This past week, the FBI raided the offices of Elias Realty. Elias Realty has become ubiquitous with short sales in Metro Detroit. Media reports state that Elias is being investigated in their role in advising clients with their hardship letter to Fannie Mae and Freddie Mac. The conflict with Fannie Mae started last year, as Elias Realty was "Black Listed" from any short sales dealing with Fannie & Freddie. The conflict has reportedly reached another crisis, as the FBI is now searching for evidence of wrong doing in the files of Elias Realty.
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