79R9729 DWS-D

By:  Harper-Brown                                                 H.B. No. 3035



A BILL TO BE ENTITLED

AN ACT

relating to a mortgage fraud task force to study mortgage fraud in 
this state.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  The mortgage fraud task force is created to study 
occurrences in this state of fraudulent purchases of property, 
including fraudulent purchases made by use of false appraisals, 
documents, or identities.
	SECTION 2.  (a)  The mortgage fraud task force is composed of 
the following: 
		(1)  two members of the Finance Commission of Texas;                          
		(2)  two members of the Texas Real Estate Commission;                         
		(3)  two persons appointed by the commissioner of 
insurance;                
		(4)  two real estate appraisers appointed by the 
comptroller; and           
		(5)  two persons appointed by the governor.                                   
	(b)  The governor shall designate the presiding officer of 
the task force from among its members.
	SECTION 3.  The comptroller, Legislative Budget Board, Texas 
Real Estate Commission, Finance Commission of Texas, and 
commissioner of insurance shall cooperate with the task force in 
conducting the study.
	SECTION 4.  The task force shall submit to the legislature a 
report of the results of its study not later than December 31, 2006.
	SECTION 5.  This Act takes effect September 1, 2005, and 
expires January 15, 2007.