President Donald Trump called for Federal Reserve Governor Lisa Cook to resign on Wednesday following allegations of mortgage fraud raised by Bill Pulte, head of the U.S. Federal Housing Finance Agency.
Pulte formally referred Cook to the Justice Department, claiming she misrepresented her principal residence on mortgage applications for two different properties in order to secure more favorable loan terms.
According to Pulte’s referral, Cook purchased a Michigan home on June 18, 2021, identifying it as her principal residence with the expectation she would occupy it within 60 days.
Less than two weeks later, however, she acquired a condominium in Atlanta, Georgia, also designating that property as her primary residence.
Mortgage lenders typically offer lower interest rates for owner-occupied homes compared to rental properties, making the designation financially advantageous.
Pulte alleged that by double-claiming residency, Cook engaged in “occupancy fraud.”
He further noted that the Atlanta condo was listed for rent by September 2022, yet Cook’s federal disclosures did not report rental income from the property, The Gateway Pundit reports.
Trump reacted strongly on Truth Social, demanding that Cook “resign, now!!” and questioning whether Federal Reserve Chair Jerome Powell was aware of the situation.
He accused the central bank of