2011 Senate Bill 43 / Public Act 205

Create new residential mortgage fraud crime

Introduced in the Senate

Jan. 19, 2011

Introduced by Sen. Tupac Hunter (D-5)

To create a new crime of residential mortgage fraud covering various actions intended to obtain or benefit from someone else obtaining a mortgage loan under false pretenses, subject to penalties of up to 20 years in prison and a $500,000 fine.

Referred to the Committee on Banking and Financial Institutions

June 8, 2011

Substitute offered

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

The substitute passed by voice vote

June 14, 2011

Passed in the Senate 38 to 0 (details)

Received in the House

June 14, 2011

Referred to the Committee on Judiciary

In the Senate

Aug. 4, 2011

Reported without amendment

With the recommendation that the substitute (S-1) be adopted and that the bill then pass.

In the House

Sept. 8, 2011

Reported without amendment

With the recommendation that the bill be referred to the Committee on Banking and Financial Services.

Referred to the Committee on Banking and Financial Services

Sept. 28, 2011

Reported without amendment

With the recommendation that the substitute (H-1) be adopted and that the bill then pass.

Oct. 4, 2011

Substitute offered

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

The substitute passed by voice vote

Amendment offered by Rep. Marty Knollenberg (R-41)

To establish a new date on which the bill will go into effect if passed.

The amendment passed by voice vote

Oct. 5, 2011

Passed in the House 109 to 0 (details)

To create a new crime of residential mortgage fraud covering various actions intended to obtain or benefit from someone else obtaining a mortgage loan under false pretenses, subject to penalties of up to 20 years in prison and a $500,000 fine.

Received in the Senate

Oct. 6, 2011

Oct. 12, 2011

Passed in the Senate 37 to 0 (details)

To concur with the House-passed version of the bill.

Signed by Gov. Rick Snyder

Oct. 20, 2011