MILWAUKEE, March 29 /PRNewswire-FirstCall/ -- Marshall &
Ilsley Corporation (NYSE: MI) (M&I) today announced it has
extended its foreclosure moratorium an additional 90 days – through
June 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
February 28, 2010, M&I has
extended over $6.9 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 $57.2 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.; and one office in Las Vegas, Nev. M&I's Southwest Bank
subsidiary has 17 offices in the greater St. Louis area. 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