"William Pulte, a businessman and major GOP donor whom Donald Trump appointed to head the powerful housing agency earlier this year, has accused Cook of committing mortgage fraud by misrepresenting her homes as a primary residence, potentially securing more favorable mortgage rates. The justice department formally opened a criminal investigation into whether Cook committed fraud and has issued subpoenas related to the transaction."
"Cook's lawyers have called the discrepancies a clerical error and she has denied any wrongdoing. Trump has used those accusations as the basis to try to fire Cook, who has strongly denied the allegations and is contesting her firing in court. Pulte has also made similar referrals against New York attorney general Letitia James and California senator Adam Schiff, both political rivals of Trump."
"Investigations into mortgage fraud are usually handled by the Federal Housing Finance Agency's office of inspector general (OIG), an agency watchdog, staffed with lawyers and agents with an expertise in investigating crimes, including mortgage fraud. The OIG is then the office that typically makes a criminal referral. It's very bizarre for Pulte to be the one making a criminal referral himself and it's not coming from the IG's office, said Janell Byrd-Chichester, a former chief of staff at FHFA."
William Pulte, appointed by Donald Trump to lead the Federal Housing Finance Agency, accused Federal Reserve Governor Lisa Cook of mortgage fraud for allegedly misrepresenting homes as primary residences to obtain favorable mortgage rates. The Justice Department opened a criminal investigation and issued subpoenas connected to the transaction. Cook and her lawyers denied wrongdoing, calling discrepancies clerical errors, and Cook is contesting her attempted removal in court. Pulte also made referrals against political rivals Letitia James and Adam Schiff. Former FHFA and OIG officials described Pulte's direct involvement in making a criminal referral as highly unusual because the OIG normally handles such matters.
Read at www.theguardian.com
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