The Wisconsin based CUSO, Central State Mortgage, suspended operations on Monday. The CUSO is one of the nation’s largest mortgage companies serving 250 credit unions nationwide.
On Monday the Milwaukee Journal Sentinel stated that Central States “has been involved in numerous controversial dealings and recently filed a racketeering suit against Richard Jungen, its founder and former CEO. The suit against Jungen and other former executives charges they defrauded the company out of at least $15 million.”
Central States Mortgage is owned by 25 Wisconsin based credit unions and the Wisconsin Credit Union League.
Randall C. Smith, Managing Editor
CUiNSIGHT.com
Wednesday, March 11, 2009
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