Trump Administration Expands Mortgage Fraud Allegations to Federal Reserve Governor

Swaraj

Published on November 6, 2025

Three Democratic Party officials have been charged with mortgage fraud brought before the administration of President Donald Trump over the last several weeks. The most recent claim surfaced on Wednesday, when Trump, who has been openly critical of the interest rate policies set by the Federal Reserve, went to his Truth Social site to demand the resignation of Federal Reserve Governor Lisa Cook, claiming she must resign immediately.

This post followed a letter from Federal Housing Finance Agency Director William J. Pulte to Attorney General Pam Bondi in which he accused Cook, appointed by President Joe Biden, of falsifying bank documents and property records to obtain more favorable loan terms. Pulte’s letters charged that Cook had misstated her residences for homes in Ann Arbor, Michigan, and Atlanta.

This action followed recent efforts targeting New York Attorney General Letitia James, who won a lawsuit against Trump and his company for what her office said were false assertions about his wealth and financial statements, which he supposedly used to get preferential rates on bank loans and insurance policies that he would not have qualified for otherwise. It also targeted Senator Adam Schiff, D-Calif., a key player in the impeachment proceedings against Trump.

In this case, a judge awarded James’s office over $300 million, a sum that has since risen to more than $500 million when interest is considered. This case, which Trump has described as ‘a fraud on me,’ is now under appeal. Early this month, NBC News said Bondi named a “special attorney” to look into the claims of mortgage fraud against Schiff and James, Ed Martin, a conservative activist and former interim U.S. attorney for Washington, D.C. A senior law enforcement official said at that point that a grand jury in Virginia would be examining the claims against James, while another grand jury in Maryland would consider the charges against Schiff. Regarding these allegations, Trump has demanded the prosecution of both politicians, just like the sudden placement of E.J. Antoni for BLS Commissioner. Both Schiff and James, now Cook, have vehemently refuted any misdeed.