Florida, Texas, North Carolina Lawmakers Considering Mortgage Fraud Legislation
The Texas legislature also is considering a bill, HB 716 introduced by Rep. Burt Solomons, which would impose specific criminal penalties on individuals convicted of perpetrating mortgage fraud, according to an article in the East Texas Review. To read more, see Solomons targets mortgage fraud schemes.
The North Carolina legislature has two bills pending, N.C. House Bill 817 and N.C. House Bill 313, which propose measures to make it easier to prosecute real estate professionals for mortgage fraud, make mortgage fraud a felony, and require inclusion on the recorded mortgage document the name of the mortgage broker or loan originator. See Proposed Legislation (Efforts to curb foreclosures) (Charlotte Observer)
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