August 25, 2019
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Senate Bill 0352

Senate Bill sb0352c1

CODING: Words stricken are deletions; words underlined are additions.
    Florida Senate - 2007                    CS for SB's 352 & 240

    By the Committee on Banking and Insurance; and Senators
    Margolis and Bullard




    597-2042-07

  1                      A bill to be entitled

  2         An act relating to real property fraud;

  3         creating s. 817.545, F.S.; providing a short

  4         title; providing legislative findings and

  5         declarations; specifying criteria for

  6         committing the offense of real property fraud;

  7         providing that such offense is a third-degree

  8         felony; providing for venue with respect to the

  9         committed offense; providing penalties;

10         providing an effective date.

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12  Be It Enacted by the Legislature of the State of Florida:

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14         Section 1.  Section 817.545, Florida Statutes, is

15  created to read:

16         817.545  Real property fraud.--

17         (1)  This section may be cited as the "Florida Real

18  Property Fraud Act."

19         (2)  The Legislature finds and declares that fraud

20  involving real property is at an all-time high in the United

21  States and in this state. Mortgage lending institutions and

22  borrowers have suffered hundreds of millions of dollars in

23  losses due to real property fraud. The Legislature therefore

24  concludes that for the protection of the public, and

25  particularly for the protection of borrowers, homeowners,

26  lending institutions, and the integrity of the mortgage

27  lending process, real property fraud should be made unlawful

28  and subject to the provisions of chapter 895.

29         (3)  A person commits the offense of real property

30  fraud if, with the intent to defraud, the person knowingly:

31  

                                  1

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    Florida Senate - 2007                    CS for SB's 352 & 240
    597-2042-07




 1         (a)  Makes any material misstatement,

 2  misrepresentation, or omission during the mortgage lending

 3  process with the intention that the misstatement,

 4  misrepresentation, or omission will be relied on by a mortgage

 5  lender, borrower, or any other party to the real property

 6  transaction process; however, a material omission does not

 7  occur when such omission is made as part of a lending program

 8  in which income, assets, or employment determination are not

 9  factors for qualification for the loan program.

10         (b)  Uses or facilitates the use of any material

11  misstatement, misrepresentation, or omission, knowing the

12  misstatement, misrepresentation, or omission contains a

13  misstatement, misrepresentation, or omission, during the

14  mortgage lending process with the intention that the material

15  misstatement, misrepresentation, or omission will be relied on

16  by a mortgage lender, borrower, or any other party to the real

17  property transaction process; however, a material omission

18  does not occur when such omission is made as part of a lending

19  program in which income, assets, or employment determination

20  are not factors for qualification for the loan program.

21         (c)  Receives any proceeds or any other funds in

22  connection with a real property transaction that the person

23  knew resulted from a violation of paragraph (a) or paragraph

24  (b).

25         (d)  Files or causes to be filed with the clerk of the

26  circuit court for any county of this state a document

27  materially relating to a real property transaction which

28  contains a material misstatement, misrepresentation, or

29  omission.

30         (4)  An offense of real property fraud shall not be

31  predicated solely upon information lawfully disclosed under

                                  2

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    Florida Senate - 2007                    CS for SB's 352 & 240
    597-2042-07




 1  federal disclosure laws, regulations, or interpretations

 2  related to the mortgage lending process.

 3         (5)  For the purpose of venue under this section, any

 4  violation of this section shall be considered to have been

 5  committed:

 6         (a)  In the county in which the real property is

 7  located; or

 8         (b)  In any county in which a material act was

 9  performed in furtherance of the violation.

10         (6)  Any person who violates subsection (3) commits a

11  felony of the third degree, punishable as provided in s.

12  775.082, s. 775.083, or s. 775.084.

13         Section 2.  This act shall take effect October 1, 2007.

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    Florida Senate - 2007                    CS for SB's 352 & 240
    597-2042-07




 1          STATEMENT OF SUBSTANTIAL CHANGES CONTAINED IN
                       COMMITTEE SUBSTITUTE FOR
 2               Senate Bill 352 and Senate Bill 240

 3                                 

 4  The committee substitute provides the following changes to the
    bill:
 5  
    1.   Broadens the types of fraudulent real estate transactions
 6       that would be addressed by the bill by establishing
         criminal penalties for offenses that constitute "real
 7       property fraud" rather than "residential mortgage fraud."

 8  2.   Provides that certain offenses constitute real property
         fraud, a felony of the third degree, and provides
 9       exceptions for material omissions relating to loans that
         do not require credit underwriting.
10  
    3.   Provides than an offense of real property fraud cannot be
11       predicted solely on information lawfully disclosed under
         laws and regulations related to the mortgage lending
12       process.

13  4.   Narrows venue by providing that any real property fraud
         violation is considered to have been committed in the
14       county in which the real estate property is located or in
         any county in which a material act was performed in
15       furtherance of the violation.

16  5.   Deletes the provision of the bill related to civil
         forfeitures.
17  
    6.   Deletes the provision of the bill that provided a second
18       degree felony penalty for a person who engages in a
         pattern of mortgage fraud of a conspiracy to engage in a
19       pattern of mortgage fraud.

20  7.   Provides technical and clarifying changes.

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