Local News

Mortgage Dealer Claims He Did Not Mislead Customers

Posted August 5, 2005

— Chris Wollin's company, Home Town Financial of Fayetteville, sells modular homes. He spent five years building the business. Now, the state attorney general's office is building a case against him.

The state attorney general's office says his company misled customers like Tony Simpson. Simpson said Home Town Financial of Fayetteville manipulated paperwork so his mother is the owner, not him.

"They told us they would do what they had to to get us in the house, but nobody thought it would be that," Simpson said.

When asked whether he misled customers, he replied, 'Absolutely not.'"

The attorney general's office filed a lawsuit that is still pending. In the meantime, Wollin is allowed to keep working, but he must abide by certain rules.

Wollin and his staff cannot mislead customers, lie on loan applications, provide down payments for customers, conspire with appraisers, withhold information or destroy sales records.

"We sell hundreds of homes. These are complaints from, my understanding, five individuals," he said.

Some homebuyers said they were tricked into spending more than expected. Wollin said he does not do financing even though his business uses the word often.

"We've never been in the business of financing. We've never been in the business of making mortgage loans," Wollin said. "We've never been in the business of appraisals. We've never been in the business of being closing attorneys."

The lawsuit names Home Town Financial of Fayetteville, its parent company CMR Properties, various salespeople and brokers.

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