Author Topic: Criminal Referral on Federal Reserve Gov. Lisa Cook - mortgage fraud[update] (Read 3077 times)

mountaineer · « **on:** August 20, 2025, 08:06:15 am »

This is gleaned from some X posts. Bill Pulte, U.S. Director of Federal Housing, has made the referral on this Fed. Reserve Governor:

Quote

Pulte
@pulte

U.S. Federal Housing FHFA, alleges in a Criminal Referral to the Department of Justice that Federal Reserve Governor, Lisa D. Cook, committed mortgage fraud by designating her out of state condo as her primary residence, just two weeks after taking a loan on her Michigan home where she also declared it as her primary residence.

When someone commits mortgage fraud, they undermine the faith and integrity of our System.

It does not matter who you are - no one is above the law.

We have sent a Criminal Referral to the Department of Justice with regard to the allegations against Ms. Cook, and the DOJ should go wherever the facts may lead them.

6:18 AM · Aug 20, 2025

mountaineer · « **Reply #1 on:** August 20, 2025, 08:08:52 am »

Lisa Cook becomes first black woman to serve on Federal Reserve board
Economics professor and former Obama adviser confirmed by US Senate with Democratic support
Colby Smith in Washington
Published May 10 2022
Story at Financial Times

https://twitter.com/EricLDaugh/status/1958123341312672104

mystery-ak · « **Reply #2 on:** August 20, 2025, 01:20:57 pm »

Lisa Cook’s Mortgage Woes Could Open A Fed New Seat for Trump to Fill

John Carney
20 Aug 2025

President Donald Trump could potentially gain a new ally on the Federal Reserve if allegations of potential mortgage fraud force Federal Reserve Governor Lisa Cook to resign.

Trump on Wednesday urged Federal Reserve Governor Lisa Cook to resign after Federal Housing Finance Agency Director Bill Pulte asked Attorney General Pam Bondi to investigate whether she misrepresented her residency on two mortgages—an escalation of the administration’s pressure campaign on the central bank.

If Cook were to step down, it would give Trump another seat to fill on the Fed’s board of governors. That could be enough to create a Trump-appointed majority on the board if Powell steps down when his chairmanship ends next May.

The Federal Open Market Committee, which sets interest rate policy, is made up of the seven Fed governors, the president of the New York Fed, and four out of eleven other regional Fed banks. The regional presidents rotate onto the committee for one-year terms.

Trump said Cook “must resign now,” citing Pulte’s allegations. Pulte, in social-media posts, said the claims give Trump “cause to fire” her.

In an Aug. 15 letter to Bondi and Justice Department official Ed Martin, Pulte said public records suggest Cook “falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute.”

more
https://www.breitbart.com/economy/2025/08/20/trump-urges-fed-governor-lisa-cook-to-resign-after-housing-finance-chief-seeks-mortgage-probe/

mystery-ak · « **Reply #3 on:** August 20, 2025, 01:22:10 pm »

Trump Calls on Fed Governor to Resign over Alleged Mortgage Fraud

President Donald Trump on Wednesday called on Federal Reserve Governor Lisa Cook to resign after officials accused the Fed board member of mortgage fraud.

https://www.breitbart.com/politics/2025/08/20/trump-calls-on-fed-governor-to-resign-over-alleged-mortgage-fraud/

DefiantMassRINO · « **Reply #4 on:** August 20, 2025, 01:43:16 pm »

WTF is with these rich, elitist, entitled bastids lying about their 'primary' residence on mortgages?

This is the type of mortage fraud that precipitated the 2008/2009 Finanicial Crisis, for which too few banksters and Government officials went to prison.

Mod2 · « **Reply #5 on:** August 20, 2025, 02:30:21 pm »

Topics merged

mystery-ak · « **Reply #6 on:** August 22, 2025, 12:02:11 pm »

Trump: Will Fire Fed Governor Lisa Cook If She Does Not Step Down After Allegation of Mortgage Fraud

President Donald Trump on Friday said he will fire Federal Reserve Governor Lisa Cook if she does not resign after she was accused of mortgage fraud.

https://www.breitbart.com/politics/2025/08/22/trump-will-fire-fed-governor-lisa-cook-if-she-does-not-step-down-after-allegation-of-mortgage-fraud/

Wingnut · « **Reply #7 on:** August 22, 2025, 12:50:58 pm »

Quote from: mystery-ak on August 22, 2025, 12:02:11 pm

Trump: Will Fire Fed Governor Lisa Cook If She Does Not Step Down After Allegation of Mortgage Fraud

