Federal Housing Finance Agency (FHFA) Director Bill Pulte has submitted criminal referrals to the US Department of Justice, after busting Fed Governor Lisa Cook, Senator Adam Schiff and New York’s Attorney General Letitia James for mortgage fraud.
FLASH UPDATE: FHFA Director Pulte has submitted another criminal referral alleging Lisa Cook committed mortage fraud in relation to a third property!
In the initial referral Pulte accused Democrat appointee Cook of improperly claiming residence status while obtaining mortgages for two homes in Ann Arbor, Michigan, and Atlanta, Georgia.
"In Ms. Cook's case, it appears from what we can tell, to be blatant mortgage fraud. She claimed to be living in the state of Michigan, she took out a loan. And then she went and took out another loan in Atlanta and said that both of them were her primary residence. That's a big no-no," Pulte said, according to reporting by FOX News.
You can read all the sordid details of Cook’s corruption in our article “Trump Fires Corrupt Federal Reserve Governor Lisa Cook” by clicking the link.
In Democrat Senator Adam Schiff’s case, Pulte sent a criminal referral to the Department of Justice (DOJ) alleging that Schiff, in multiple instances, falsified bank documents and property records to acquire more favorable loan terms.
In a 2011 affidavit signed by the then California congressman, FOX reported Schiff certified that a property in Montgomery County, Maryland, is his primary residence. Schiff also owns a condominium in Burbank, California, which he has also claimed as his primary residence as recently as 2023, during his campaign for Senate.
"Based on media reports, Mr. Adam B. Schiff has, in multiple instances, falsified bank documents and property records to acquire more favorable loan terms, impacting payments from 2003-2019 for a Potomac, Maryland-based property," Pulte wrote in the letter. "As regulator of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, we take very seriously allegations of mortgage fraud or other criminal activity. Such misconduct jeopardizes the safety and soundness of FHFA’s regulated entities and the security and stability of the U.S. mortgage market."
FOX reported Pulte received a memo from the Fannie Mae financial crimes investigations concluding that Schiff allegedly engaged in "a sustained pattern of possible occupancy misrepresentation" on five Fannie Mae loans, Fox News has learned.
Democrat Schiff and his wife purchased a home in Potomac, Maryland, in 2003 for $870,000, according to the letter. They entered into a Fannie Mae-backed mortgage agreement for $610,000 at a rate of 5.625% over a term of 30 years, asserting the property would be their primary and principal residence.
Over the same time frame, Schiff took a homeowner’s tax exemption on a condo that he owns in Burbank, California, also claiming that home as his primary residence for a $7,000 reduction off of the 1% property tax, Pulte wrote, citing media reports.
The federal housing official wrote that he believes Schiff's alleged misconduct could be violations of federal criminal codes banning wire fraud, mail fraud, bank fraud and false statements to financial institutions.
The Justice Department is also investigating New York’s Democrat Attorney General Leticia James for mortgage fraud.
According to reporting by CBS News, Pulte wrote a letter to U.S. Attorney General Pam Bondi alleging that James "has, in multiple instances, falsified bank documents and property records to acquire government backed assistance and loans and more favorable loan terms."
Pulte alleges Democrat James may have falsified her residence status at a home in Norfolk, Virginia, to get a better mortgage rate.
According to Pulte, in 2023 James granted Shamice Thompson-Hairston power of attorney to make the Norfolk property, purchased in August of that year, her "principal residence," despite James actually living and serving as attorney general in New York at the time.
"At the time of the 2023 Norfolk, VA property purchase and mortgage, Ms. James was the sitting Attorney General of New York and is required by law to have her primary residence in the state of New York — even though her mortgage applications list her intent to have the Norfolk, VA property as her primary home," Pulte wrote.
Pulte also alleges James bought a five-family property in Brooklyn in 2001 with a loan that is only available for homes with four units or less.
"Spanning the last two decades, Ms. James has consistently misrepresented the same property as only having four units in both building permit applications and numerous mortgage documents and applications," Pulte wrote. "It appears that Ms. James may have listed the Brooklyn, NY property as four units instead of five units in order to meet the conforming loan requirements, and thus receive better interest rates."
It's also alleged James and her father signed mortgage documents in 1983 stating they were husband and wife.
"Ms. James, for both properties listed above, appears to have falsified records in order to meet certain lending requirements and receive favorable loan terms," Pulte concluded, adding that it could lead to charges such as wire fraud, mail fraud and bank fraud, along with making false statement to a financial institution.
The similarity of the alleged fraudulent conduct begs the question, “What made these Democrats think they could get away with it?” We think the answer is simple: They’re Democrats and thought they are above the law.
- Donald Trump
- Federal Housing Finance Agency (FHFA) Director Bill Pulte
- Senator Adam Schiff
- Federal Reserve Lisa Cook
- Letitia James New York
- Falsified Bank Documents
- Potomac Maryland property
- Department of Justice
- Mortgage Fraud
- Fannie Mae mortgage loans
- Condo in Burbank California
- Attorney General Pam Bondi
- Norfolk property
- Lending requirements
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