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Committee hears bill to raise deed surcharge to fund mortgage‑fraud prosecutions
Summary
The Appropriations Committee heard testimony on Senate Bill 5,109 to raise the deed‑of‑trust recording surcharge from $1 to $5, remove its sunset, and direct the increased funds to the mortgage lending fraud prosecution account to expand local prosecutors’ capacity.
The Appropriations Committee received a staff briefing and public testimony on Senate Bill 5,109, which would increase the $1 surcharge collected on each recorded deed of trust to $5 and remove the bill’s current 06/30/2027 sunset. Jessica Van Horn, staff to the committee, said the Department of Financial Institutions uses revenue from the mortgage lending fraud prosecution account to contract with county prosecutors for investigation and prosecution of mortgage‑related fraud.
Patrick Hynes, chief deputy of the…
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