President Donald Trump on Friday said he will fire Federal Reserve Governor Lisa Cook if she does not resign after she was accused of mortgage fraud.

https://www.breitbart.com/politics/2025/08/22/trump-will-fire-fed-governor-lisa-cook-if-she-does-not-step-down-after-allegation-of-mortgage-fraud/

She won't resign. When DJT fires Lisa Crook, her black ass will throw the race card. And with in days will appear on Rev. Sharlatins show over at the "More Sh*t Now" network.

mountaineer · « **Reply #8 on:** August 23, 2025, 10:15:02 am »

Pulte
@pulte
I am referring 2 more people this afternoon for mortgage fraud.
12:37 PM · Aug 22, 2025

GtHawk · « **Reply #9 on:** August 23, 2025, 04:32:24 pm »

Quote from: Wingnut on August 22, 2025, 12:50:58 pm

She won't resign. When DJT fires Lisa Crook, her black ass will throw the race card. And with in days will appear on Rev. Sharlatins show over at the "More Sh*t Now" network.

My bad, I read Rev. Sharlatin as as Rev. Shartlin…..which may be more accurate considering what come out his mouth 🤔

Wingnut · « **Reply #10 on:** August 23, 2025, 05:02:54 pm »

Quote from: GtHawk on August 23, 2025, 04:32:24 pm

My bad, I read Rev. Sharlatin as as Rev. Shartlin…..which may be more accurate considering what come out his mouth 🤔

Watched him blather on the otherday. Just going on about some nonsense with Mourning Joe and I thought to myself, Self, that old black dude looks like a human bobblehead.

Fishrrman · « **Reply #11 on:** August 23, 2025, 05:48:21 pm »

Wingnut prognosticates:
"When DJT fires Lisa Crook, her black ass will throw the race card"

Dat race card jes don' seem to have the buyin' power it use to have, not no mo'...

jmyrlefuller · « **Reply #12 on:** August 24, 2025, 07:32:04 am »

Quote from: DefiantMassRINO on August 20, 2025, 01:43:16 pm

WTF is with these rich, elitist, entitled bastids lying about their 'primary' residence on mortgages?

This is the type of mortage fraud that precipitated the 2008/2009 Finanicial Crisis, for which too few banksters and Government officials went to prison.

At the risk of sounding like Hillary Clinton, what difference does it make?

It's one thing if you're claiming multiple primary residences for things like voting, or collecting benefits. But a loan is a loan, a house is a house.

This oddly specific theme of going after black women for claiming multiple primary residences screams of "gotchas." Also, personal loan applications are not supposed to be public record.

I cannot believe I'm taking the side of the Democrats on this but I just don't get what this is supposed to be achieving.

mystery-ak · « **Reply #13 on:** August 25, 2025, 08:12:39 pm »

https://twitter.com/nicksortor/status/1960131390663692404

Kamaji · « **Reply #14 on:** August 25, 2025, 09:28:29 pm »

Quote from: jmyrlefuller on August 24, 2025, 07:32:04 am

At the risk of sounding like Hillary Clinton, what difference does it make?

It's one thing if you're claiming multiple primary residences for things like voting, or collecting benefits. But a loan is a loan, a house is a house.

This oddly specific theme of going after black women for claiming multiple primary residences screams of "gotchas." Also, personal loan applications are not supposed to be public record.

I cannot believe I'm taking the side of the Democrats on this but I just don't get what this is supposed to be achieving.

Not all loans are created equal. Generally, banks consider a principal residence to be a lower-risk asset than a second home or an investment property and are therefore willing to lend on more favorable terms if the loan is for a principal residence, such as better interest rates and lower down payment requirements. So representing that the loan is for a principal residence gets the borrower valuable economic benefits, and so someone who falsely represents that the property is their principal residence is, in fact, committing financial fraud.

And typically, the loan documents or the mortgage will include the representations made by the borrower, and those are a matter of public record because they are recorded just like a deed is. Depending on what jurisdiction you're in, you might be able to access your county's real property records online for free; you can pull a couple of recorded mortgages and see what they say.

Wingnut · « **Reply #15 on:** August 25, 2025, 09:34:15 pm »

Quote from: Kamaji on August 25, 2025, 09:28:29 pm

Not all loans are created equal. Generally, banks consider a principal residence to be a lower-risk asset than a second home or an investment property and are therefore willing to lend on more favorable terms if the loan is for a principal residence, such as better interest rates and lower down payment requirements. So representing that the loan is for a principal residence gets the borrower valuable economic benefits, and so someone who falsely represents that the property is their principal residence is, in fact, committing financial fraud.

