2010 Senate Bill 1518

Establish new mortgage fraud provisions and penalties

Introduced in the Senate

Sept. 28, 2010

Introduced by Sen. Tupac Hunter (D-5)

To create a new crime of residential mortgage fraud covering various actions intended to obtain or benefit from someone else obtaining a mortgage loan under false pretenses, subject to penalties of up to 20 years in prison and a $500,000 fine.

Referred to the Committee on Banking and Financial Institutions