3.0.0 2280 2023-01-13T04:49:04Z 2023-01-13T04:49:04Z Senate S S 2006-02-14 109 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2006-02-14T20:50:38Z 2006-02-14 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2006-02-14 Sponsor introductory remarks on measure. (CR S1177-1178) IntroReferral B00100 9 Library of Congress 2006-02-14 Introduced in Senate IntroReferral 10000 9 Library of Congress O000167 Sen. Obama, Barack [D-IL] Barack Obama D IL N D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. 2006-02-14 True M000639 Sen. Menendez, Robert [D-NJ] Robert Menendez D NJ 2006-02-14 True Housing and Community Development Administrative procedure Civil actions and liability Commerce Consumer credit Consumer education Counseling Crime and Law Enforcement Criminal investigation Criminal justice information Data banks Department of the Treasury Economics and Public Finance Federal aid to housing Federal aid to law enforcement Finance and Financial Sector Fines (Penalties) Fraud Government Operations and Politics Law Mortgage banks Mortgages Real estate appraisal Science, Technology, Communications Social Welfare Housing and Community Development 00 2006-02-14 Introduced in Senate 2006-03-29T18:40:00Z Stopping Transactions which Operate to Promote Fraud, Risk, and Underdevelopment Act or the STOP FRAUD Act - Amends federal criminal law to make it unlawful for any mortgage professional (as defined by this Act) to execute, or attempt to execute, a scheme or artifice to: (1) defraud any natural person or financial institution in connection with the offer of consumer credit secured by an interest in real property, or in personal property used or expected to be used as a principal dwelling; or (2) falsely obtain any money or property from a natural person in connection with an extension of consumer credit secured by an interest in real property, or in personal property used or expected to be used as the principal dwelling of such natural person.

Provides for: (1) fines and/or imprisonment for violations of such provisions; and (2) a private right of action.

Includes within the definition of "financial institution" for specified federal monetary transaction provisions the Federal National Mortgage Association (Fannie Mae), the Government National Mortgage Association (Ginnie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), mortgage appraisers, real estate accountants, real estate attorneys, real estate brokers, mortgage underwriters, mortgage processors, mortgage settlement and title companies, mortgage brokers, mortgage loan originators, and any other mortgage professional engaged in the mortgage industry.

Amends the Housing and Urban Development Act of 1968 to authorize the Secretary of Housing and Urban Development to provide tenants, homeowners, and other consumers with mortgage fraud counseling.

]]> STOP FRAUD Act Display Title STOP FRAUD Act Official Title as Introduced A bill to stop transactions which operate to promote fraud, risk, and under-development, and for other purposes. Introduced in Senate IS Short Titles as Introduced STOP FRAUD Act Short Titles as Introduced Stopping Transactions which Operate to Promote Fraud, Risk, and Underdevelopment Act Introduced in Senate 2006-02-14T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109s2280is/xml/BILLS-109s2280is.xml 2006-02-14 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.