The Mortgage Fraud claims of the Governor of the Fed are covered by document obtained by Reuters

Washington, September 12 (Reuters) – An estimate of loan for an Atlanta house bought by Lisa Cook, the governor of the Federal Reserve accused of mortgage fraud by the Trump administration, shows that Cook had declared the property as a “holiday house”, according to a document reviewed by Reuters.

The document, dated May 28, 2021, was issued to Cook for its credit cooperative in the weeks that she would complete the purchase and shows that she had told the lender that the property of Atlanta would not be her main residence. The document seems to counteract another documentation that Cook critics have cited in support of their statements that she committed mortgage fraud by informing two different houses such as her main residence, two independent real estate experts said.

Reuters could not get to Cook to comment. She has repeatedly denied any irregularity with respect to her properties, which also includes a house in Ann Arbor, Michigan and an investment property in Massachusetts.

Mark Schiefelbein through News

Administration officials led by Bill Ablicte, director of the Federal Housing Finance Agency, have used mortgage documents of their properties of Atlanta and Michigan to accuse Cook of claiming as his “main residence.” The alleged residence claims, which could improve the mortgage and fiscal implications for an owner, led tos to send the matter to the Department of Justice, which led to a federal investigation and an order by President Donald Trump to say goodbye.

Cook, who remains in the Federal Reserve, has sued the president to resist his dismissal. Reuters could not determine whether pulte or administration officials are aware of the estimation of loans from Cook Atlanta. The FHFA spokesmen, the agency led by pulte, did not respond to a request for comments.

The documents cited by pulte include standardized documents of federal mortgages that stipulates that each loan obtained by Cook for the properties of Atlanta and Michigan is intended for a “primary residence.” But the documentation reviewed by Reuters for the House of Atlanta, presented before a court in Fulton County of Georgia, clearly says that stipulation exists “unless the lender agrees in writing.” The loan estimate, a document prepared by the Credit Cooperative, establishes “Use of Property: Holiday House”.

The document seems to help Cook’s case, said two real estate experts who are not involved in representing it. This is because it indicates that during the loan application process, he told the lender that he intended to use the property as a holiday house.

The lender, the Federal Cooperative of Banking Personnel based in Washington, did not respond to a request for comments.

At another point that could help Cook’s case, he never requested a tax exemption to Georgia’s house as the main residence, according to property records and a Fulton County Tax official.

A separate document reviewed by Reuters, related to a federal form completed by Cook when he obtained security authorization for his role in the Federal Reserve, shows that in December 2021 he also declared the property of Atlanta as a “second house.” Although it is not related to the mortgage, the declaration on that document, a supplement of a national security form of the United States government known as SF-86, is consistent with the claim on its summary of Atlanta loans.

Around the accusations against Cook there is a battle about Trump’s effort to exercise more control over the Federal Reserve, the Central Bank of the United States and an independent institution aimed at being free of political interference. Trump often criticized the governors of the Fed due to their reluctance to reduce interest rates since he returned to the White House earlier this year.

Amid the controversy, the personal finances of other government officials and their families have also questioned the rival politicians, the media and others.

Last week, Reuters reported that the father himself and Madte’s stepmother had declared two houses in two different states as their main residence, which led a city in Michigan to eliminate a tax exemption for their home there and charge the couple for the taxes on the back. Abundo and his parents did not respond to requests for comments on the matter.

(Paulo Prada edition.)