Overview

• FHFA Director Bill Pulte referred alleged occupancy-fraud cases involving Letitia James, Adam Schiff and Lisa Cook to the Justice Department, drawing criticism that the referrals target Trump’s opponents.
• Trump has invoked the allegations to justify firing Federal Reserve Governor Lisa Cook, who is challenging the move in court.
• A 2023 Federal Reserve Bank of Philadelphia study identified more than 22,000 potential occupancy-fraud cases from 2005 to 2017, while federal prosecutors filed fewer than 20 mortgage-fraud cases in fiscal year 2024.
• Republican figures face similar scrutiny, with the Associated Press reporting Ken Paxton and his wife signed mortgages listing multiple homes as primary residences, a fact highlighted by Sen. John Cornyn as he urged evenhanded enforcement.
• Experts note borrowers can be insulated if transparent with lenders, and reporting indicates Cook did not secure unusually favorable rates while Schiff’s lenders were informed of his bicoastal work obligations.