Kickbacks as 'a natural part of business' at Fannie Mae alleged

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Kickbacks as ‘a natural part of business’ at Fannie Mae alleged

Kickbacks as ‘a natural part of business’ at Fannie Mae alleged

Wish someone would come forward as to what all went on with the Foreclosure Mills. Some more than others.


LA TIMES-

Before dawn one hazy March day in L.A., Armando Granillo pulled his SUV into a Starbucks near MacArthur Park, where he planned to pick up an envelope full of cash from an Arizona real estate broker, federal investigators say.

Granillo, a foreclosure specialist at mortgage giant Fannie Mae, expected to drive off with $11,200 — an illegal kickback for steering foreclosure listings to brokers, authorities allege in court records.

Granillo would leave in handcuffs. And investigators are now looking into assertions by Granillo and another former Fannie Mae foreclosure specialist that such kickbacks were “a natural part of business” at the government-sponsored housing finance company, as Granillo allegedly told the broker in a wiretapped conversation.

[LA TIMES]

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