Former Fannie Mae employee accused of taking bribes, selling foreclosures below market value

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Former Fannie Mae employee accused of taking bribes, selling foreclosures below market value

Former Fannie Mae employee accused of taking bribes, selling foreclosures below market value

Housingwire-

A former Fannie Mae employee allegedly made more than $1 million by accepting bribes and approving the sales of foreclosed properties at below market value to herself and to brokers in exchange for kickbacks.

According to the U.S. Attorney’s Office for the Central District of California, Shirene Hernandez formerly worked at Fannie Mae in Irvine. At Fannie Mae, Hernandez worked as a REO foreclosure specialist and was tasked with the disposition of properties foreclosed on by Fannie Mae.

Court documents show that Hernandez’s duties at Fannie Mae included assigning Fannie-Mae owned properties to listing brokers and approving sales of those properties based on offers submitted by those brokers.

[HOUSINGWIRE]

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