Department of Housing and Urban Development and Federal Housing Administration transactions
Official text prohibited actmental stateif conditionpenaltylegal term
Whoever, for the purpose of obtaining any loan or advance of credit from any person, partnership, association, or corporation with the intent that such loan or advance of credit shall be offered to or accepted by the Department of Housing and Urban Development for insurance, or for the purpose of obtaining any extension or renewal of any loan, advance of credit, or mortgage insured by such Department, or the acceptance, release, or substitution of any security on such a loan, advance of credit, or for the purpose of influencing in any way the action of such Department, makes, passes, utters, or publishes any statement, knowing the same to be false, or alters, forges, or counterfeits any instrument, paper, or document, or utters, publishes, or passes as true any instrument, paper, or document, knowing it to have been altered, forged, or counterfeited, or overvalues any security, asset, or income, shall be or imprisoned not more than two years, or both.
History: (June 25, 1948, ch. 645, 62 Stat. 751 (PDF, 39 MB); Pub. L. 90–19, §24(c), May 25, 1967, 81 Stat. 28 (PDF, 2.3 MB); Pub. L. 103–322, title XXXIII, §330016(1)(K), Sept. 13, 1994, 108 Stat. 2147 (PDF, 52 MB).)
Simplified explanation
It is a federal crime to make false statements, use forged documents, or willfully overvalue property or income to get a loan or credit meant to be insured by the Department of Housing and Urban Development (HUD), or to influence HUD in any way.