Wisconsin Housing & Economic Development Authority v. Verex Assurance, Inc.

This case is before the court on petition for review of a published decision of the court of appeals, WHEDA v. Verex Assurance, 159 Wis. 2d 57, 464 N.W.2d 10 (Ct. App. 1990). The court of appeals affirmed a decision of the circuit court for Dane County, Jack Aulik, Circuit Judge. The court of appeals held that sec. 631.36, Stats. 1987-88, 1 prohibited Verex Assurance, Inc. (Verex) from rescinding, due to alleged misrepresentations in the application process, a policy of mortgage insurance insuring the Wisconsin Housing and Economic Development Authority (WHEDA). Because we find that sec.…