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Bill would raise mortgage-fraud surcharge to bolster prosecutions, prosecutors say
Summary
Senate Bill 5109 would increase the deed-related surcharge funding the Mortgage Lending Fraud Prosecution Account from $1 to $5 and remove its sunset; King County prosecutors told the committee the increase is needed to restore investigative capacity.
The committee heard testimony on Senate Bill 5109, which would raise the surcharge assessed at recording of each deed of trust from $1 to $5 and remove the account’s sunset provision. The surcharge funds the mortgage lending fraud prosecution account (MLFPA), which supports investigations and prosecutions of mortgage-related crimes.
Senator Claudia Kauffman, prime sponsor, said the surcharge had not changed since the account’s creation and that the proposed increase would go “directly to the prosecutors in the mortgage fraud prosecution unit” to help identify and…
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