Home > Uncategorized > Proposed Michigan Legislation Would Crackdown on Mortgage Fraud with House Bill 5969

Proposed Michigan Legislation Would Crackdown on Mortgage Fraud with House Bill 5969

HB 5969 was introduced on October 17, 2012 by Rep. Brown and referred to the Committee on Judiciary.

It would create criminal and civil penalties for anyone who knows or has reason to know that a forged mortgage document is recorded on Property.  See details about the Proposed HB 5969 here: http://www.legislature.mi.gov/(S(aso5z0rpfjra1155ck222yuh))/mileg.aspx?page=GetObject&objectname=2012-HB-5969

The penalized actions all relate to falsely representating the title of the Property, include “robosigning” or “causing a document to be robosigned”, “notarizing” or “causing a document to be executed”.  The intent of this legislation seems to be to cast a broad net of prohibited conduct, and would include criminal penalties of felony conviction and civil penalties for damages incurred, including attorney fees.  Interestingly, the Bill would specifically target “robosigning” by making such perpetrator liable for 3 times the damages suffered by the owner of the Property.

 

 

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