Bill Pulte on New Mortgage Fraud Allegations Against Fed Governor Lisa Cook

New Criminal Referral for Lisa Cook

• 🎯 Bill Pulte discusses a second criminal referral for Fed Governor Lisa Cook, stemming from new information uncovered.
• 🔍 The referral is based on allegations that Cook misrepresented properties on mortgage applications, potentially securing better rates.

Allegations of Misrepresented Property Classifications

• 🏠 Pulte explains that Cook allegedly declared a property as her primary residence when applying for a Michigan loan, and two weeks later, declared another property as her primary residence for an Atlanta loan.
• 📊 Further investigation revealed a third property, where a loan was taken out four months prior, which was declared as a second home but previously classified as an investment property.
• ⚖️ The distinction between primary residence, second home, and investment property is crucial due to differing interest rates, raising concerns about potential fraud.

Accountability and Federal Reserve Credibility

• 🗣️ Pulte emphasizes that Cook, as the applicant, must account for the discrepancies in her mortgage applications.
• 🏦 He criticizes Fed Chair Jerome Powell for not publicly addressing the allegations and calling for Cook's resignation if the claims are true, arguing it harms the credibility of the Federal Reserve.
• 📉 The integrity of the mortgage market is seen as dependent on the Fed's credibility, making these allegations particularly concerning.

Pulte's Referral Process

• 🧑‍⚖️ Pulte clarifies that his organization refers cases criminally to the DOJ regardless of political affiliation (Democrat or Republican).
• 📢 They are committed to pursuing individuals but will only discuss cases that have already been made public.