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Article 187 - NY Penal Law

RESIDENTIAL MORTGAGE FRAUD

Section Offense Class
187.00 Definitions.  
187.01 Limitation on prosecution.  
187.05 Residential mortgage fraud in the fifth degree. A MISD
187.10 Residential mortgage fraud in the fourth degree. E FELONY
187.15 Residential mortgage fraud in the third degree. D FELONY
187.20 Residential mortgage fraud in the second degree. C FELONY
187.25 Residential mortgage fraud in the first degree. B FELONY
S 187.00 Definitions.
  As used in this article:
  1. "Person" means any individual or entity.
  2.  "Residential  mortgage  loan" means a loan or agreement to extend
credit, including the renewal, refinancing or modification of  any  such
loan,  made  to  a  person,  which loan is primarily secured by either a
mortgage, deed of trust, or other lien upon any interest in  residential
real property or any certificate of stock or other evidence of ownership
in,  and  a  proprietary lease from, a corporation or partnership formed
for the purpose of cooperative ownership of residential real property.
  3. "Residential real property" means real property improved by a
one-to-four  family  dwelling,  or  a  residential  unit  in  a building
including units owned as condominiums or on a cooperative basis, used or
occupied, or intended to be used or occupied, wholly or partly,  as  the
home  or  residence  of  one  or  more  persons,  but shall not refer to
unimproved  real  property  upon  which  such  dwellings   are   to   be
constructed.
  4. "Residential mortgage fraud" is committed by a person who,
knowingly and with intent to defraud, presents, causes to be  presented,
or  prepares with knowledge or belief that it will be used in soliciting
an applicant for, applying for, underwriting or  closing  a  residential
mortgage  loan, or filing with a county clerk of any county in the state
arising out of and related to the  closing  of  a  residential  mortgage
loan, any written statement which:
  (a) contains materially false information concerning any fact material
thereto; or
  (b)  conceals,  for  the purpose of misleading, information concerning
any fact material thereto.

S 187.01 Limitation on prosecution.
  No individual who applies for a residential mortgage loan and intends
to occupy such residential property which such mortgage secures shall be
held liable under this article provided, however,  any  such  individual
who  acts  as  an accessory to an individual or entity in committing any
crime defined in this article may be charged as  an  accessory  to  such
crime.

S 187.05 Residential mortgage fraud in the fifth degree.
  A  person  is guilty of residential mortgage fraud in the fifth degree
when he or she commits residential mortgage fraud.
   Residential mortgage fraud in the fifth degree is a class A misdemeanor.

S 187.10  Residential mortgage fraud in the fourth degree.
  A  person is guilty of residential mortgage fraud in the fourth degree
when he or she commits residential mortgage fraud and  thereby  receives
proceeds  or  any other funds in the aggregate in excess of one thousand
dollars.
   Residential mortgage fraud in the fourth degree is a class E felony.

S 187.15  Residential mortgage fraud in the third degree.
 A  person  is guilty of residential mortgage fraud in the third degree
when he or she commits residential mortgage fraud and  thereby  receives
proceeds or any other funds in the aggregate in excess of three thousand
dollars.
   Residential mortgage fraud in the third degree is a class D felony.

S 187.20  Residential mortgage fraud in the second degree.
   A  person is guilty of residential mortgage fraud in the second degree
when he or she commits residential mortgage fraud and  thereby  receives
proceeds or any other funds in the aggregate in excess of fifty thousand
dollars.
   Residential mortgage fraud in the second degree is a class C felony.

S 187.25  Residential mortgage fraud in the first degree.
  A  person  is guilty of residential mortgage fraud in the first degree
when he or she commits residential mortgage fraud and  thereby  receives
proceeds  or  any  other funds in the aggregate in excess of one million
dollars.
   Residential mortgage fraud in the first degree is a class B felony.

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