Residential Mortgage Fraud In The Second Degree: New York Penal Law 187.20
New York Penal Law 187.20, Residential Mortgage Fraud in the Second Degree, is the second highest or most serious felony crime in the arena of Residential Mortgage Fraud as well as all other white collar theft crimes in New York. As a “C” felony, NY PL 187.20 is punishable by up to five to fifteen years in prison even if you have absolutely no criminal record or history at all. While any person accused of Residential Mortgage Fraud in the Second Degree would be foolish not to consult with an experienced New York criminal lawyer to analyze the evidence and allegations, the potential for significant punishment is exacerbated if you have a previous felony conviction in the preceding ten years. In cases such as these, a defendant accused of Residential Mortgage Fraud in the Second Degree would face a mandatory minimum sentence of three and one half to seven years in prison with a maximum possible sentence of seven and one half to fifteen years in custody.
To better understand the crime of Residential Mortgage Fraud in the Second Degree, it is critical to read the definitions listed in the general Residential Mortgage Fraud section as well as the specific crime of Residential Mortgage Fraud in the Fifth Degree (New York Penal Law 187.05). It is the latter that is the basic crime that each degree follows. Although not a complete legal definition, this crime is committed if you intentionally defraud another by obtaining, for example, a real property residential loan by providing fake material information when drafting and filing loan or underwriting paperwork. This degree differs from all others in that the value of the monies obtained must be greater than $50,000, but equal to or lesser than $1,000,000. Keep in mind that once you have charged with Residential Mortgage Fraud and thefts in this range, you have also exposed yourself to such crimes as:
- New York Penal Law Article 155: Grand Larceny
- New York Penal Law Article 165: Criminal Possession of Stolen Property
- New York Penal Law Article 175: Falsifying Business Records
- New York Penal Law Article 170: Forgery
- New York Penal Law Article 460: Enterprise Corruption
Whether or not Mortgage Fraud in the Second Degree is one of the more common offenses charged under Article 187 of the New York Penal Law is unclear. However, because of the prices associated with real residential property in New York City as well as the suburban counties such as Westchester, NY PL 187.20 hits the “sweet spot” for investigations, arrests and indictments for this crime. Moreover, due to the nature of the crime and some of the intertwined offenses including Grand Larceny, prosecutors and judges can be extremely harsh in their dealings with this offense. Make no mistake. Should you be charged with any crime of Residential Mortgage Fraud, it is imperative to not only examine the allegations against you, but to determine what your best defense may be. Upon doing so, move forward as quickly as possible to protect your freedom as well as your future.
Beyond the general information section for New York Residential Mortgage Fraud, the New York criminal lawyers and former Manhattan prosecutors at Crotty Saland PC have created additional resources for this and other white collar crimes. The CrottySaland.Com website as well as the NewYorkTheftAndLarcenyLawyersBlog.Com and the NewYorkCriminalLawyerBlog.Com have a breakdown of white collar and other criminal statutes, analysis of interesting cases in the media spotlight and legal decisions rendered by courts in New York City and beyond.
- Theft Convictions: Collateral Consequences
- Theft Crimes Sentencing Guidelines
- Defenses to Theft & Larceny