A FannieMae & FreddieMac Lottery? Don't Believe It!

July 24, 2008
(July 24, 2008) The BBB has received new proof that scammers listen to the news and often base their scam attempts on recent news developments.  One such scam involves a "confidential letter" received by a Louisville, KY woman earlier this week.  The letter appears to be on the letterhead of FannieMae and FreddieMac, two large government-sponsored mortgage buyers that have been much in the news of late. 

According to the letter, a Las Vegas lottery has been conducted by these "lending partners" to "enable home owners who owned a home all over the United States of America (to) have more money."  The letter suggests that the lottery money is made available from a pool of "Fifty Billion US Dollars ($50 Billion)" released to the financial institutions by the government, supposedly to help encourage more home buying in the United States.

The letter claims that the lottery consisted of a drawing of home addresses across the U.S. and that "your home number/address drew the jackpot amount of $5,000,000" and that "your house number/address has been approved for a lump sum payout of Five Million US dollars ($5M) in cash..."

The letter was accompanied by a form which the "winner" is asked to complete and fax to the "FannieMae FreddieMac Equity Draw."  The form requests "yes or no" answers to several questions, but appears to primarily seek verification that the person receiving the letter lives at the address supposedly drawn in the "Equity Draw" lottery.  The fax number provided, 1-208-493-7868, has an Idaho area code (which, with modern technology, doesn't mean that the fax machine is located in Idaho -- it could be anywhere in the world.)

Needless to say, this letter is another lottery scam.  The recipient of the letter has won nothing.  However, the recipient will be asked to send money, apparently an "administrative fee" of $850 to be sent to a Mr. Jorge Marcelo, who is said to be "the F&F Mae Mac Equity Draw Claim Agent."