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Fannie Mae REO specialist allegedly asked for kickbacks

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A former Fannie Mae sales associate who allegedly promised to provide listings to a real estate broker from the mortgage giant's REO inventory in exchange for kickbacks has been indicted on three counts of wire fraud.Armando Granillo, 44, worked out of Fannie Mae's Irvine, Calif. office as a real-estate owned (REO) specialist, reviewing applications submitted by real estate brokers seeking to list properties foreclosed on and repossessed by Fannie Mae.Late last year, federal prosecutors said Granillo asked a Tucson-based real estate broker to pay him a percentage of the commissions -- later pegged at 20 percent -- that the broker earned for selling Fannie Mae properties.The broker alerted federal law enforcement officials, and during a meeting in February, Granillo travelled to Phoenix to meet with the broker, prosecutors said.At the meeting, which was recorded by investigators, Granillo allegedly said kickbacks were "a natural part of business," and arranged to receive an $1...