Washington State Department of Financial Institutions leaders on Tuesday applauded the Legislature’s five-year extension of a state Mortgage Fraud Prosecution Fund.
The account, created in 2003, pays to prosecute consumer fraud by mortgage lenders and is funded through a $1 charge when mortgages are recorded with county records offices. Dollars raised then go to prosecutors in Washington’s counties to use as they investigate and prosecute mortgage fraud. The program had been set to expire on June 30, but now will continue through 2016.
