Lisa Cook has repeatedly denied any fraudulent behavior in relation to her property, including her home in Michigan and investment property in Massachusetts.
Fed judge blocks Trump from temporarily firing federal governor Lisa Cook
President Donald Trump says he has “sufficient causes” to fire Gov. Lisa Cook over allegations of mortgage fraud.
WASHINGTON, Sept. 12 (Reuters) – A loan estimate in Atlanta home purchased by Lisa Cook, the Federal Reserve Governor accused of Trump administration’s mortgage fraud, shows that Cook has declared his property a “home for vacation.”
The document dated May 28, 2021 was issued for cooking by the credit union a few weeks before completing the purchase, indicating that the Atlanta property was not her primary residence. The document appears to counter other documents that Cook’s critics cited in support of their claims that they committed mortgage fraud by reporting two different homes as her main residence, two independent real estate experts said.
Reuters could not contact Cook for comment. She repeatedly denied any fraudulent behavior related to her real estate. This includes homes in Ann Arbor, Michigan and investment property in Massachusetts.
Administrative officials led by Bill Prute, director of federal housing finance agencies, have used her Atlanta and Michigan real estate mortgage documents to accuse Cook of claiming her as her “major residence.” False claims of residence that could improve the impact of mortgages and taxes on homeowners led Pulte to introduce the matter to the Justice Department, urging a federal investigation and order by President Donald Trump, leading her to dismiss her.
Cook, who remains in the Federal Reserve, sued the president and resisted her firing. Reuters could not determine whether Pulte or the administrative authorities were aware of Cook’s Atlan Tarone estimate. A spokesman for FHFA, a Pulte-led agency, did not respond to a request for comment.
The documents cited by Pulte include standardized federal mortgage documents that stipulate that each loan obtained by Cook for Atlanta and Michigan properties covers “major residences.” However, a document reviewed by Reuters for the Atlanta home, filed in court in Fulton County, Georgia, clearly states that the provision exists “unless the lender agrees in writing.” The credit union-produced document, the loan estimate, says it is “Real estate use: Vacation home.”
The document appears to be useful in Cook’s case, said two real estate experts who are not involved in representing her. That’s because during the loan application process, she tells the lender that she intends to use the property as a villa.
Lender, Washington-based Bank Fund Staff Federal Credit Union, did not respond to requests for comment.
On another point where she could help with Cook’s case, she never requested tax exemptions on her Georgia home as a primary residence, according to real estate records and Fulton County Tax officials.
Another document reviewed by Reuters shows that in December 2021 he declared Atlanta’s property “second home” in connection with the federal form completed by Cook when he obtained security clearance for his role in the Federal Reserve System. Although unrelated to mortgages, the declaration of that document, a supplement to the US government’s national security form known as SF-86, is consistent with her request for a summary of her Atlanta loans.
Surrounding the accusations against Cook are the fight over Trump’s efforts to exercise more control over the Federal Reserve, the US Central Bank and independent institutions intended to be free of political interference. Since returning to the White House earlier this year, Trump has often criticised the Fed governor because he has been reluctant to cut interest rates.
In the controversy, the personal finances of other government officials and their families have also been questioned by rival politicians, the media and others.
Last week, Reuters reported that Pulte’s own father and Stepmother declared two homes in two different states as primary residences, removing tax exemptions from Michigan towns and urged couples to charge back taxes. Pulte and his parents did not respond to requests for comment on the issue.
