Navigating the New Terrain of Mortgage Originations

    Explore the evolving landscape of mortgage origination, influenced by shifting interest rates, housing market dynamics, and regulatory changes. Discover strategies for lenders to adapt and thrive in this dynamic environment.

Estimated reading time: 0 minutes, 36 seconds

Ex-Fannie Mae Rep Can’t Dodge Six-Year Fraud Sentence: Court

The Ninth U.S. Circuit Court of Appeals has affirmed a former Fannie Mae sales representative’s sentence of six years and four months in prison for her role in a multimillion-dollar real estate kickback scheme. So reports the Los Angeles Metropolitan News-Enterprise.

Fannie Mae2Shirene Hernandez, who worked for Fannie Mae from 2010 to 2015, had challenged her wire fraud conviction, claiming that she was wrongly sentenced as a “public official” because the mortgage finance giant is a private company.

The opinion by a three-judge panel states that “Hernandez was ‘in a position of public trust’ in her capacity at Fannie Mae. and she had ‘official responsibility for carrying out a government program or policy.’”

Read the full article from the Los Angeles Metropolitan News-Enterprise.

Read 2542 times
Rate this item
(0 votes)

FOLLOW US