OAR 813-080-0060
Penalties for Misstatement
(1)
If any person makes a material misstatement in any affidavit or certification made in connection with the application for, or the issuance of, a Mortgage Credit Certificate and such misstatement is due to negligence of that person, that person shall be subject to a fine of $1,000, imposed by the Internal Revenue Service for each Mortgage Credit Certificate for which a misstatement was made.(2)
If any person makes a material misstatement in any affidavit or certification made in connection with application for, or issuance of, a Mortgage Credit Certificate and such misstatement is due to fraud, then that person shall be subject to a penalty imposed by the Internal Revenue Service of $10,000 for each Mortgage Credit Certificate with respect to which the fraudulent misstatement was made.(3)
A lender shall inform any applicant required to sign a Program Affidavit or certification that any fraudulent statement may result in the revocation of the individual’s Mortgage Credit Certificate and a $10,000 penalty imposed by the Internal Revenue Service. Other persons required by a lender to provide affidavits or certifications must receive a similar notice.(4)
The above-described penalties shall be imposed in addition to any other criminal penalty provided by the law.
Source:
Rule 813-080-0060 — Penalties for Misstatement, https://secure.sos.state.or.us/oard/view.action?ruleNumber=813-080-0060.