Bill > SB5109

This bill increases the county auditor's surcharge on recording deeds of trust from $1 to $5, with the additional funds dedicated to supporting mortgage lending fraud prosecution. When a deed of trust is recorded, the county auditor will now collect a $5 fee, retaining up to 5% for administrative costs and transmitting the remaining funds to the state treasurer. These funds will be deposited into the mortgage lending fraud prosecution account, which is managed by the department of financial institutions. The department will work with the attorney general and local prosecutors to develop rules for using these funds to pursue criminal prosecution of fraudulent activities within the mortgage lending process. The bill also removes the previous expiration date of June 30, 2027, effectively making this funding mechanism permanent. The primary goal is to provide more resources for investigating and prosecuting mortgage-related financial crimes by increasing the dedicated funding source.