By Bob Walsh
A criminal referral has just been made against Adam
Schiff, currently a U. S. Senator from the state of California. Fannie
Mae is alleging a "sustained pattern" of possible mortgage fraud. A
total of five loans are involved.
It
seems that Schiff has been "creative" in defining what his principle
place of residence is in order to get more favorable interest rates.
None of the loans on the properties in question are currently
outstanding.
At one time
Schiff listed a 691 sq ft, 1 bedroom Condo in Burbank as his family of
four's principle place of residence, possibly in order to obtain a more
favorable interest rate. It seems unlikely that all four of them
actually lived there.
Fannie Mae requested documents on the loans on May 12.
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