The former servicing manager of U.S. Mortgage Corp. and its CU National Mortgage has pleaded guilty to conspiring to defraud credit unions and Fannie Mae in a $140 million scandal.

Leroy Hayden, 47, was convicted Thursday in the U.S. District Court in Newark, N.J., of conspiracy to assist Michael McGrath, the former president of U.S. Mortgage and CU National, in his scheme to fraudulently sell Fannie mortgages that the Pine Brook, N.J., company was servicing on behalf of credit unions.

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