In a significant development involving a Federal Reserve governor, Lisa Cook, new documents have emerged that appear to contradict allegations of mortgage fraud related to her Atlanta property. According to records obtained by NBC News, Cook listed her Atlanta home as a “vacation home” rather than her primary residence, a detail that may undermine claims from the Trump administration regarding her property status.
Bill Pulte, the Director of the Federal Housing Finance Agency, alongside former President Donald Trump, has accused Cook of misrepresenting her home as her main residence to gain financial advantages. Cook has steadfastly denied these allegations, and officials from the Trump administration have yet to produce credible evidence to substantiate their claims.
A loan summary from the Bank-Fund Staff Federal Credit Union dated May 2021 explicitly states that the property was designated as a “vacation home.” Furthermore, an examination of public records in Fulton County, Georgia, revealed that Cook did not apply for any of the tax exemptions typically available for primary residences.
Another document in question is Cook’s “questionnaire for national security positions,” submitted to the Biden administration in late 2021. In this form, she was asked to disclose any interests in real property. Cook simply noted her Atlanta property as a “2nd home.”
Following these revelations, the Federal Housing Finance Agency and the White House did not provide comments regarding the documents. Cook’s legal team has also declined to speak on the matter.
In a criminal referral to Attorney General Pam Bondi, Pulte alleged that Cook may have falsified bank documents and property records to secure better loan terms, claiming this could amount to mortgage fraud. The referral included accusations of misrepresenting residence statuses for both her Ann Arbor, Michigan residence and the aforementioned Atlanta property.
In a bold move, Trump announced his intention to remove Cook from her position at the Federal Reserve, marking a rare instance of a president attempting to dismiss a high-ranking Fed official. However, a federal judge has temporarily halted Cook’s termination, and the Trump administration has appealed, seeking a resolution ahead of the Federal Reserve’s next interest-rate setting meeting.
Pulte has reiterated, in various interviews and on social media, that Cook allegedly provided misleading information about her mortgages to the Federal Government during her tenure as a governor. Cook’s national security questionnaire was filed in December 2021, and she was confirmed to the Federal Reserve in May 2022.
In recent legal filings, Cook’s lawyers have categorically stated that she “did not ever commit mortgage fraud.” The Federal Reserve has indicated its intention to respect the outcome of Cook’s ongoing legal proceedings.
