AUSTIN, TX – February 24, 2011 – (RealEstateRama) — Representative Stefani Carter (Dallas) has filed legislation that will expand the venues in which incidents of mortgage fraud may be prosecuted.
Carter worked with the Attorney General’s office to craft House Bill 1343, which will enable cases of mortgage fraud to be prosecuted in multiple venues in an effort to alleviate the burden that high case loads are placing on our courts.
According to the U.S. Department of the Treasury, incidents of mortgage fraud have been on the rise for several years now. As a result of this increase, our courts are now inundated with cases.
“Dallas County in particular has one of the highest rates of mortgage fraud in Texas; yet there is only one prosecutor who is equipped to deal with cases of this nature,” said Carter. “The ability to prosecute these incidents in an alternative location would certainly help to reduce case loads and ensure that they are addressed in a timely manner.”
Currently, there is a statute of limitations on the prosecution of mortgage fraud in Texas. The intent of HB 1343 is to provide prosecutors with additional options to try a case within statutory time constraints. The bill specifically allows for cases to be prosecuted in the county where the property is located or any county in which part of the mortgage transaction occurred.
“Mortgage fraud is a serious issue that places the dream of home ownership for honest, hard-working Texans at risk,” said Carter. “It is imperative that we bring those who commit mortgage fraud to justice, and HB 1343 serves as a mechanism toward that end.”
Contact:
Taurie Randermann, Chief of Staff
Room E2.702, Capitol Extension
P.O. Box 2910
Austin, TX 78768
(512) 463-0454
(512) 463-1121 Fax
