One of the principal authors of the Trump-Ukraine Impeachment Hoax is a mortgage fraudster, a federal housing official alleges.
In a referral to the Justice Department, Federal Housing and Finance Agency (FHFA) chief William Pulte claimed that far-left, hate-Trump, Democratic Senator Adam Schiff of California “falsified” bank and property documents and records to obtain favorable terms on loans.
Schiff, whom Trump calls “Shifty,” called the allegations political persecution.
In the missive to Attorney General Pam Bondi and Deputy Attorney General Todd Blanche, Pulte alleged Schiff “has, in multiple instances, falsified bank documents and property records to acquire more favorable loan terms, impacting payments from 2003-2019 for a Potomac, Maryland-based property.”
Pulte claimed that then-Representative Schiff and his wife bought the property on May 9, 2003 for $870,000. On June 5 that year, they obtained a 30-year Fannie Mae-backed mortgage for $610,000 at 5.525 percent. Zillow reports that the home is worth $1.45 million.
“According to a Fannie Mae/Freddie Mac Form 3021, they affirmed this would be their primary/principal residence,” Pulte wrote.
As well, the couple refinanced the mortgage four times — 2009, 2011, 2012, 2013 — as the principal residence “despite being an elected official representing the state of California at the same time.”
Only in 2020, in yet another refinancing, did Schiff list the property as his secondary residence, Pulte alleged:
However, according to media reports, over that same time frame Mr. Schiff took a homeowner’s tax exemption on a condo that he owns in Burbank, California, also claiming that home as his primary residence for a $7,000 reduction off the 1% property tax. And in 2023, a spokesperson for Mr. Schiff asserted that “Adam’s primary residence is Burbank, California, and will remain so when he wins the Senate seat.”
Pulte observed that “primary residence mortgages receive more favorable loan terms,” notably on interest rates, than secondary mortgages because the latter are riskier for the lenders.
Schiff, Pulte wrote,
appears 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 as a spokesperson in 2023 told the media outlet CNN that, “Adam’s 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.”
Schiff might very well have violated federal wire, mail, and bank fraud statutes, along with a fourth law that forbids lying to financial institutions, Pulte wrote.
Trump, the target of Schiff’s impeachment hoax, enjoyed the schadenfreude.
“I have always suspected Shifty Adam Schiff was a scam artist,” Trump wrote on Truth Social:
And now I learn that Fannie Mae’s Financial Crimes Division have concluded that Adam Schiff has engaged in a sustained pattern of possible Mortgage Fraud.… I always knew Adam Schiff was a Crook.… Mortgage Fraud is very serious, and CROOKED Adam Schiff (now a Senator) needs to be brought to justice.
Schiff complained that he was merely another of Trump’s political enemies, and that Trump had wrongly accused him of treason and called for him to be jailed. He also claimed that the possible prosecution is meant to distract from Trump’s “Epstein problem,” meaning the fallout among supporters who expected him to disclose the whole truth about deceased sex pervert and trafficker Jeffrey Epstein.
“In the case of the present attack on me, the president has an additional motive,” Schiff said in a video,
and that is Jeffrey Epstein. Basically, the controversy of the Epstein files has dominated MAGA world, and the president needs a distraction. And I am a convenient distraction. So the president today is accusing me of fraud. And the basis of his accusation is that I own a home in Maryland, and I own my home in California. Big surprise — members of Congress, almost all of them, own more than one home or rent more than one home because we’re required to be on both coasts. So he is using my ownership of two homes to make a false claim of mortgage fraud. But what really is going on here is this is Donald Trump trying to bring about political retribution, retaliation — trying to distract from his Epstein files problem. And the bigger problem, of course, is that this is a terrible abuse of power. A president threatening prosecution or saying that his opponent should be jailed. This is the kind of stuff you see tinpot dictators do.
On X, Schiff wrote that the possible prosecution “won’t stop me from holding him accountable.”
As Pulte noted in his letter to Bondi and Blanche, Schiff isn’t the only far-left Democrat involved in such shenanigans.
In May last year, the former state’s attorney of Baltimore, Marilyn J. Mosby, was sentenced to a year of home confinement and three years of supervised release after she was convicted of mortgage fraud and two counts of perjury.
Still under a cloud is New York Attorney General Letitia James. FHFA accused James of crimes similar to those of which Schiff is accused. James, FHFA alleged, claimed that her father was her husband in mortgage documents. She is also the subject of a bar complaint by America First Legal.
Aside from his failed effort to impeach Trump, Schiff is also famous for pushing the lie that American intelligence agencies believed the Hunter Biden laptop was “Russian disinformation.” Then-Director of National Intelligence John Ratcliffe said the intelligence agencies believed no such thing.
Schiff also spoke with Russian pranksters who told him they had nude photos of Trump with Russian singer Olga Buzova. Schiff told the pranksters he wanted to get the photos. His staff later claimed that they knew the photos were “bogus.”