The bill would amend the Business and Commerce Code by making residential mortgage fraud punishable as a felony of the second degree.  A second or subsequent offense would be punishable as a felony of the first degree.  Each residential property transaction that results in residential mortgage fraud would constitute a separate offense. 

A second degree felony is punishable by imprisonment in the institutional division for any term of not more than 20 years or less than 2 years, or, in addition to confinement, a fine not to exceed $10,000.

A first degree felony is punishable by imprisonment in the institutional division for life or for any term of not more than 99 years or less than 5 years, or in addition to imprisonment, a fine not to exceed $10,000.

The impact of the bill on correctional populations would depend on how many persons would be prosecuted under the provision of the bill, and the extent to which punishment would be enhanced under the proposed statute compared to existing statute.  For this analysis it is assumed that the number of offenders convicted under this statute would not result in a significant impact on the programs and workload of state corrections agencies or on the demand for resources and services of those agencies.