18 U.S.C. § 1011 — Federal land bank mortgage transactions

submitted 78 years ago by ch. 645 to r/title-18-CRIMES-AND-CRIMINAL-PROCEDURE · 54 words · no verdicts yet

in plain englishAI-generated · not legal advice

A mortgagee who knowingly lies about a mortgage, or an appraiser who deliberately overvalues its land security, may be fined or imprisoned.

A mortgagee who knowingly makes a false statement in a paper, proposal, or letter about selling a mortgage to a Federal land bank, or an appraiser who willfully overvalues land securing the mortgage, may be fined under this title, imprisoned for up to one year, or both.

the actual law source: uscode.house.gov ↗public domain

Whoever, being a mortgagee, knowingly makes any false statement in any paper, proposal, or letter, relating to the sale of any mortgage, to any Federal land bank; or

Whoever, being an appraiser, willfully over-values any land securing such mortgage—

Shall be fined under this title or imprisoned not more than one year, or both.

Source credit: (June 25, 1948, ch. 645, 62 Stat. 751; Pub. L. 103–322, title XXXIII, § 330016(1)(K), Sept. 13, 1994, 108 Stat. 2147.)

history & why it existsrecord from the source credit

1948Enacted · Act of June 25, 1948, ch. 645 · 62 Stat. 751
1994Amended · Pub. L. 103-322 · 108 Stat. 2147

A history note hasn’t been published yet. The record shows enactment by ch. 645 on 1948-06-25.

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