too complicated. A bunch of hubristic whiz kids thought they could eliminate risk through algorithms rather than traditional tools like underwriting and requiring down payments. This involved creating a complicated ownership structure for packaged loans – so no one would…

Aaron Rodgers as a security

A San Francisco-based brokerage service announced on Thursday a new marketplace where investors can buy and sell shares linked to the value and performance of the brand of an athlete. Via Want a piece of Aaron Rodgers? It could happen through stock @ JS Business of Sports Blog.