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Mortgage Fraud

NY Penal Law § 187.00(4): "Residential mortgage fraud" is committed by a person who, knowingly and with intent to defraud, presents, causes to be presented, or prepares with knowledge or belief that it will be used in soliciting an applicant for, applying for, underwriting or closing a residential mortgage loan, or filing with a county clerk of any county in the state arising out of and related to the closing of a residential mortgage loan, any written statement which:
(a) contains materially false information concerning any fact material thereto; or
(b) conceals, for the purpose of misleading, information concerning any fact material thereto.

§ 187.25 Residential mortgage fraud in the first degree

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.

§ 187.20 Residential mortgage fraud in the second degree

A person is guilty of residential mortgage fraud in the second degree when he or she commits residential mortgage fraud and thereby receives proceeds or any other funds in the aggregate in excess of fifty thousand dollars.  Residential mortgage fraud in the second degree is a class C felony.

§ 187.15 Residential mortgage fraud in the third degree

A person is guilty of residential mortgage fraud in the third degree when he or she commits residential mortgage fraud and thereby receives proceeds or any other funds in the aggregate in excess of three thousand dollars.  Residential mortgage fraud in the third degree is a class D felony.

§ 187.10 Residential mortgage fraud in the fourth degree

A person is guilty of residential mortgage fraud in the fourth degree when he or she commits residential mortgage fraud and thereby receives proceeds or any other funds in the aggregate in excess of one thousand dollars.  Residential mortgage fraud in the fourth degree is a class E felony.

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