Wisconsin Affordable Housing Agency Suspends Lending

Posted by Orb Staff on October 03, 2008 No Comments
Categories : Residential Mortgage

The Wisconsin Housing and Economic Development Authority (WHEDA) has temporarily ceased issuing mortgages for single-family homes due to problems raising sufficient money to lend.

This is the first time in WHEDA's 30-year history that it has suffered liquidity issues to this degree, notes the Milwaukee Journal Sentinel. The agency had recently been forced to raise its interest rates to 7.5% in an effort to increase capital.

Last year, WHEDA issued $522 million in loans.

Source: Milwaukee Journal Sentinel

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