Residential Mortgage Fraud In The Fifth Degree: NY Penal Law § 187.05

In the New York criminal code, residential mortgage fraud is defined as the knowing submission of a false written statement related to a residential mortgage loan with the intent to deceive. There are five degrees of offenses associated with residential mortgage fraud, ranging from first to fifth degree. The specific charge one faces depends on the amount of money obtained through the fraudulent activity.

Among these charges, residential mortgage fraud in the fifth degree is the least severe and is the sole misdemeanor offense. Under New York Penal Law § 187.05, a person may be charged with residential mortgage fraud in the fifth degree if they engage in residential mortgage fraud, and the fraudulent amount is $1,000 or less.

Under the residential mortgage fraud statute, “residential real property” pertains to real estate improved with a one to four-family dwelling. If you secure a mortgage for undeveloped land with the intention of constructing a residence, that property would not be considered residential real property.

Sentence

Residential mortgage fraud in the fifth degree is categorized as a class A misdemeanor. A conviction for this offense could result in a maximum jail term of one year. Additionally, you may be subject to a probationary period of up to three years and may be obligated to pay fines as well.

Defenses

A conviction for residential mortgage fraud in the fifth degree is not possible under specific circumstances. This includes situations where the false statement made was not connected to a material fact, where the false statement was not made knowingly, or where there was no intent to defraud. Additionally, according to New York Penal Law § 187.01, if you are applying for a residential mortgage loan or intend to reside in a secured residence, you are immune from prosecution for residential mortgage fraud.

New York Penal Law § 185.05: Residential Mortgage Fraud In The Fifth Degree

When someone commits home mortgage fraud, it is considered residential mortgage fraud in the fifth degree.

Related Offenses

• Residential mortgage fraud in the fourth degree: New York Penal Law § 187.10
• Residential mortgage fraud in the third degree: New York Penal Law § 187.15
• Residential mortgage fraud in the second degree: New York Penal Law § 187.20
• Residential mortgage fraud in the first degree: New York Penal Law § 187.25

Hiring A New York Lawyer For Residential Mortgage Fraud In The Fifth Degree Case

When facing a case of residential mortgage fraud in the fifth degree in New York, hiring a skilled attorney is paramount. These legal professionals possess the expertise and knowledge to navigate the complexities of the legal system. They can assess the specifics of your case to determine potential defenses, such as establishing that the false statement lacked a material connection, was not made knowingly, or lacked intent to defraud. Moreover, they can guide you through the intricacies of New York Penal Law to ensure that you are aware of your rights and protections, particularly if you are an applicant for a residential mortgage loan or intend to occupy a mortgaged residence. A dedicated lawyer will work tirelessly to secure the best possible outcome, whether it’s through negotiations, reduced charges, or a strong defense in court.