Two mortgage brokers allegedly used an Internet dating service to persuade a Michigan doctor to refinance his home, then diverted the funds to their own account, according to an investigation by the Colorado Division of Real Estate.
The division has permanently revoked the license of mortgage broker Stephen Benaske and ordered him to pay the victim $24,000. Mortgage broker Laura Stearnes’ license was revoked eight months ago, and she was ordered to pay $70,000 in restitution.
The division alleges that Stearnes met the doctor over the Internet and persuaded him to refinance his home. She then allegedly told the title insurance company to place the loan proceeds in Benaske’s bank account.
Neither Benaske nor Stearnes could be reached for comment.
Last year, Benaske was arrested in San Diego on charges of criminal conspiracy and theft of more than $15,000.
“We’re increasingly finding that loan originators we sanction leave Colorado and go to other states,” said Erin Toll, director of the Colorado Division of Real Estate. “But as of Aug. 5, if you get your license revoked in any state in the country, you cannot originate loans in any other state. Our action precludes Mr. Benaske from originating loans in any other state.”
The Division of Real Estate has been cooperating with the Denver district attorney’s office on its criminal investigation into the case.
Stearnes pleaded guilty to grand theft and was sentenced in July to two years of supervised probation in Michigan and ordered to pay $50,000 in restitution, said Robin Finegan, spokeswoman for the Denver district attorney’s office.
Benaske’s case is set for trial, but he has requested a continuance to find new counsel, Finegan said.
In an unrelated case, the Division of Real Estate suspended the license of mortgage broker Paul Cardenas of Centennial. The division alleges that Cardenas falsified income and asset information for borrowers and used fake bank-account numbers regarding several properties in Erie.
The division also alleges that Cardenas helped Kenneth Fairchild, who was previously denied a mortgage-broker license, secure loans for borrowers.
Cardenas could not be reached for comment. Fairchild declined to comment.
Margaret Jackson: 303-954-1473 or mjackson@denverpost.com
