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A BILL TO BE ENTITLED
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AN ACT
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relating to a mortgage fraud task force to study mortgage fraud in |
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this state. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. The mortgage fraud task force is created to study |
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occurrences in this state of fraudulent purchases of property, |
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including fraudulent purchases made by use of false appraisals, |
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documents, or identities. |
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SECTION 2. (a) The mortgage fraud task force is composed of |
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the following: |
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(1) the savings and mortgage lending commissioner; |
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(2) the administrator of the Texas Real Estate |
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Commission; |
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(3) the commissioner of insurance; |
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(4) the presiding officer of the Texas Appraiser |
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Licensing and Certification Board; |
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(5) a representative of the consumer protection |
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division of the office of the attorney general; and |
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(6) a member of the board of directors of the Texas |
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District and County Attorneys Association. |
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(b) The governor shall designate the presiding officer of |
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the task force from among its members. |
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SECTION 3. The comptroller, Legislative Budget Board, Texas |
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Real Estate Commission, Finance Commission of Texas, and |
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commissioner of insurance shall cooperate with the task force in |
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conducting the study. |
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SECTION 4. The task force shall submit to the legislature a |
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report of the results of its study not later than December 31, 2008. |
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SECTION 5. This Act takes effect September 1, 2007, and |
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expires January 15, 2009. |