❓WHAT HAPPENED: Senator Adam Schiff (D-CA) is under criminal investigation for possible mortgage fraud after a referral to the Department of Justice by the Federal Housing Finance Agency.
👤WHO WAS INVOLVED: Senator Adam Schiff, the U.S. Attorney’s Office in Maryland, FHFA Director William Pulte, and Fannie Mae financial crimes investigators.
📍WHEN & WHERE: The investigation spans alleged fraudulent transactions from 2003-2019 involving properties in Maryland and California.
💬KEY QUOTE: “Adam Schiff said that his primary residence was in MARYLAND to get a cheaper mortgage and rip off America, when he must LIVE in CALIFORNIA because he was a Congressman from CALIFORNIA.” – Donald Trump
🎯IMPACT: Allegations of mortgage fraud could have significant legal and political consequences for Senator Schiff, and raise concerns about the stability of the U.S. mortgage market.
The U.S. Attorney’s Office in Maryland is conducting a criminal investigation into Senator Adam Schiff (D-CA) for alleged mortgage fraud. The investigation follows a criminal referral made by the Federal Housing Finance Agency (FHFA) to the Department of Justice (DOJ).
Schiff is accused of altering bank documents and property records in several cases to secure more favorable loan terms. Allegedly, Schiff claimed both his Burbank, California, and Maryland homes as his primary residences to obtain advantageous mortgage rates. The allegations span transactions from 2003 to 2019. Notably, under the former Biden government, mortgage rates for American homebuyers surged to their highest levels in several decades.
FHFA Director William Pulte stated, “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.” He added, “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.”
President Donald J. Trump commented on Truth Social, “Adam Schiff said that his primary residence was in MARYLAND to get a cheaper mortgage and rip off America, when he must LIVE in CALIFORNIA because he was a Congressman from CALIFORNIA. I always knew Adam Schiff was a Crook. The FRAUD began with the refinance of his Maryland property on February 6, 2009, and continued through multiple transactions until the Maryland property was correctly designated as a second home on October 13, 2020.”
Fannie Mae financial crimes investigators accused Schiff of engaging in “a sustained pattern of possible occupancy misrepresentation” in five different loans. Trump added, “Mortgage Fraud is very serious, and CROOKED Adam Schiff (now a Senator) needs to be brought to justice.”
The National Pulse reported in April that New York Attorney General Letitia James, a key figure in Democratic Party lawfare efforts against President Trump, could face jail time stemming from allegations she engaged in multiple instances of mortgage fraud and falsification of records. Meanwhile, Schiff has also been accused by the DOJ Inspector General (IG) of having leaked classified materials to the media to push the Russia hoax narrative against Trump during his first term in office.
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