The following is a listing of recent Executive Orders issued by the Governor.
Executive Order 322. Relating to a Proclamation that the Flag of the United States and the Flag of the State of Wisconsin be flown at Half-Staff as a mark of Respect for Assistant Chief Gregory Quinn of the Village of Westfield Volunteer Fire Department.
Executive Order 323. Relating to a Proclamation that the Flag of United States and the Flag of the State of Wisconsin be Flown at Half-Staff as a Mark of Respect for those Brave Americans Who Lost Their Lives as a Result of the Attack on Pearl Harbor.
Public Notice
Public Notice
Dept. of Financial Institutions
Division of Savings Institutions
Notice of Interest Rate on Required
Residential Mortgage Loan Escrow Accounts
Under s. 138.052 (5) (a), Stats., with some exceptions, a bank, credit union, savings bank, savings and loan association or mortgage banker which originates a residential mortgage loan requiring an escrow account to assure the payment of taxes or insurance shall pay interest on the outstanding principal balance of the escrow.
Section 13.052 (5) (am) 2, Stats., directs the Department of Financial Institutions, Division of Savings Institutions to determine annually the required interest rate. The rate is based on the average interest rate paid by Wisconsin depository institutions on passbook savings accounts.
The Department of Financial Institutions, Division of Savings Institutions, has calculated the interest rate required to be paid on escrow accounts under s. 138.052 (5), Stats, to be 2.83% per year. This interest rate shall remain in effect until the first day of the first month following publication of a new interest rate in the Wisconsin Administrative Register.
The interest rate of 2.83% per year applies to escrow accounts required for residential mortgage loans originated on or after January 1, 1997, and to escrow accounts required for residential mortgage loans originated after January 31, 1983, and before January 1, 1997, which do not specify an interest rate in the loan agreement.
Contact People
Mr. Bob Bonner, Secretary's Office
Telephone (608) 266-0450
Department of Financial Institutions
Mr. Thomas M. Boykoff, Administrator
Telephone (608) 261-4338
Division of Savings Institutions
Department of Financial Institutions
The State of Wisconsin
Department of Administration
Document Sales Unit
P.O. Box 7840
Dated Material. Please Do Not Delay!
