July 12, 2010 11:21 PM UTC

CHFA Fraud at least $250,000

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• by: Libertad

Coming on the heels of the 2007 Colorado Department of Revenue fraud that cost tax payers over $10 million we have CHFA, the rogue staffer Melissa DeHerrera and at least $250,000 in AWOL public funds.

Now this maynot sound like a lot, but it is enough to fund 5 standard families. With 6-8% of homeowners indicating they might miss an upcoming mortage payment due to the economy, this is a big deal.

Documents dish out details on CHFA probe

July 12, 2010

By Jared Jacang Maher, Face The State

Brad Jones / Face The StateNew details have emerged about the woman at the center of a criminal investigation by the Denver District Attorney’s office into possible financial fraud at the Colorado Housing Finance Authority.

Melissa DeHerrera, a former Customer Relationship Liaison at the quasi-governmental housing agency, was “terminated involuntarily” on May 26, according to documents released by CHFA.

http://facethestate.com/articl…

Call this Colorado’s Fannie Mae. CHFA was created by the Legislature in 1973 to provide qualified mortgage holder financing and acquisition funding for low income apartment housing.

Only later did CHFA up the ante to establish small businesses financing and compete directly with banks.

CHFA, an Fannie Mae GSI of sorts issues bonds and takes that money to generate loans. They have $3 billion in total loans out to different groups, of that $300 million is

for businesses.