Mortgage Fraud to be a Felony in Utah?
November 17th, 2006 by 
Erik
Inman News published a report that we may be seeing some new legislation that would mortgage fraud a second degree felony here in Utah. We’re currently the second worst state in the nation for mortgage fraud (source), per capita.
As it stands now, the bill would view mortgage fraud much like racketeering, which would allow the state to seize illegally gotten assets in order to provide restitution to victims.
This would be a welcome change, in my opinion. I’m not big on bigger goverment, but this is clearly a case where the goverment should be involved because it involves the enforcement of property rights.
Rep. Paul Ray from Clearfield is helping push this through - thanks Paul!
Posted in mortgages in utah, mortgage fraud, mortgage news, commentary |
