William J. Pulte, Director of the Federal Housing Finance Agency (FHFA), has sent a letter to U.S. Attorney General Pam Bondi and Deputy Attorney General Todd Blanche citing mortgage fraud allegations against Sen. Adam Schiff.
According to the letter, Pulte claims “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.”
Sen. Schiff owns homes in both California and Maryland.
According to Fox News, Sen. Schiff and his wife purchased a home in Potomac, Maryland, in 2003 for $870,000. They entered into a Fannie Mae-backed mortgage for $610,000 at a rate of 5.625% over 30 years, asserting the property would be their primary and principal residence. The letter said they reaffirmed that the Maryland home was their primary residence in mortgage refinancing filings in 2009, 2011, 2012, and 2013, despite Sen. Schiff being an elected official representing the state of California at the same time. Fox News obtained a copy of the 2011 affidavit showing Schiff signed certifying that the Maryland house is his primary residence.
Earlier this week, Pulte received a memo from Fannie Mae claiming that Sen. Schiff engaged in “a sustained pattern of possible occupancy misrepresentation” on five Fannie Mae loans, Fox News has learned.
“Mr. Schiff appears to have falsified records in order to receive favorable loan terms, and also appears to have been aware of the financial benefits of a primary residence mortgage when compared to a secondary residence mortgage as a spokesperson in 2023 told the media outlet CNN that, ‘Adam’s California and Maryland addresses have been listed as primary residences for loan purposes because they are both occupied throughout the year and to distinguish them from a vacation property,’” wrote Pulte in the letter to Bondi. “U.S. Federal Housing FHFA believes this alleged misconduct could be violations of the criminal code under 18 U.S.C. § 1343 (wire fraud), 18 U.S.C. § 1341 (mail fraud), 18 U.S.C. § 1344 (bank fraud), 18 U.S.C. § 1014 (false statements to a financial institution), and/or other relevant state and federal laws.”
President Donald Trump, earlier this week, posted on Truth Social that Sen. Schiff is guilty of “mortgage fraud,” and demanded that he be “brought to justice.”
Trump posted: “I have always suspected Shifty Adam Schiff was a scam artist. And now I learn that Fannie Mae’s Financial Crimes Division have concluded that Adam Schiff has engaged in a sustained pattern of possible Mortgage Fraud. Adam Schiff said that his primary residence was in MARYLAND to get a cheaper mortgage and rip off America, when he must LIVE in CALIFORNIA because he was a Congressman from CALIFORNIA. I always knew Adam Schiff was a Crook. The FRAUD began with the refinance of his Maryland property on February 6, 2009, and continued through multiple transactions until the Maryland property was correctly designated as a second home on October 13, 2020. Mortgage Fraud is very serious, and CROOKED Adam Schiff (now a Senator) needs to be brought to justice.”
Schiff served as the lead investigator in the impeachment inquiry of President Trump.
“Since I led his first impeachment, Trump has repeatedly called for me to be arrested for treason,” said Sen Schiff via social media. “So in a way, I guess this is a bit of a letdown. And this baseless attempt at political retribution won’t stop me from holding him accountable. Not by a long shot.”
Sen. Schiff released a video replying to Trump’s accusations of mortgage fraud. In it, he stated: “So the president today is accusing me of fraud. And the basis of his accusation is that I own a home in Maryland, and I own my home in California. Big surprise—members of Congress, almost all of them, own more than one home or rent more than one home because we’re required to be on both coasts. So he is using my ownership of two homes to make a false claim of mortgage fraud. But what really is going on here is this is Donald Trump trying to bring about political retribution, retaliation— Trying to distract from his Epstein files problem. And the bigger problem, of course, is that this is a terrible abuse of power. A president threatening prosecution or saying that his opponent should be jailed. This is the kind of stuff you see tinpot dictators do. It is designed to intimidate his political opponents and somehow try to silence them. Well, I have news for Donald Trump. This bogus latest attack—this bogus latest call for me to be prosecuted or to be jailed—is not going to deter me. I’m going to continue to hold Donald Trump accountable for his corruption, for his malfeasance, for the terrible harms he’s doing to this country. You can count on it.”
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