Pulte alleges that Cook misrepresented occupancy status on multiple home purchases to obtain lower interest rates and down payments reserved for non-investment properties. Federal referrals stem from purchases in Michigan and Georgia and question whether Cook continued to misrepresent an Atlanta property while it was rented. Federal authorities, including Attorney General Pam Bondi and the DOJ, have not filed charges. Cook's ethics filings reported rental income from a Cambridge property. A referral letter requests further scrutiny of conflicting financial disclosures. Cook, a Biden-era Fed governor appointee, has filed a lawsuit seeking to void a removal order and contest the fraud allegations as insufficient cause.
In both cases, Pulte alleges Cook misrepresented occupancy status to secure lower interest rates and down payments, since investment properties typically carry higher costs. Attorney General Pam Bondi and the Department of Justice (DOJ) have yet to file charges. Cook's attorney, Abbe D. Lowell, has not responded to HousingWire's request for comment. Cook's December 2021 and subsequent federal ethics forms reported $15,000 to $50,000 in rental income from the Cambridge property.
Representing the property as a second home may have allowed Cook to secure a lower Second Home' mortgage down payment and rates, as investment properties typically carry higher down payments and higher rates due to increased risk, Pulte wrote on a social media post. Pulte also claims that Cook, while serving as a Fed governor, continued to misrepresent her Atlanta property as a primary residence while it was rented out.
His referral letter added: While the previously referred misconduct by Ms. Cook necessitates review to determine whether various criminal statutes have been violated, U.S. Federal Housing believes that even further scrutiny is required given the conflicting nature of Mr. Cook's financial disclosures. Cook, a Biden-era appointee and the first Black woman on the Fed board, announced her plans earlier this week to sue Trump for attempting to fire her.
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