§ 14-118.12. Residential mortgage fraud. - North Carolina Statutes

§ 14‑118.12. Residential mortgage fraud.

(a)        A person is guiltyof residential mortgage fraud when, for financial gain and with the intent todefraud, that person does any of the following:

(1)        Knowingly makes orattempts to make any material misstatement, misrepresentation, or omissionwithin the mortgage lending process with the intention that a mortgage lender,mortgage broker, borrower, or any other person or entity that is involved inthe mortgage lending process relies on it.

(2)        Knowingly uses or facilitatesor attempts to use or facilitate the use of any misstatement,misrepresentation, or omission within the mortgage lending process with theintention that a mortgage lender, borrower, or any other person or entity thatis involved in the mortgage lending process relies on it.

(3)        Receives or attemptsto receive proceeds or any other funds in connection with a residentialmortgage closing that the person knew, or should have known, resulted from aviolation of subdivision (1) or (2) of this subsection.

(4)        Conspires orsolicits another to violate any of the provisions of subdivision (1), (2), or(3) of this subsection.

(b)        It shall besufficient in any prosecution under this Article for residential mortgage fraudto show that the party accused did the act with the intent to deceive ordefraud. It shall be unnecessary to show that any particular person or entitywas harmed financially in the transaction or that the person or entity to whomthe deliberate misstatement, misrepresentation, or omission was made reliedupon the misstatement, misrepresentation, or omission. (2007‑163, s. 1.)