Posted by Maranga Ink Resources on 12/28/09 9:01pm
Msg #315922

Fine for Fraud and Misleading information

All you are well known familiar with this form.
Says a fine up to 10,000 dolras or imprionsemtn from 2 to 99 years.
Recentley I did close a loan with a new form. The new form says a fine of ONE MILLION dolars and jaiedl flat of 30 years.

Reply by Teresa/FL on 12/28/09 9:08pm
Msg #315923

What form are you talking about?

Is this a lender form or TC form?

Reply by daletx on 12/29/09 11:12am
Msg #315972

The fine $10,000 and/or imprisonment 2 to 99 is a Texas specific notice, under Texas Penal Code.
The million and/or 30 years is federal (probably has a FBI logo at the top).
Just the lender and/or title covering their backsides in case someone claims they didn't know it was against the law to lie and cheat.
Good luck with the coming year