President Trump called on Biden-appointed Federal Reserve Governor Lisa Cook to resign on Wednesday after the head of the U.S. Federal Housing Finance Agency, Bill Pulte, criminally referred her to the Justice Department for mortgage fraud.
According to Pulte’s criminal referral, Lisa Cook committed mortgage fraud by lying on her mortgage application and falsifying bank statements when she designated her out-of-state Atlanta condo as her “primary residence”—just two weeks after taking a loan on her Michigan home, which she also claimed as her “primary residence.”
By claiming “primary residence” on her out-of-state condo, Lisa Cook received more favorable loan terms and a lower interest rate.
On June 18, 2021, Ms. Cook acquired a loan on a property in Ann Arbor, Michigan. On the mortgage agreement, Cook represented to “use the Property as Borrower’s principal residence within 60 days after the execution of her agreement.