N.Y. Penal Law 187.25 – Residential mortgage fraud in the first degree
Current as of: 2024 | Check for updates
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§ 187.25 Residential mortgage fraud in the first degree.
Attorney's Note
Under the New York Laws, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class B felony | between 1 and 25 years | up to $30,000 |
Terms Used In N.Y. Penal Law 187.25
- Fraud: Intentional deception resulting in injury to another.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Person: means any individual or entity. See N.Y. Penal Law 187.00
A person is guilty of residential mortgage fraud in the first degree when he or she commits residential mortgage fraud and thereby receives proceeds or any other funds in the aggregate in excess of one million dollars.
Residential mortgage fraud in the first degree is a class B felony.