And typically, the loan documents or the mortgage will include the representations made by the borrower, and those are a matter of public record because they are recorded just like a deed is. Depending on what jurisdiction you're in, you might be able to access your county's real property records online for free; you can pull a couple of recorded mortgages and see what they say.

So..your saying it is okay? Or are you being an obtuse lawn flamingo?

Kamaji · « **Reply #16 on:** August 25, 2025, 09:36:19 pm »

Quote from: Wingnut on August 25, 2025, 09:34:15 pm

So..your saying it is okay? Or are you being an obtuse lawn flamingo?

Wingnut · « **Reply #17 on:** August 25, 2025, 09:42:44 pm »

Quote from: Kamaji on August 25, 2025, 09:36:19 pm

I liked it better when you didn't post. But hey Carry on. It has been lonely without you.

Kamaji · « **Reply #18 on:** August 25, 2025, 09:47:33 pm »

Quote from: Wingnut on August 25, 2025, 09:42:44 pm

I liked it better when you didn't post. But hey Carry on. It has been lonely without you.

Awww, did somebody forget to put his big-boy pants on?

Wingnut · « **Reply #19 on:** August 25, 2025, 09:51:52 pm »

Kamijoy Enjoy your return here. However it may last

Kamaji · « **Reply #20 on:** August 25, 2025, 10:00:35 pm »

Quote from: Wingnut on August 25, 2025, 09:51:52 pm

Kamijoy Enjoy your return here. However it may last

Smokin Joe · « **Reply #21 on:** August 25, 2025, 10:24:42 pm »

Quote from: Fishrrman on August 23, 2025, 05:48:21 pm

Wingnut prognosticates:
"When DJT fires Lisa Crook, her black ass will throw the race card"

Dat race card jes don' seem to have the buyin' power it use to have, not no mo'...

Bidenflation...

Smokin Joe · « **Reply #22 on:** August 25, 2025, 10:27:48 pm »

Quote from: jmyrlefuller on August 24, 2025, 07:32:04 am

At the risk of sounding like Hillary Clinton, what difference does it make?

It's one thing if you're claiming multiple primary residences for things like voting, or collecting benefits. But a loan is a loan, a house is a house.

This oddly specific theme of going after black women for claiming multiple primary residences screams of "gotchas." Also, personal loan applications are not supposed to be public record.

I cannot believe I'm taking the side of the Democrats on this but I just don't get what this is supposed to be achieving.

Maybe enforcing the law. It isn't limited to blacks, by any means, and should be a prosecutorial free-for-all, regardless of any checkboxes.

(Maybe it's just that more prominent blacks think the rules don't apply to them, because, whatever.)

Cyber Liberty · « **Reply #23 on:** August 25, 2025, 10:42:06 pm »

Now ex-Federal Reserve Governor...

DB · « **Reply #24 on:** August 25, 2025, 11:23:03 pm »

It isn't just mortgage fraud. It is also insurance fraud. Insurance on a primary residence is lower than a secondary home.

mystery-ak · « **Reply #25 on:** August 26, 2025, 08:13:42 am »

Federal Reserve Gov. Lisa Cook responds to Trump: ‘I will not resign’
by Sarah Fortinsky - 08/26/25 7:30 AM ET

Federal Reserve Governor Lisa Cook doubled down on her vow not to resign from the Fed, after President Trump moved on Monday to fire the board member over mortgage fraud allegations.

In a statement, Cook argued the president has “no authority” to remove her from her post.

“President Trump purported to fire me ‘for cause’ when no cause exists under the law, and he has no authority to do so,” she said in a statement obtained by The Hill’s sister network NewsNation. “I will not resign.”

“I will continue to carry out my duties to help the American economy as I have been doing since 2022,” Cook added.

Trump last week called for the Fed governor, who was appointed by former President Biden in 2022, to resign following allegations by Bill Pulte — a Trump ally and the head of the Federal Housing Finance Agency (FHFA) — that she committed mortgage fraud by listing two primary residences. The president said he would try to remove Cook if she did not resign.

In his initial allegations, Pulte included photographs of document signatures allegedly belonging to Cook that applied to two different primary residences, one in Michigan and another described as an “Atlanta condo.”

