Introduced
by
To add to the state fraud statute explicit descriptions of specific actions related to mortgages, such as lying or leaving out relevant information during the mortgage lending process, recording documents that one knows contain deliberate misrepresentations or omissions, conspiring to do these things, and more. It would be an affirmative defense by a mortgage company prosecuted for a violation committed by an employee if the company demonstrates that it has and enforces a written policy that prohibits the banned conduct, has employee penalties and training related to this, and performs criminal background checks on employees.
Referred to the Committee on Banking and Financial Services
