2006 House Bill 6432

Establish specific mortgage fraud crime

Introduced in the House

Sept. 7, 2006

Introduced by Rep. Fran Amos (R-43)

To add to the state fraud statute explicit descriptions of specific actions related to mortgages, such as lying or leaving out relevant information during the mortgage lending process, recording documents that one knows contain deliberate misrepresentations or omissions, conspiring to do these things, and more.

Referred to the Committee on Banking and Financial Services

Sept. 14, 2006

Reported without amendment

With the recommendation that the substitute (H-2) be adopted and that the bill then pass.

Sept. 19, 2006

Substitute offered

To replace the previous version of the bill with one that revises various details, but does not change its substance. This version was subsequently superceded by another substitute with more changes.

The substitute failed by voice vote

Substitute offered by Rep. Fran Amos (R-43)

To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.

The substitute passed by voice vote

Amendment offered by Rep. Fran Amos (R-43)

To establish that the bill does not create any additional disclosure requirements for real estate professionals.

The amendment passed by voice vote

Amendment offered by Rep. Tupac Hunter (D-9)

To tie-bar the bill to a package of Democratic bills that would impose new regulations, restrictions, and price controls on mortgage lenders, and impose additional regulations and restrictions on loans defined as “high-cost home loans".

The amendment failed 53 to 53 (details)

Passed in the House 105 to 1 (details)

Received in the Senate

Sept. 20, 2006

Referred to the Committee on Banking and Financial Institutions