MONTGOMERY, Ala. (AP) - The Alabama Senate is trying to create
the crime of mortgage fraud.
The Senate voted 27-0 Tuesday for a bill that would make it a felony to provide deliberate misstatements during the mortgage lending process with the intention that they will be relied on by another party. The crime would be punishable by one to 10 years in prison.
The bill by Democratic Sen. Bobby Denton of Muscle Shoals now goes to the House for consideration.
(Copyright 2009 by The Associated Press. All Rights Reserved.)