The president has authority to fire members of the Federal Reserve Board of Governors for cause, but it’s unclear if the allegations against Cook would reach that standard.

more
https://thehill.com/homenews/administration/5470249-federal-reserve-lisa-cook-donald-trump-mortgage-fraud-claims/

mystery-ak · « **Reply #26 on:** August 26, 2025, 12:02:00 pm »

Lisa Cook will sue over Trump firing from Fed board, her lawyer says
Published Tue, Aug 26 202511:25 AM EDTUpdated 8 Min Ago
thumbnail
Dan Mangan

Federal Reserve Board Governor Lisa Cook will file a lawsuit challenging her removal by President Donald Trump, her attorney said Tuesday.

“President Trump has no authority to remove Federal Reserve Governor Lisa Cook,” the lawyer, Abbe Lowell, said in a statement, a day after Trump cited allegations of mortgage fraud by Cook in firing her.

“His attempt to fire her, based solely on a referral letter, lacks any factual or legal basis,” Lowell said.

“We will be filing a lawsuit challenging this illegal action.”

more
https://www.cnbc.com/2025/08/26/lisa-cook-sue-trump-fed.html

DefiantMassRINO · « **Reply #27 on:** August 26, 2025, 12:13:17 pm »

All these limousine liberals allegedly committing mortgage fraud reminds me of the liberal Harvard professors and liberal state judges that used to live in rent-controlled apartments in the 1970s and 1980s.

I didn't know Lisa Cook from a hole in the wall until I saw a picture of her on CNBC. Fits the profile of a D.E.I. hire - woman, black. Is she lesbian or transgender?

Libs love black women as D.E.I. hires because they check two 'diversity' boxes at once. Unfortunately, that puts black men at a disadvantage for affirmative action - they only check one 'diversity' box.

corbe · « **Reply #28 on:** August 26, 2025, 12:29:42 pm »

Wake me up when someone anyone goes to Jail for their crimes.

FBI has a list that all the American public needs to see ~ George Carlin

https://www.youtube.com/shorts/-v0_qOAMCTQ

DB · « **Reply #29 on:** August 26, 2025, 01:26:21 pm »

So in short, she's not challenging the fact that she perjured herself in both mortgage and insurance documents.

mountaineer · « **Reply #30 on:** August 26, 2025, 06:25:19 pm »

This is the Chicago Federal Reserve president campaigning for Pete Buttigieg. But remember, it’s a non-partisan institution that shouldn’t have to answer to the President.

https://twitter.com/Oilfield_Rando/status/1960466558041399619

mountaineer · « **Reply #31 on:** August 26, 2025, 06:31:58 pm »

Oh, it turns out Cook is a plagiarist, not the brilliant economist the Dems would lead you to believe.

https://twitter.com/realchrisrufo/status/1778090579303522533

mystery-ak · « **Reply #32 on:** August 26, 2025, 06:34:40 pm »

Per Fox....Trump said he will abide by the Judge's ruling..IOW's she remains on the job...

mountaineer · « **Reply #33 on:** August 26, 2025, 06:41:48 pm »

The allegations:

Jordan Schachtel
@JordanSchachtel
Lisa Cook obtained separate $203k & 550k mortgages for a MI & GA property, claiming both as a principal residence. She then rented them out and omitted the income from disclosures. She secured lower rates through false statements.
Fraudster.
POTUS had every right to can her.
9:50 AM · Aug 26, 2025

rustynail · « **Reply #34 on:** August 26, 2025, 06:52:09 pm »

Margot Cleveland
@ProfMJCleveland
·
4h
The Lisa Cook defense: “I may have committed financial fraud, but it was before I took my job as one of the chief financial officials in the nation. Nanny nanny boo boo.”

mystery-ak · « **Reply #35 on:** August 27, 2025, 12:46:21 pm »

https://twitter.com/defense_civil25/status/1960706727147380936

mountaineer · « **Reply #36 on:** August 28, 2025, 11:30:00 am »

Well, that's interesting. At no point in her 24-page lawsuit against Trump does Lisa Cook deny she committed mortgage fraud.

https://twitter.com/j_fishback/status/1961070483685736655

Free Vulcan · « **Reply #37 on:** August 28, 2025, 11:38:34 am »

It's the same old schtick - I'm black and I'm a woman so even if I did what you said you can't do anything because I'm oppressed and therefore above the law.

Get with the melting pot - you are subject to the same rules as the rest of us. We don't have a caste system here.

verga · « **Reply #38 on:** August 28, 2025, 12:15:16 pm »

Quote from: Wingnut on August 22, 2025, 12:50:58 pm

She won't resign. When DJT fires Lisa Crook, her black ass will throw the race card. And with in days will appear on Rev. Sharlatins show over at the "More Sh*t Now" network.

He still owes Millions in back taxes. He @$$ needs to be in jail.