Milwaukee Journal Sentinel (10/02/08) ; Gores, Paul
The Wisconsin Housing and Economic Development Authority (WHEDA) has temporarily ceased issuing mortgages for single-family homes because of the troubles it is having in raising the necessary funds to make the loans. WHEDA spokeswoman Kate Venne notes, "We primarily operate with tax-exempt mortgage revenue bonds--that's what funds our mortgages--and right now, we can't raise capital." This marks the first time in the 30-year history of Wisconsin's affordable housing agency that it has suspended its mortgage lending program due to liquidity problems. In 2007, WHEDA--the lender of first choice for many first-time home buyers who qualify--issued $522 million in home loans.
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