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Amendment CaShTmL-090406.HTM
    Florida Senate - 2007                      COMMITTEE AMENDMENT
    Bill No. SB 352
                        Barcode 090406
                            CHAMBER ACTION
              Senate                               House
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 1           Comm: RCS             .                    
       03/13/2007 12:15 PM         .                    
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11  The Committee on Banking and Insurance (Posey) recommended the
12  following amendment:
13  
14         Senate Amendment (with title amendment) 
15         Delete everything after the enacting clause
16  
17  and insert:  
18         Section 1.  Section 817.545, Florida Statutes, is
19  created to read:
20         817.545  Real property fraud.--
21         (1)  This section may be cited as the "Florida Real
22  Property Fraud Act."
23         (2)  The Legislature finds and declares that fraud
24  involving real property is at an all-time high in the United
25  States and in this state. Mortgage lending institutions and
26  borrowers have suffered hundreds of millions of dollars in
27  losses due to real property fraud. The Legislature therefore
28  concludes that for the protection of the public, and
29  particularly for the protection of borrowers, homeowners,
30  lending institutions, and the integrity of the mortgage
31  lending process, real property fraud should be made unlawful
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    6:49 PM   03/12/07                             s0352d-bi24-j02

Florida Senate - 2007 COMMITTEE AMENDMENT Bill No. SB 352 Barcode 090406 1 and subject to the provisions of chapter 895. 2 (3) A person commits the offense of real property 3 fraud if, with the intent to defraud, the person knowingly: 4 (a) Makes any material misstatement, 5 misrepresentation, or omission during the mortgage lending 6 process with the intention that the misstatement, 7 misrepresentation, or omission will be relied on by a mortgage 8 lender, borrower, or any other party to the real property 9 transaction process; however, a material omission does not 10 occur when such omission is made as part of a lending program 11 in which income, assets, or employment determination are not 12 factors for qualification for the loan program. 13 (b) Uses or facilitates the use of any material 14 misstatement, misrepresentation, or omission, knowing the 15 misstatement, misrepresentation, or omission contains a 16 misstatement, misrepresentation, or omission, during the 17 mortgage lending process with the intention that the material 18 misstatement, misrepresentation, or omission will be relied on 19 by a mortgage lender, borrower, or any other party to the real 20 property transaction process; however, a material omission 21 does not occur when such omission is made as part of a lending 22 program in which income, assets, or employment determination 23 are not factors for qualification for the loan program. 24 (c) Receives any proceeds or any other funds in 25 connection with a real property transaction that the person 26 knew resulted from a violation of paragraph (a) or paragraph 27 (b). 28 (e) Files or causes to be filed with the clerk of the 29 circuit court for any county of this state a document 30 materially relating to a real property transaction which 31 contains a material misstatement, misrepresentation, or 2 6:49 PM 03/12/07 s0352d-bi24-j02
Florida Senate - 2007 COMMITTEE AMENDMENT Bill No. SB 352 Barcode 090406 1 omission. 2 (4) An offense of real property fraud shall not be 3 predicated solely upon information lawfully disclosed under 4 federal disclosure laws, regulations, or interpretations 5 related to the mortgage lending process. 6 (5) For the purpose of venue under this section, any 7 violation of this section shall be considered to have been 8 committed: 9 (a) In the county in which the real property is 10 located; or 11 (b) In any county in which a material act was 12 performed in furtherance of the violation. 13 (6) Any person who violates subsection (3) commits a 14 felony of the third degree, punishable as provided in s. 15 775.082, s. 775.083, or s. 775.084. 16 Section 2. This act shall take effect October 1, 2007. 17 18 19 ================ T I T L E A M E N D M E N T =============== 20 And the title is amended as follows: 21 Delete everything before the enacting clause 22 23 and insert: 24 A bill to be entitled 25 An act relating to real property fraud; 26 creating s. 817.545, F.S.; providing a short 27 title; providing legislative findings and 28 declarations; specifying criteria for 29 committing the offense of real property fraud; 30 providing that such offense is a third-degree 31 felony; providing for venue with respect to the 3 6:49 PM 03/12/07 s0352d-bi24-j02
Florida Senate - 2007 COMMITTEE AMENDMENT Bill No. SB 352 Barcode 090406 1 committed offense; providing penalties; 2 providing an effective date. 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 4 6:49 PM 03/12/07 s0352d-bi24-j02
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