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House approves reforms to real estate enforcement to target mortgage fraud

Utah House of Representatives · February 26, 2007

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Summary

A first substitute to Senate Bill 199 strengthens enforcement against mortgage fraud by allowing the real-estate division to impose fines tied to perpetrators’ gains and to pursue unlicensed actors; the bill also authorizes a restrictive account to support affordable housing efforts. The House passed the measure unanimously in recorded votes as shown in the transcript.

Representative Ford introduced first substitute Senate Bill 199, describing it primarily as cleanup for industries that touch real-estate transactions (appraisal, mortgage, title) and highlighting a 10% section aimed at mortgage-fraud enforcement. The measure would…

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