Both Texas and the federal government have broad statutes criminalizing false statements to obtain credit. The subject matter of the loan is largely irrelevant, although false statements in connection with a mortgage are the most serious because the average home price virtually guarantees that the punishment will be a first degree felony. The Texas statute is as follows:
For purposes of defining "credit," the Texas statute specifically enumerates:
In credit fraud cases involving mortgage fraud, the Texas Statute specifically anticipates this and demands interagency cooperation. Pursuant to Section 32.32(d) and (e), the following agencies shall assist a prosecuting attorney of the United States or of a county or judicial district of this state, a county or state law enforcement agency of this state, or a federal law enforcement agency in the investigation of an offense under this section involving a mortgage loan:
Further, the statute provides that the attorney general has concurrent jurisdiction for mortgage loan fraud with consent of the local prosecutor.