Wisconsin Wheda loans are frozen.
I recieved this e-mail from Wheda stating that they are suspending all new rate locks. Wheda program helps first time home buyers, investors, and small businesses obtain loans. Customers would go through a training and understanding what homeownership is and what is involved with home lending process, through educational classes.
WHEDA Temporarily Suspends Rate Locks
Effective immediately, WHEDA will not accept new rate locks under its
Home Program until further notice. While WHEDA is suspending rate locks,
WHEDA will continue to accept preapprovals in hopes that the capital
markets disruption is short-lived. The volatility of the capital markets
is impacting WHEDA's access to capital and our cost of capital. As a
result, WHEDA is suspending rate locks under its Home Program until the
capital markets stabilize and WHEDA's access to low-cost capital is
restored.
WHEDA also will waive its preapproval fee for applications received on
or after October 1, 2008, until further notice.