FL H0327

Moves language about mortgage loan application submission formats (written, electronic, or oral) from the definition section to the loan application process statute, and adds requirements for fingerprints and certifications from both loan originators and borrowers.

Requires mortgage lenders to audio record oral mortgage loan applications after informing borrowers, and mandates that applications from Spanish-speaking borrowers use specific federal forms (Fannie Mae Form 1003s or Freddie Mac Form 65s or successors).

Revises mortgage fraud offense classifications based on loan value: third-degree felony for loans under $20,000, second-degree felony for loans $20,000 to under $100,000, and first-degree felony for loans of $100,000 or more.

Establishes a 5-year statute of limitations for mortgage fraud prosecutions, extendable by up to 1 year after discovery by an aggrieved party, with a maximum extension of 3 years total; provides that the limitation period does not run while the defendant is continuously absent from the state or lacks a reasonably ascertainable address or workplace.

Effective October 1, 2012.