The Capital Times — 10/03/2008 9:55 am
The financial meltdown on Wall Street is hitting the state's biggest low-income mortgage lender.
The Wisconsin Housing and Economic Development Authority, or WHEDA, has suspended issuing new mortgages because it's having a hard time selling tax-exempt bonds to investors.
The income from the bonds is the source of money that the state loans out as mortgages to first-time homebuyers of low- to moderate-income status. WHEDA made $522 million in mortgages in 2007.
WHEDA stops issuing new mortgages
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment