Springfield News-Leader (MO) (05/02/08); Blank, Chris
A legislative proposal creating the specific crime of mortgage fraud in Missouri, already approved by state senators, has now won the backing of House lawmakers as well. The bill--which defines mortgage fraud as making untrue statements or neglecting to disclose material facts--now moves to the governor's desk. Among other provisions, the measure sets fines and allows for license revocation of realty brokers, agents and appraisers; classifies mortgage fraud as a felony punishable by a maximum seven-year prison sentence; and prohibits attempts to sway property appraisers through extortion or bribery.
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