Wausau mortgage brokers charged with fraud - WAOW - Newsline 9, Wausau News, Weather, Sports

Wausau mortgage brokers charged with fraud


by Patrick Manning

WAUSAU (WAOW) -- Joyce Benson attempted to refinance her home. The district attorney's office says Benson went to Home-In-One a mortgage company in Wausau. The district attorney's office claims Home-in-One told Benson she couldn't refinance. And instead offered to buy the house, promising Benson she'd have a chance to buy it back.

"We have reviewed the transactions that transpired and we have found irregularities, conducted during this real estate transaction that led us to file these charges on behalf the state of Wisconsin," says assistant district attorney Ryan Wetzstone.

The state is now charging Jay Fisher and James Dupuis with fraud. They're associated with Home-In-One, as well as two other area mortgage brokers: Valley Title and Welcome Home Services.

The state alleges the men lied to a third party lender about their finances and got a loan they might not have otherwise qualified for.

The district attorney's office says Benson never got the chance to purchase the house again.

"It is our allegation that Mr. Fischer and Mr. Dupuis and their associated businesses filed fraudulent forms during this particular transaction, that did not outline truthfully and accurately the real estate transaction as it occurred," Wetzstone adds.  

The district attorney's office isn't saying if there are more victims...but gives warning when dealing with large sums of money.

"If people out in the community that have engaged in a real estate transaction have some concerns about how that real estate transaction occurred, they should certainly take it upon themselves to contact law enforcement or the department of financial institutions."

Online Reporter: Patrick Manning

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