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ARTICLE 187
RESIDENTIAL MORTGAGE FRAUD
Section 187.00 Definitions.
187.05 Residential mortgage fraud in the fifth degree. Effective 11/1/08
187.10 Residential mortgage fraud in the fourth degree. Effective 11/1/08
187.15 Residential mortgage fraud in the third degree. Effective 11/1/08
187.20 Residential mortgage fraud in the second degree. Effective 11/1/08
187.25 Residential mortgage fraud in the first degree. Effective 11/1/08
S 187.00 Residential mortgage fraud; definition of terms.
As used in this article:
1. "Person" means any individual or entity, other than an individual
who applies for a residential mortgage loan and intends to occupy such
residential property which such mortgage secures unless such person acts
as an accessory to an individual or entity in committing any crime
defined in this article.
2. "Residential mortgage loan" means a loan or agreement to extend
credit, including the renewal or refinancing of any such loan, made to a
person, which loan is primarily secured by either mortgage, deed of
trust, or other lien upon any interest in residential real property or
certificate of stock or other evidence of ownership in 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 any 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 a residential mortgage loan, or in applying for, the
underwriting of, or closing of a residential mortgage loan, or in
documents filed 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 he or she knows to:
(a) contain materially false information concerning any fact material
thereto; or
(b) conceal, for the purpose of misleading, information concerning any
fact material thereto.
* NB Effective November 1, 2008
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.
* NB Effective November 1, 2008
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.
* NB Effective November 1, 2008
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.
* NB Effective November 1, 2008
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.
* NB Effective November 1, 2008
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.
* NB Effective November 1, 2008.
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