Nofs bill to combat mortgage fraud signed

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LANSING –- Legislation sponsored by Sen. Mike Nofs was signed by the governor on Thursday as part of a package to help combat mortgage fraud and punish offenders.

“Today Michigan has taken important steps to combat the crime of mortgage fraud, which drives down property values and robs the American dream of homeownership from many innocent families every year,” said Nofs, R-Battle Creek. “These new laws are an example of everyone coming together in a bipartisan manner to do the right thing for all Michigan residents. The new statutes will protect consumers and empower law enforcement officials to investigate, prosecute and punish mortgage fraud offenders.”

Nofs’ measure, Public Act 203, extends the statute of limitations for bringing an indictment for mortgage fraud from 6 to 10 years.

“Mortgage fraud can often take a long time to come to light,” said Nofs, vice chair of the Senate Banking and Financial Institutions Committee. “By giving law enforcement more time to investigate, my measure will help ensure that criminals do not escape justice because it is too late to prosecute them by the time their victim discovers and reports the crime.”

Public Acts 201-208 classify mortgage fraud as a felony punishable by up to 20 years in prison and a $500,000 fine and include reforms to increase the penalties for fraudulent activities such as counterfeiting or forging real estate deeds and violating the notary public law.

Editor’s Note: A print-quality photograph of Nofs at the governor’s bill signing is available by clicking on the image or by visiting the senator’s photowire at:

www.senate.michigan.gov/senators/photowire.asp?District=19

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