Missouri Laws 570.310 – Mortgage fraud — penalty — venue
1. A person commits the offense of mortgage fraud if he or she, in connection with the application for or procurement of a loan secured by real estate, willfully:
(1) Employs a device, scheme, or artifice to defraud;
Attorney's Note
Under the Missouri Laws, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class D felony | up to 7 years | up to $10,000 |
Terms Used In Missouri Laws 570.310
- Appraisal: A determination of property value.
- following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
- Fraud: Intentional deception resulting in injury to another.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
- Property: anything of value, whether real or personal, tangible or intangible, in possession or in action, and shall include but not be limited to the evidence of a debt actually executed but not delivered or issued as a valid instrument. See Missouri Laws 570.010
- State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
- Venue: The geographical location in which a case is tried.
(2) Makes an untrue statement of a material fact or omits to state a material fact necessary in order to make the statement made, in the light of the circumstances under which it is made, not misleading;
(3) Receives any portion of the purchase, sale, or loan proceeds, or any other consideration paid or generated in connection with a real estate closing that such person knew involved a violation of this section; or
(4) Influences, through extortion or bribery, the development, reporting, result, or review of a real estate appraisal, except that this subsection does not prohibit a mortgage lender, mortgage broker, mortgage banker, real estate licensee, or other person from asking the appraiser to do one or more of the following:
(a) Consider additional property information;
(b) Provide further detail, substantiation, or explanation for the appraiser’s value conclusion; or
(c) Correct errors in the appraisal report in compliance with the Uniform Standards of Professional Appraisal Practice.
2. The offense of mortgage fraud is a class D felony.
3. Each transaction in violation of this section shall constitute a separate offense.
4. Venue over any dispute relating to mortgage fraud or a conspiracy or endeavor to engage in or participate in a pattern of mortgage fraud shall be:
(1) In the county in which the real estate is located;
(2) In the county in which any act was performed in furtherance of mortgage fraud;
(3) In any county in which any person alleged to have violated this section had control or possession of any proceeds from mortgage fraud;
(4) In any county in which a related real estate closing occurred; or
(5) In any county in which any document related to a mortgage fraud is filed with the recorder of deeds.
5. The punishment imposed under this section shall be in addition to any punishment provided by law for the offense.