Act would criminalize mortgage fraud

Rep. Paul Ray, R-Clearfield, wants to crack down on mortgage fraud by classifying it as a crime under the Pattern of Unlawful Activity Act and to create positions for two investigators and a fraud prosecutor.

Ray cited a study that ranked Utah as second in the nation for the amount of mortgage-fraud incidents.

The Law Enforcement and Criminal Justice Interim Committee on Wednesday voted to carry legislation that seeks about $275,000 of the estimated $1 million in annual licensing fees already being collected from loan officers. The money would be used to fund the three new positions that would be under the direction the attorney general's office.