Former Fannie Mae Employee Found Guilty In REO Foreclosure Scam

Former Fannie Mae Employee Found Guilty Of Making Millions On Shady REO Foreclosure Sales

former fannie mae employee
Former Fannie Mae employee Shirene Hernandez is facing 40 years in prison. She was found guilty of accepting millions of dollars in bribes and kickbacks in exchange for selling Fannie Mae REO properties.
Federal prosecutors charged Shirene Hernandez in January 2018 with accepting bribes for steering foreclosures to certain brokers. She also allegedly bought some foreclosures herself at below market value.
Hernandez was found guilty of two counts of wire fraud counts.
The former Fannie Mae employee worked as an REO foreclosure specialist in California. Her job was to find buyers for Fannie Mae REO properties foreclosed on by Fannie Mae.
Hernandez would assign Fannie Mae-owned properties to real estate brokers and approve sales of the properties based on offers the brokers submitted from 2010 through 2015.

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