Section 570.310

Title XXXVIII CRIMES AND PUNISHMENT; PEACE OFFICERS AND PUBLIC DEFENDERS

Chapter 570

Effective - 28 Aug 2008, 2 histories, see footnote   (history) 

  *570.310.  Until December 31, 2016 — Prohibited acts — constitutes mortgage fraud — venue, where — acts not precluded by prosecution. — 1.  It is unlawful for a person, in connection with the application for or procurement of a loan secured by real estate to willfully:

  (1)  Employ a device, scheme, or artifice to defraud;

  (2)  Make an untrue statement of a material fact or to omit to state a material fact necessary in order to make the statement made, in the light of the circumstances under which it is made, not misleading;

  (3)  Receive any portion of the purchase, sale, or loan proceeds, or any other consideration paid or generated in connection with a real estate closing that such person knew involved a violation of this section; or

  (4)  Influence, through extortion or bribery, the development, reporting, result, or review of a real estate appraisal, except that this subsection does not prohibit a mortgage lender, mortgage broker, mortgage banker, real estate licensee, or other person from asking the appraiser to do one or more of the following:

  (a)  Consider additional property information;

  (b)  Provide further detail, substantiation, or explanation for the appraiser's value conclusion; or

  (c)  Correct errors in the appraisal report in compliance with the Uniform Standards of Professional Appraisal Practice.

  2.  Such acts shall be deemed to constitute mortgage fraud.

  3.  Mortgage fraud is a class C felony.

  4.  Each transaction in violation of this section shall constitute a separate offense.

  5.  Venue over any dispute relating to mortgage fraud or a conspiracy or endeavor to engage in or participate in a pattern of mortgage fraud shall be:

  (1)  In the county in which the real estate is located;

  (2)  In the county in which any act was performed in furtherance of mortgage fraud;

  (3)  In any county in which any person alleged to have violated this section had control or possession of any proceeds from mortgage fraud;

  (4)  In any county in which a related real estate closing occurred; or

  (5)  In any county in which any document related to a mortgage fraud is filed with the recorder of deeds.

  6.  Prosecution under the provisions of this section shall not preclude:

  (1)  The power of this state to punish a person for conduct that constitutes a crime under other laws of this state;

  (2)  A civil action by any person;

  (3)  Administrative or disciplinary action by the state or the United States or by any agency of the state or the United States;

  (4)  A civil forfeiture action; or

  (5)  An action under chapter 407.

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(L. 2008 H.B. 2188)

*This section was amended by S.B. 491, 2014, effective 1-01-17.  Due to the delayed effective date, both versions of this section are printed here.