H.B. 25
         MORTGAGE FRAUD

house floor Amendments

Amendment 2 January 24, 2007 12:02 pm



Representative Paul Ray proposes the following amendments:

1.    Page 1, Line 21 :    

             21          
{   None   }        This bill appropriates as ongoing appropriations from the Residential Mortgage Loan Education, Research, and Recovery Fund created in Section 61-2c-501 for fiscal year 2007-08:

    .    $150,000 to the Office of the Attorney General to fund one attorney as provided in this bill ; and
    .    $286,300 to the Department of Public Safety to fund two investigators as provided in this bill.  


2.    Page 2, Lines 36 through 37 :    

             36          (1)
  (a)       The attorney general shall employ      {   :

             37          (a)  
}
an attorney licensed to practice law in Utah who:

3.    Page 2, Lines 40 through 42 :    

             40      estate fraud
{   ; and

             41          (b) at least two experienced investigators  
}
.
             42          
{   (2) (a) An   }        (b) The       attorney employed under Subsection (1)(a)      {   shall have   }        has       as that attorney's


4.    Page 2, Line 44 :    

  (2) The Department of Public Safety shall employ at least two investigators who have a background or expertise in investigating real estate fraud.      

             44          
{   (b)   }        (3)       Each person        employed       under      {   Subsection (1)(b)   }        (1) and (2)       shall have as that person's primary


5.    Page 2, Lines 46 through 47 :    

             46          
{   (3)   }        (4)       The attorney general may employ clerks, interns, or other personnel to assist the

             47
{  
     persons   }
  attorney       employed under Subsection (1).


6.    Page 2, Lines 55 through 56 :    

             55      insurance, or financing of any real estate,
  whether       directly or indirectly, to knowingly, intentionally, or


             56
     with a reckless disregard for the truth employ any device, scheme, or artifice to defraud
  another or to obtain from another money, property, or anything of value by means of false or fraudulent pretenses, representations, promises, or material omissions       .



7.    Page 8, Line 222 :    

             222      Title 18, Section 1961 (1)(B), (C), and (D) of the United States Code.
 

Section 6. Ongoing appropriation for real estate fraud investigations and prosecutions.
There is appropriated as ongoing appropriations from the Residential Mortgage Loan Education, Research, and Recovery Fund created in Section 61-2c-501 for fiscal year 2007-08:
    (1) $150,000 to the Office of the Attorney General to fund one attorney as provided in this bill ; and
    (2) $286,300 to the Department of Public Safety to fund two investigators as provided in this bill.  


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