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WHEDA v. VEREX ASSURANCE

No. 89-0754.

159 Wis.2d 57 (1990)

464 N.W.2d 10

WISCONSIN HOUSING & ECONOMIC DEVELOPMENT AUTHORITY, Plaintiff-Respondent, v. VEREX ASSURANCE, INC., a Wisconsin insurance corporation, Defendant-Substituted-Plaintiff-Appellant, IDL MORTGAGE CORPORATION, Defendant-Third Party Plaintiff, v. Doris SMITH, Marlene Ramsey, Crown Realty Co., Inc., Milton Dizack, Andrew Mosby, Lillie Maye Mosby, Lillie Hayes, Century 21 Cambridge Realty, Inc., Gerry Kopps, Emil Harder, Thomas Brainard, David B. Beving, and Rosie V. Nonn, f/k/a Rosie Beving, Third Party Defendants.

Court of Appeals of Wisconsin.

Decided November 1, 1990.

Attorney(s) appearing for the Case

For the defendant-substituted plaintiff-appellant the cause was submitted on the brief of Daniel W. Hildebrand and Joseph A. Ranney of Ross & Stevens, S.C. of Madison, and oral argument by Daniel W. Hildebrand.

For the plaintiff-respondent the cause was submitted on the brief of Jon P. Axelrod, Margaret A. Satterthwaite and William D. Mollway of DeWitt, Porter, Huggett, Schumacher & Morgan, S.C. of Madison, and oral argument by Jon P. Axelrod.

Before Eich, C.J., Gartzke, P.J. and Dykman, J.

DYKMAN, J.

Verex Assurance, Inc. (Verex) appeals from a judgment declaring that Verex cannot rescind an insurance policy insuring the Wisconsin Housing and Economic Development Authority (WHEDA) because of alleged misrepresentations in the application process. We conclude that sec. 631.36, Stats., regulates both cancellations and rescissions and therefore affirm.

BACKGROUND

WHEDA administers the "Home Program," which enables low-income residents...

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