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You are here: Home / News / Sub prime mess ripples down to Wisconsin

Sub prime mess ripples down to Wisconsin

August 16, 2007 By WRN Contributor

Wisconsin Bank CEO's are starting to see a small ripple in the economy thanks to the sub prime lending mess.

Commercial loans are the banking industry's bread and butter. Twenty-eight percent of bank CEO's surveyed say the demand for commercial and residential loans will go down the rest of the year.

The Wisconsin Bankers Association's Eric Skrum says however, the CEO's answering the survey felt the overall economy in the state is good.

Ninety-one per cent of the respondents said they have never made or made very few sub-prime loans which are being held responsible for the trouble on Wall Street.

Skrum says people needing a loan should know that while applications may be scrutinized more closely banks still have plenty of funds available to make those loans.

Skrum says anyone with a problem making their monthly loan payments should talk to their lender right away to see what help might be available.

Banks, he says, do not want to see people lose their homes. 

AUDIO: JIm Dick reports ( 1:18 MP3 )

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Filed Under: News





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