Scandal at Fannie Mae: The Investigation Continues

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Go figure, an unscrupulous government agency.

 

 

 

In recent weeks, Fannie Mae executive James Tiegen was fired while the company is currently under investigation for soliciting illegal payments from real estate brokers. Tiegen, who headed the Irvine office of Fannie Mae, was reportedly laid off due to "performance issues", but his involvement in the investigation is still unknown.

As mentioned in the article "Did Your Pocket get Picket by a Fannie Mae Employee" posted earlier this month on RE-Insider, the instigation began only a couple months ago, when former Fannie Mae foreclosure specialist Armando Granillo was arrested in L.A. for enticing an illegal kickback from an Arizona real estate broker. In exchange for a foreclosure listing, Granillo expected to receive a kickback of $11,200, a practice that is highly illegal. Granillo is due to face trial this August.

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- Sunil Sethi

SUNIL SETHI REAL ESTATE

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