Effective - 01 Jan 2017, 2 histories
570.310. Mortgage fraud — penalty — venue. — 1. A person commits the offense of mortgage fraud if he or she, in connection with the application for or procurement of a loan secured by real estate, willfully:
(1) Employs a device, scheme, or artifice to defraud;
(2) Makes an untrue statement of a material fact or omits to state a material fact necessary in order to make the statement made, in the light of the circumstances under which it is made, not misleading;
(3) Receives any portion of the purchase, sale, or loan proceeds, or any other consideration paid or generated in connection with a real estate closing that such person knew involved a violation of this section; or
(4) Influences, through extortion or bribery, the development, reporting, result, or review of a real estate appraisal, except that this subsection does not prohibit a mortgage lender, mortgage broker, mortgage banker, real estate licensee, or other person from asking the appraiser to do one or more of the following:
(a) Consider additional property information;
(b) Provide further detail, substantiation, or explanation for the appraiser's value conclusion; or
(c) Correct errors in the appraisal report in compliance with the Uniform Standards of Professional Appraisal Practice.
2. The offense of mortgage fraud is a class D felony.
3. Each transaction in violation of this section shall constitute a separate offense.
4. Venue over any dispute relating to mortgage fraud or a conspiracy or endeavor to engage in or participate in a pattern of mortgage fraud shall be:
(1) In the county in which the real estate is located;
(2) In the county in which any act was performed in furtherance of mortgage fraud;
(3) In any county in which any person alleged to have violated this section had control or possession of any proceeds from mortgage fraud;
(4) In any county in which a related real estate closing occurred; or
(5) In any county in which any document related to a mortgage fraud is filed with the recorder of deeds.
5. The punishment imposed under this section shall be in addition to any punishment provided by law for the offense.
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(L. 2008 H.B. 2188, A.L. 2014 S.B. 491)
Effective 1-01-17