FHFA Director Bill Pulte Targets Fed’s Lisa Cook in Mortgage Probe Backed by Trump

President Trump is backing a probe by his housing regulator into a Federal Reserve official. FHFA Director Bill Pulte is investigating Lisa Cook over mortgage claims.

Pulte alleges Cook improperly designated two homes as primary residences. The move could lead to her removal from the powerful central bank.

This action is part of a broader pattern of targeting Trump’s political opponents. Similar allegations have been made against other Democratic figures.

FHFA Director Bill Pulte Expands Mortgage Fraud Allegations

Bill Pulte serves as director of the Federal Housing Finance Agency. He was nominated by President Trump to oversee mortgage giants Fannie Mae and Freddie Mac.

His official mission is to safeguard the housing finance system. Recently, he has used his position to pursue fraud allegations against political figures.

According to the Associated Press, Pulte has accused Senator Adam Schiff and New York Attorney General Letitia James of similar mortgage infractions. These cases are reportedly being pursued by a Justice Department official.

Pulte stated on social media that fraud will not be tolerated. He claims his actions are about ensuring fairness in the housing market.

However, he has not pursued cases against Trump allies. Texas Attorney General Ken Paxton has faced similar mortgage questions without action from Pulte’s agency.

White House Backs Pulte’s Investigations Into Political Figures

The White House has expressed support for these investigations. A spokesman said anyone who violates the law should be held accountable.

President Trump directly commented on the Cook case this week. He stated she “seems to have had an infraction” and suggested he has replacements in mind.

This approach represents a significant shift for the traditionally independent FHFA. The agency is now being used as an instrument of political pressure.

Reuters has reported on Trump’s broader efforts to exert control over independent agencies. The Federal Reserve has been a particular focus of attention.

Pulte has also joined criticism of Federal Reserve Chair Jerome Powell. He questioned expensive renovations at the Fed’s headquarters amid rate cut pressures.

The situation highlights the administration’s use of housing policy for political goals. The FHFA director Bill Pulte has become a central figure in these efforts. His actions may have lasting impacts on financial oversight.

Frequently Asked Questions

Who is Bill Pulte?

Bill Pulte is the director of the Federal Housing Finance Agency. He oversees Fannie Mae and Freddie Mac, the government-sponsored mortgage enterprises.

What allegations does he make against Lisa Cook?

Pulte alleges Cook designated two homes as primary residences for better mortgage rates. This practice can violate loan agreements if not accurate.

Has Pulte investigated any Republicans?

No public reports indicate Pulte has pursued cases against Republicans. Texas Attorney General Ken Paxton has similar mortgage patterns without facing scrutiny.

What is the potential outcome for Lisa Cook?

President Trump could attempt to remove her from the Federal Reserve board. This would likely prompt a legal challenge over Fed independence.

Which news organizations have reported this story?

The Associated Press, Reuters, and BBC have all covered aspects of this story. Their reporting forms the basis of this article’s facts.