MILWAUKEE, July 1 /PRNewswire-FirstCall/ -- Marshall &
Ilsley Corporation (NYSE: MI) (M&I) today announced it has
extended its foreclosure moratorium an additional three months –
through September 30, 2010. The
initial moratorium was announced on December
18, 2008, as part of M&I's Homeowner Assistance Program.
The moratorium is on all owner-occupied residential loans for
customers who agree to work in good faith to reach a successful
repayment agreement. The moratorium applies to applicable loans in
all M&I markets.
M&I's Homeowner Assistance Program also features streamlined
assistance programs for potentially distressed homeowners who are
identified in advance and proactively offered assistance. It also
offers a foreclosure abatement program that features several
refinancing options, including term extensions and reduced rates
that can be used, as necessary and applicable, to reduce monthly
payments.
In addition, M&I continues to extend new credit to new and
existing customers. Since the infusion of capital from the U.S.
Treasury in mid-November 2008 through
April 30, 2010, M&I has extended
over $7.4 billion of new credit. (The
"new credit" amount includes new and expanded extensions of credit,
or commitments to extend credit, as well as renewals of existing
credit where a new promissory note was executed.)
Marshall & Ilsley Corporation (NYSE: MI) is a diversified
financial services corporation headquartered in Milwaukee, Wis., with $56.6 billion in assets. Founded in 1847, M&I
Marshall & Ilsley Bank is the largest Wisconsin-based bank, with 192 offices
throughout the state. In addition, M&I has 53 locations
throughout Arizona; 33 offices in
Indianapolis and nearby
communities; 36 offices along Florida's west coast and in central
Florida; 15 offices in
Kansas City and nearby
communities; 26 offices in metropolitan Minneapolis/St. Paul, and one in Duluth, Minn.; 17 offices in the greater
St. Louis area; and one office in
Las Vegas, Nev. M&I also
provides trust and investment management, equipment leasing,
mortgage banking, asset-based lending, financial planning,
investments, and insurance services from offices throughout the
country and on the Internet (www.mibank.com or www.micorp.com).
M&I's customer-based approach, internal growth, and strategic
acquisitions have made M&I a nationally recognized leader in
the financial services industry.
SOURCE Marshall & Ilsley Corporation