BANCO MORTGAGE COMPANY - Revision history

Randylyon at 18:28, 3 May 2018

2018-05-03T18:28:03Z

← Older revision		Revision as of 18:28, 3 May 2018
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	In 1981 the company announced that it would be closing its Dubuque office. [[BUDDE, Linda\|Linda BUDDE]], assistant manager of the Banco office, explained, however, that Banco would continue to offer mortgages under an arrangement with [[FIRST NATIONAL BANK OF DUBUQUE]]. She would generate the home loans with Banco agreeing to buy the mortages. (2)		In 1981 the company announced that it would be closing its Dubuque office. [[BUDDE, Linda\|Linda BUDDE]], assistant manager of the Banco office, explained, however, that Banco would continue to offer mortgages under an arrangement with [[FIRST NATIONAL BANK OF DUBUQUE]]. She would generate the home loans with Banco agreeing to buy the mortages. (2)

	During its existence in Dubuque, Banco often made the news. In 1978 real estate agents and contracts referred to Banco as "the only game in town." Steve Jenn, manager of the office, agreed this was probably true since it was the only lending agency making loans to anyone with less than 25% down. Local attorneys claimed the company was created a closed legal system by accepting title opinions from only three Dubuque lawyers. Jenn explained this by saying the company had to guarantee its mortgages against any title defect. The three attorneys had proven records in their work with Banco. (3) In 1980, a time of falling interest rates, the company announced that its method of calculating interest rates on government-backed loans would be determined on the date of closing rather than the date of application. This would allow buyers to take advantage of falling rates. (4)		During its existence in Dubuque, Banco often made the news. In 1978 real estate agents and contracts referred to Banco as "the only game in town." Steve Jenn, manager of the office, agreed this was probably true since it was the only lending agency making loans to anyone with less than 25% down. Local attorneys claimed the company was created a closed legal system by accepting title opinions from only three Dubuque lawyers. Jenn explained this by saying the company had to guarantee its mortgages against any title defect. The three attorneys had proven records in their work with Banco. (3) In 1980, a time of falling interest rates, the company announced that its method of calculating interest rates on government-backed loans would be determined on the date of closing rather than the date of application. This would allow buyers to take advantage of falling rates. (4) The issue was resolved with Banco accepting the work of other attorneys if their work was prompt. (5)

	The 1974 through 1980 ''Dubuque City Directory'' listed 140 Dubuque Plaza.		The 1974 through 1980 ''Dubuque City Directory'' listed 140 Dubuque Plaza.
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	3. "Banco Plays 'Only Game in Town," Stirs Up Local Attorneys," ''Telegraph Herald'', June 25, 1976, p. 20		3. "Banco Plays 'Only Game in Town," Stirs Up Local Attorneys," ''Telegraph Herald'', June 25, 1976, p. 20

	3. "New Banco Mortgage Policy," ''Telegraph Herald,'' June 22, 1980, p. 34		4. "New Banco Mortgage Policy," ''Telegraph Herald,'' June 22, 1980, p. 34

			5. Interview with Jim Schilling, May 2, 2018

	[[Category: Loans]]		[[Category: Loans]]

Randylyon at 03:48, 2 May 2018

2018-05-02T03:48:34Z

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-BANCO MORTGAGE COMPANY.
+BANCO MORTGAGE COMPANY. A subsidiary of Northwest Bancoporation, a giant in Midwest banking in 1981 and the fourth-largest mortgage banker in the United States, Banco had fifty offices in seventeen states. Before 1970, agents of the company had driven from Waterloo to Dubuque to do business.  The company specialized in federally guaranteed loans from the Federal Housing Administration and Veterans Administration. It was generally considered Dubuque's second-largest home loan source behind [[DUBUQUE SAVINGS AND LOAN ASSOCIATION]].  (1)
 The 1974 through 1980 ''Dubuque City Directory'' listed 140 Dubuque Plaza.
 [[Category: Loans]]

Randylyon at 01:00, 30 April 2018

2018-04-30T01:00:10Z

← Older revision		Revision as of 01:00, 30 April 2018
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	BANCO MORTGAGE COMPANY. The 1974 through 1980 ''Dubuque City Directory'' listed 140 Dubuque Plaza.		BANCO MORTGAGE COMPANY.

			The 1974 through 1980 ''Dubuque City Directory'' listed 140 Dubuque Plaza.

	[[Category: Loans]]		[[Category: Loans]]

Randylyon at 16:36, 7 July 2013

2013-07-07T16:36:04Z

← Older revision		Revision as of 16:36, 7 July 2013
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	BANCO MORTGAGE COMPANY. The ~~1977~~ through 1980 ''Dubuque City Directory'' listed 140 Dubuque Plaza.		BANCO MORTGAGE COMPANY. The 1974 through 1980 ''Dubuque City Directory'' listed 140 Dubuque Plaza.

	[[Category: Loans]]		[[Category: Loans]]

Randylyon at 21:40, 17 February 2013

2013-02-17T21:40:37Z

← Older revision		Revision as of 21:40, 17 February 2013
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	BANCO MORTGAGE COMPANY. The 1977 ''Dubuque City Directory'' listed 140 Dubuque Plaza.		BANCO MORTGAGE COMPANY. The 1977 through 1980 ''Dubuque City Directory'' listed 140 Dubuque Plaza.

	[[Category: Loans]]		[[Category: Loans]]

Randylyon at 16:04, 9 December 2012

2012-12-09T16:04:53Z

← Older revision		Revision as of 16:04, 9 December 2012
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	BANCO MORTGAGE COMPANY. The 1977 ''Dubuque City Directory'' listed 140 Dubuque Plaza.		BANCO MORTGAGE COMPANY. The 1977 ''Dubuque City Directory'' listed 140 Dubuque Plaza.

	[[Category: ~~Banks~~]]		[[Category: Loans]]

Randylyon: New page: BANCO MORTGAGE COMPANY. The 1977 ''Dubuque City Directory'' listed 140 Dubuque Plaza. Category: Banks

2012-11-24T21:30:32Z

New page: BANCO MORTGAGE COMPANY. The 1977 ''Dubuque City Directory'' listed 140 Dubuque Plaza. Category: Banks

New page

BANCO MORTGAGE COMPANY. The 1977 ''Dubuque City Directory'' listed 140 Dubuque Plaza.

[[Category: Banks]]