Milwaukee-based Marshall & Ilsley Corp. (M&I) has extended its foreclosure moratorium an additional three months, through the end of the calendar year. The company initially announced its moratorium almost two years ago, on Dec. 18, 2008.
The moratorium applies to owner-occupied residential loans for customers who agree to work in good faith to reach a successful repayment agreement.
M&I also reports that it has extended over $8.9 billion of new credit since receiving a capital infusion from the U.S. Treasury in mid-November 2008.
SOURCE: Marshall & Ilsley Corp.