1 | A bill to be entitled |
2 | An act relating to mortgage fraud; creating s. 193.133, |
3 | F.S.; requiring law enforcement agencies to notify |
4 | property appraisers of incidents of mortgage fraud under |
5 | certain circumstances; authorizing property appraisers to |
6 | adjust property assessments under certain circumstances; |
7 | requiring property appraisers to reassess certain |
8 | properties under certain circumstances; amending s. |
9 | 817.545, F.S.; providing an increased penalty for certain |
10 | types of mortgage fraud; providing an effective date. |
11 |
|
12 | Be It Enacted by the Legislature of the State of Florida: |
13 |
|
14 | Section 1. Section 193.133, Florida Statutes, is created |
15 | to read: |
16 | 193.133 Effect of mortgage fraud on property |
17 | assessments.-- |
18 | (1) Upon the finding of probable cause of any person for |
19 | the crime of mortgage fraud, as defined in s. 817.545, or any |
20 | other fraud involving real property that may have artificially |
21 | inflated or could artificially inflate the value of property |
22 | affected by such fraud, the arresting agency shall promptly |
23 | notify the property appraiser of the county in which such |
24 | property or properties are located of the nature of the alleged |
25 | fraud and the property or properties affected. If notification |
26 | as required in this section would jeopardize or negatively |
27 | impact a continuing investigation, notification may be delayed |
28 | until such time as notice may be made without such effect. |
29 | (2) The property appraiser may adjust the assessment of |
30 | any affected real property. |
31 | (3) Upon a conviction of fraud as defined in subsection |
32 | (1), the property appraiser of the county in which such property |
33 | or properties are located shall, if necessary, reassess such |
34 | property or properties affected by such fraud. |
35 | Section 2. Subsection (5) of section 817.545, Florida |
36 | Statutes, is amended to read: |
37 | 817.545 Mortgage fraud.-- |
38 | (2) A person commits the offense of mortgage fraud if, |
39 | with the intent to defraud, the person knowingly: |
40 | (a) Makes any material misstatement, misrepresentation, or |
41 | omission during the mortgage lending process with the intention |
42 | that the misstatement, misrepresentation, or omission will be |
43 | relied on by a mortgage lender, borrower, or any other person or |
44 | entity involved in the mortgage lending process; however, |
45 | omissions on a loan application regarding employment, income, or |
46 | assets for a loan which does not require this information are |
47 | not considered a material omission for purposes of this |
48 | subsection. |
49 | (b) Uses or facilitates the use of any material |
50 | misstatement, misrepresentation, or omission during the mortgage |
51 | lending process with the intention that the material |
52 | misstatement, misrepresentation, or omission will be relied on |
53 | by a mortgage lender, borrower, or any other person or entity |
54 | involved in the mortgage lending process; however, omissions on |
55 | a loan application regarding employment, income, or assets for a |
56 | loan which does not require this information are not considered |
57 | a material omission for purposes of this subsection. |
58 | (c) Receives any proceeds or any other funds in connection |
59 | with the mortgage lending process that the person knew resulted |
60 | from a violation of paragraph (a) or paragraph (b). |
61 | (d) Files or causes to be filed with the clerk of the |
62 | circuit court for any county of this state a document involved |
63 | in the mortgage lending process which contains a material |
64 | misstatement, misrepresentation, or omission. |
65 | (5)(a) Any person who violates subsection (2) commits a |
66 | felony of the third degree, punishable as provided in s. |
67 | 775.082, s. 775.083, or s. 775.084. |
68 | (b) Any person who violates subsection (2), and the loan |
69 | value stated on documents used in the mortgage lending process |
70 | exceeds $100,000, commits a felony of the second degree, |
71 | punishable as provided in s. 775.082, s. 775.083, or s. 775.084. |
72 | Section 3. This act shall take effect July 1, 2008. |