2007 Senate Bill 432

Prohibit appraisers inflating appraisal for pay

Introduced in the Senate

April 24, 2007

Introduced by Sen. Randy Richardville (R-17)

To establish sentencing guidelines for the crime proposed by Senate Bills 342 and 356 of a mortgage broker coercing or inducing a real estate appraiser to inflate an appraisal developed in connection with a particular loan.

Referred to the Committee on Banking and Financial Institutions

April 26, 2007

Reported without amendment

With the recommendation that the bill pass.

May 2, 2007

Passed in the Senate 38 to 0 (details)

To establish sentencing guidelines for the crime proposed by Senate Bills 343 and 356 of a mortgage broker coercing or inducing a real estate appraiser to inflate an appraisal developed in connection with a particular loan.

Received in the House

May 2, 2007

Referred to the Committee on Banking and Financial Services