Attorney General Suthers Comments On New Laws To Combat Mortgage And Foreclosure Fraud

DENVER – Colorado Attorney General John W. Suthers today issued the following statement regarding Governor Bill Ritter’s approval of five bills dealing with foreclosures:

“It’s only common sense that individuals involved in real estate transactions should have a duty to accurately represent the interests of home buyers,” commented Attorney General Suthers. “My office worked closely with legislators from both sides of the aisle to craft five bills aimed at turning the tide against foreclosures. Collectively, these bills represent a significant step toward protecting the integrity of the American Dream for Coloradans.”

Among the bills singed by the Governor was Senate Bill 85, an integral part of Attorney General Suthers’ 2007 legislative agenda. The bill, sponsored by Sen. Jennifer Veiga (D-Denver) and Rep. Tom Massey (R-Poncha Springs), prohibits mortgage brokers and others from improperly influencing a real estate appraisal, also criminalizing the act of knowingly submitting a false appraisal.

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