Former Fannie Mae employee found guilty of making millions on shady foreclosure sales

Ordered to forfeit a property she bought with a duffle bag full of cash

February 15, 2019 | HousingWire A former Fannie Mae employee is now facing 40 years in prison after being found guilty of accepting millions of dollars in bribes and kickbacks in exchange for selling Fannie Mae-owned foreclosures for less than market value.

Back in January 2018, Shirene Hernandez was charged with accepting bribes for steering foreclosures to certain brokers and even allegedly buying some foreclosures herself at below market value.

And this week, Hernandez was found guilty of two wire fraud counts that involved the deprivation of honest services.

Hernandez formerly worked at Fannie Mae in California as an REO foreclosure specialist and was tasked with the sale of properties foreclosed on by Fannie Mae. Read more here.