[ by Melanie Gretchen ] Abacus Federal Savings Bank has been charged with a 184-count indictment on allegations that it sold fraudulent mortgage loans to the the Federal National Mortgage Association, commonly known as Fannie Mae, Manhattan District Attorney Cyrus Vance said on Thursday.  Between 2005 and 2010, bank employees falsified loan applications for the sale of hundreds of millions of fraudulent loans to Fannie Mae, while other loans were securitized into mortgage-backed securities and sold to investors, Mr. Vance said. Findings and Allegations. Nineteen employees of the bank also were charged in the case, the District Attorney's office said in a statement, 8 of whom have plead guilty.  Charges include grand larceny, conspiracy, residential mortgage fraud, and falsifying business records.  The defective loans falsely represented details regarding credit-worthiness, employment status and income, and the source of down payments, Mr. Vance said, speaking a press conference in lower Manhattan: "The irony of this case is the majority of the loans originated by Abacus have continued to perform, which means the monthly mortgage payments are being made by the borrowers." Steve Linick, inspector general of the Federal Housing Finance Agency, which oversees Fannie Mae, denied the allegations, which he called "egregious," at the press conference.  "Poor quality loans are at greater risk of default." For further details, go to [Reuters, 5/31/12].