by Matt Vespa at Townhall
It’s one thing to weather a storm over carpetbagging. It’s another thing entirely when it involves alleged mortgage fraud. Sen. Adam Schiff (D-CA) was the subject of a criminal referral at the Justice Department over claims that he allegedly committed mortgage fraud regarding his primary residence in Maryland (via Fox News):
Continue ReadingThe director of the U.S. Federal Housing Finance Agency (FHFA) sent a letter to Attorney General Pam Bondi and Deputy Attorney General Todd Blanche in May citing alleged misconduct by Schiff, who owns homes in California and Maryland.
“Based on media reports, Mr. Adam B. 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,” FHFA Director William Pulte wrote in the letter, which Fox News obtained on Wednesday. “As regulator of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, we take very seriously allegations of mortgage fraud or other criminal activity. Such misconduct jeopardizes the safety and soundness of FHFA’s regulated entities and the security and stability of the U.S. mortgage market.”
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Schiff and his wife purchased a home in Potomac, Maryland, in 2003 for $870,000, according to the letter. They entered into a Fannie Mae-backed mortgage agreement for $610,000 at a rate of 5.625% over a term of 30 years, asserting the property would be their primary and principal residence.
The letter said they reaffirmed that the Maryland home was their…