Overview

• The investigation was triggered by a May referral from the Federal Housing Finance Agency based on a Fannie Mae memo alleging Schiff falsified bank documents and property records to secure favorable loan terms.
• A Fannie Mae Financial Crimes Investigations Unit memo describes a “sustained pattern of possible occupancy misrepresentation” across five mortgages tied to Schiff’s Potomac, Maryland property.
• FHFA Director William Pulte’s letter cites potential violations of federal statutes including wire fraud, mail fraud, bank fraud and making false statements to financial institutions.
• Schiff’s office maintains that lenders were aware of his year-round use of both his Maryland and California homes and that neither was treated as a vacation property.
• The probe has drawn partisan response, with President Trump urging DOJ action and Fox News host Laura Ingraham first reporting the Maryland investigation.