Group Founded By Mike Pence Comes Out Against RFK Jr.\u2019s Nomination<\/a><\/strong><\/p>\n\n\n\n\u201cAs regulator of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, we take very seriously allegations of mortgage fraud or other criminal activity. Such misconduct jeopardizes the safety and soundness of FHFA\u2019s regulated entities and the security and stability of the U.S. mortgage market,\u201d Pulte noted further.<\/p>\n\n\n\n
Fox News also reported that Pulte later received a memo from Fannie Mae\u2019s financial crimes investigations unit alleging that Sen. Adam Schiff engaged in \u201ca sustained pattern of possible occupancy misrepresentation\u201d involving five Fannie Mae-backed loans.<\/p>\n\n\n\n
According to the letter, Schiff and his wife purchased a home in Potomac, Md., in 2003 for $870,000. They secured a Fannie Mae-backed mortgage for $610,000 with a 30-year term at an interest rate of 5.625%, claiming the property would serve as their primary and principal residence.<\/p>\n\n\n\n
The letter states that Schiff and his wife repeatedly affirmed the Maryland property as their primary residence in mortgage refinancing documents filed in 2009, 2011, 2012, and 2013\u2014even as Schiff was serving as a U.S. Representative for the state of California.<\/p>\n\n\n\n
Fox News obtained a copy of the 2011 affidavit in which Schiff signed a declaration certifying the Maryland home as his primary residence.<\/p>\n\n\n\n
According to Pulte, the couple did not designate the Maryland property as a secondary residence until 2020, Fox noted further.<\/p>\n\n\n\n
During the same period, Schiff claimed a homeowner\u2019s tax exemption on a condominium he owns in Burbank, California\u2014asserting it as his primary residence and receiving a $7,000 reduction on the 1% property tax, Pulte wrote, citing media reports.<\/p>\n\n\n\n
In 2023, the letter added, a spokesperson for the then-congressman asserted that, \u201cAdam\u2019s primary residence is Burbank, California, and will remain so when he wins the Senate seat.\u201d<\/p>\n\n\n\n
The federal housing official stated that he believes Schiff\u2019s alleged actions may constitute violations of federal criminal statutes, including those prohibiting wire fraud, mail fraud, bank fraud, and making false statements to financial institutions.<\/p>\n\n\n\n
Schiff \u201cappears to have falsified records in order to receive favorable loan terms, and also appears to have been aware of the financial benefits of a primary residence mortgage when compared to a secondary residence mortgage,\u201d Pulte wrote.<\/p>\n\n\n\n
The letter also noted that a spokesperson for Schiff in 2023 told CNN that, \u201cAdam\u2019s California and Maryland addresses have been listed as primary residences for loan purposes because they are both occupied throughout the year and to distinguish them from a vacation property.\u201d<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Sen. Adam Schiff, D-Calif., is reportedly under criminal investigation for alleged mortgage fraud, according to a Trump administration<\/p>\n","protected":false},"author":2,"featured_media":1440,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-1439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics"],"_links":{"self":[{"href":"https:\/\/states-news.com\/index.php?rest_route=\/wp\/v2\/posts\/1439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/states-news.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/states-news.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/states-news.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/states-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1439"}],"version-history":[{"count":1,"href":"https:\/\/states-news.com\/index.php?rest_route=\/wp\/v2\/posts\/1439\/revisions"}],"predecessor-version":[{"id":1441,"href":"https:\/\/states-news.com\/index.php?rest_route=\/wp\/v2\/posts\/1439\/revisions\/1441"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/states-news.com\/index.php?rest_route=\/wp\/v2\/media\/1440"}],"wp:attachment":[{"href":"https:\/\/states-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/states-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/states-news.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}