State Rep. Matt Lori last week voted in favor of a package of bills creating the first statutes specifically dealing with mortgage fraud in Michigan.
House Bills 4462, 4478 and 4492 and Senate Bills 43, 249-252 modernize Michigan law to recognize current trends in real estate fraud.
The package, approved by the House with bipartisan support, is part of an extensive effort to halt the misuse of taxpayer dollars.
“It’s time we made sure that prosecutors have the modern tools to prosecute the crimes that mortgage scammers commit,” said Lori, R-Constantine. “Mortgage fraud is a serious and, sadly, frequent crime in Michigan. I’m pleased we were able to pass this legislation to protect vulnerable residents by preventing mortgage fraud.”
Current Michigan statutes are not directly related to address mortgage fraud, making it difficult for prosecutors to punish criminals who are abusing the system. This legislation provides new ways to prevent these complex crimes.