California Real Estate Fraud Report

You have just entered the #1 private-sector resource on the Internet for real estate fraud. In doing so, you have voluntarily left the dimension of the conventional real estate world and crossed over to the Dark Side, the realm where greed, dishonesty and evil are the order of the day. Sign up for a free subscription to this comprehensive news resource and receive weekly, timely news reports about real estate fraud, mortgage fraud, short sale fraud, REO fraud, title fraud, loan fraud, appraisal fraud, affinity fraud, loan modification scams, securities fraud and elder financial fraud. *** AS OF NOVEMBER 2017, THE CALIFORNIA REAL ESTATE FRAUD REPORT IS 10 YEARS OLD! ***

01
Feb

Former Fannie Mae Employee Charged in Real Estate Fraud of REO Properties

Shirene Hernandez, 45, was one an REO (real estate owned) foreclosure specialist at Fannie Mae (Federal National Mortgage Association). Fannie Mae is a government-sponsored enterprise (GSE), and its task is insuring mortgage loans.

Hernandez has been charged with wire fraud, allegedly for making directing some of the REO properties she oversaw to real estate brokers for cash kickback, gifts and other valuable things in exchange for giving them listings of the REOs. The common term for this is called REO fraud. The government alleges she earned over $1 million from these alleged illegal activities.

No word if any of the real estate brokers and agents who were Hernandez’ partners have been charged or are going to be.

The case is being investigated by the Federal Housing Finance Agency, Office of Inspector General (FHFA-OIG).  Agents continue to investigate this case and other allegations of bribes accepted by other Fannie Mae employees.  If you believe you have information relevant to this investigation, please contact FHFA-OIG Senior Special Agent James Shields at 202-730-4013.

The prosecution of Shirene Hernandez is being handled by Assistant United States Attorney Kerry L. Quinn of the Major Frauds Section.

Click on this press release to read the entire statement by the U.S. Attorney’s Office for the Central District of California.

 

© Copyright 2007-2018 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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