Senate bill makes mortgage fraud easier to catch
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Senate bill makes mortgage fraud easier to catch

Date: March 12, 2008
By: Emily Rau
State Capitol Bureau
Links: SB 1059

Intro: Missouri's Senate gives first round approval to a measure to crack down on home mortgage fraud.
RunTime:0:33
OutCue: SOC

Republican Senator Kevin Engler is sponsoring a bill that will give prosecutors more tools to stop it.

Engler says the definition of mortgage fraud and its consequeneces need to be more clear.

 

Actuality:  ENGLE.WAV
Run Time: 00:12
Description: We have got everybody agreeing that we can do something about mortgage fraud in the state. We can give the Director of Finance and the other agencies the ability to get something done using the federal guidelines and we need to get something done.


The F-B-I reports that over the last four years mortgage fraud has increased 400-percent across the nation.  

Reporting from the Capitol, I'm Emily Rau.


Intro: Missouri's Senate gives first round approval to a measure to crack down on home mortgage fraud. RunTime:0:39
OutCue: SOC

Predatory lenders aren't the only type of mortgage fraud to look out for if you're a homeowner.   

A bill proposed in the Senate would target criminals who lie to get better home loans and never plan on paying them. 

Republican Senator Kevin Engler is sponsoring the bill and says this type of crime cannot be ignored.

Actuality:  ENGLER.WAV
Run Time: 00:13
Description: It is unbelievable the dynamics. FBI reports that mortgage fraud is up  400%% nationally over the last four years. That's more than double in our area. We do not have statutes that authorize our enforcements of provisions.

Engler said he hopes the bill will clearly define mortgage fraud and make it easier to stop.

Reporting from Jefferson City, I'm Emily Rau.