II 

110TH CONGRESS 

2D SESSION S. 3547 

A bill to establish in the Federal Bureau of Investigation the Nationwide 

Mortgage Fraud Coordinator to address mortgage fraud in the United 

States, and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

SEPTEMBER 23 (legislative day, SEPTEMBER 17), 2008 

Mr. NELSON of Florida (for himself and Mr. MARTINEZ) introduced the following bill; which was read twice and referred to the Committee on the 

Judiciary 

A BILL 

A bill to establish in the Federal Bureau of Investigation 

the Nationwide Mortgage Fraud Coordinator to address 

mortgage fraud in the United States, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Nationwide Mortgage 

5 Fraud Coordinator Act of 2008’’. 


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1 SEC. 2. ESTABLISHMENT IN THE FEDERAL BUREAU OF IN2 VESTIGATION OF THE NATIONWIDE MORT3 GAGE FRAUD COORDINATOR. 

4 (a) ESTABLISHMENT.—The Director of the Federal 

5 Bureau of Investigation shall assign the Chief of its Fi6 nancial Crimes Section, Criminal Investigative Division, in 

7 addition to other assigned duties, to be the Nationwide 

8 Mortgage Fraud Coordinator. 

9 (b) DUTIES OF THE COORDINATOR.—The Nation10 wide Mortgage Fraud Coordinator shall oversee all Fed11 eral Bureau of Investigation activities related to the inves12 tigation of mortgage fraud, including the following: 

13 (1) Establishing and operating regional task 

14 forces, consisting of the voluntary participation of 

15 Federal, State, and local law enforcement and pros16 ecutorial agencies, to organize initiatives to inves17 tigate mortgage fraud, including initiatives to en18 force all pertinent Federal and State mortgage fraud 

19 laws. 

20 (2) Providing training to Federal, State, and 

21 local law enforcement and prosecutorial agencies 

22 with respect to mortgage fraud, including related 

23 Federal and State laws. 

24 (3) Collecting and disseminating data with re25 spect to mortgage fraud, including, to the extent 


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1 practicable, Federal, State, and local data relating to 

2 mortgage fraud investigations and prosecutions. 

3 (4) Preparing an annual report describing the 

4 Federal Bureau of Investigation’s efforts to combat 

5 mortgage fraud and the results of these efforts. This 

6 report shall be submitted by the Federal Bureau of 

7 Investigation to Congress. The initial report shall be 

8 submitted no later one year after the date of the en9 actment of this Act. 

10 (5) Making recommendations to the Director as 

11 to the need for resources to combat mortgage fraud. 

12 (6) Performing other duties as assigned that 

13 are related to the investigation and prosecution of 

14 mortgage fraud. 

15 (c) OPTIONAL FUNCTIONS.—The Nationwide Mort16 gage Fraud Coordinator shall have the following optional 

17 responsibilities: 

18 (1) Establishing a toll free hotline and other in19 formation systems for— 

20 (A) receiving reports of mortgage fraud; 

21 (B) providing the public with access to in22 formation and resources with respect to mort23 gage fraud; and 

24 (C) directing reports or allegations of 

25 mortgage fraud to the appropriate Federal, 


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1 State, or local law enforcement and prosecu2 torial agency, including any appropriate re3 gional task force. 

4 (2) Creating a database with respect to suspen5 sions and revocations of mortgage industry licenses 

6 and certifications to facilitate the sharing of such in7 formation by States. 

8 (d) OPTIONAL RESPONSIBILITY OF THE DEPART9 MENT OF JUSTICE.—The Department of Justice, upon 

10 consideration of any recommendations by the Nationwide 

11 Mortgage Fraud Coordinator, may— 

12 (1) propose legislation to Federal, State, and 

13 local legislative bodies to assist in the detection, in14 vestigation, and prosecution of mortgage fraud, in15 cluding measures to address mortgage loan proce16 dures and property appraiser practices that provide 

17 opportunities for mortgage fraud; and 

18 (2) make recommendations to Congress as to 

19 the need for additional resources to combat mort20 gage fraud. 

21 (e) SUNSET.—This section shall sunset September 

22 30, 2015. 

Æ 


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