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21h ago

Loan and Security Forms Show Cook’s Atlanta Condo Was a Second Home, Weakening Fraud Allegation

Cook remains on the board under a court injunction pending an appeal before next week’s Fed meeting.

FILE - Federal Reserve Board of Governors member Lisa Cook listens during an open meeting of the Board of Governors at the Federal Reserve, June 25, 2025, in Washington. (AP Photo/Mark Schiefelbein, File)
Federal Reserve Governor Lisa Cook attends the Federal Reserve Bank of Kansas City's 2025 Jackson Hole economic symposium, "Labor Markets in Transition: Demographics, Productivity, and Macroeconomic Policy" in Jackson Hole, Wyoming, U.S., August 23, 2025. REUTERS/Jim Urquhart/File Photo
Lisa Cook, governor of the US Federal Reserve, during the Federal Reserve Board open meeting in Washington, DC, US, on Wednesday, June 25, 2025. The Federal Reserve unveiled plans to roll back an important capital rule that big banks have said limits their ability to hold more Treasuries and act as intermediaries in the $29 trillion market. Photographer: Al Drago/Bloomberg via Getty Images
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Overview

  • A May 28, 2021 loan estimate from Bank-Fund Staff Federal Credit Union lists the Atlanta property’s “Property Use” as “Vacation Home,” according to documents first reported by Reuters and reviewed by NBC News and the Associated Press.
  • Cook’s December 2021 national security questionnaire identifies the Atlanta condo as a “2nd home,” aligning with the loan paperwork and contradicting claims she declared two primary residences.
  • Fulton County, Georgia records show Cook has not claimed a homestead exemption on the condo since purchasing it in 2021, a tax benefit reserved for a primary residence.
  • President Trump moved to remove Cook “for cause” based on mortgage allegations referred by FHFA Director Bill Pulte; Cook sued and secured an injunction keeping her on the Fed as the administration seeks an emergency ruling before the policy meeting.
  • The Justice Department opened a criminal review after Pulte’s referral, and separate Reuters reporting highlighted that Pulte’s father and stepmother lost a Michigan homestead exemption for double primary-residence claims.