Tag Archives: New York moves to criminalize foreclosure fraud

New York lawmakers introduced a bill that could mean jail time for mortgage servicer executives or their employees who commit foreclosure fraud. New York AG Eric Schneiderman drafted The Foreclosure Fraud Prevention Act of 2012, which was sponsored by state Assembly member Helene Weinstein, D-Brooklyn. Servicers could face up to a year in jail and a $1,000 fine in the event they “authorize, prepare, execute or offer for filing false documents in a pending or prospective residential foreclosure action.” Multiple acts of “robo-signing” would be a class E felony with […]