So, here’s something you’re probably not hearing much about on the nightly news. Sen. Adam Schiff is now under criminal investigation for mortgage fraud. This is from a source inside the Trump administration.
Laura Ingraham dropped the news during her Tuesday night broadcast on The Ingraham Angle. According to her, a source told Fox News that the U.S. Attorney’s Office in Maryland is leading the investigation. The focus? Possible charges involving mortgage fraud.
This investigation isn’t coming out of nowhere. Just a month ago, there was already buzz about the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, sending a criminal referral to the Department of Justice. The claim was that Schiff may have “in multiple instances, falsified bank documents and property records to acquire more favorable loan terms.”
Back in 2011, Schiff signed an affidavit saying a home in Montgomery County, Maryland, was his primary residence. But here’s where things get weird. Schiff also owns a condo in Burbank, California, and as recently as 2023, while running for Senate, he was calling that one his primary residence, too.
What is it with Democrats and mortgage fraud? Letitia James, Big Letitia, who threw a load of lawfare at Donald Trump in an effort to help the Democrats stop Trump from running in 2024, is also under investigation for mortgage fraud for multiple criminal actions.
Then there’s this: In May, the head of the UFHFA sent a letter to Attorney General Pam Bondi and Deputy AG Todd Blanche laying out what they think Schiff has been up to.
VISIT OUR YOUTUBE CHANNEL“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,” the letter from FHFA Director William Pulte stated. 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.”
And yes, it gets worse.
Pulte got a memo from Fannie Mae’s financial crimes investigators. They say Schiff may have engaged in “a sustained pattern of possible occupancy misrepresentation” across five Fannie Mae loans. That shows a pattern of criminality.
The timeline starts in 2003 when Schiff and his wife bought the Maryland home for $870,000. They took out a $610,000 Fannie Mae-backed mortgage at 5.625% over 30 years. They told the bank it was their primary home.
They repeated that same story in refinancing documents in 2009, 2011, 2012, and 2013. But remember, he was already a California congressman.
Fox News says they got a copy of that 2011 affidavit. Schiff personally signed that the Maryland house was his primary residence.
It wasn’t until 2020, Pulte says, that the Schiffs finally listed the Maryland home as their secondary residence.
Meanwhile, Schiff was getting a tax exemption in California. He claimed the Burbank condo as his primary residence, which got him a $7,000 discount off the usual 1% property tax.
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And then in 2023, a spokesperson for Schiff told the press, “Adam’s primary residence is Burbank, California, and will remain so when he wins the Senate seat.”
The FHFA letter argues that Schiff’s alleged behavior may break several federal criminal laws. These include wire fraud, mail fraud, bank fraud, and making false statements to financial institutions.
Schiff “appears to have falsified records in order to receive favorable loan terms, and also appears to have been aware of the financial benefits of a primary residence mortgage when compared to a secondary residence mortgage,” Pulte wrote.
Now, if you’re thinking that sounds like a whole lot of legal hair-splitting, think again. This stuff matters. The feds aren’t playing around.
When CNN pressed a spokesperson for Schiff on this in 2023, they responded, “Adam’s California and Maryland addresses have been listed as primary residences for loan purposes because they are both occupied throughout the year and to distinguish them from a vacation property.”
Right. Because vacation homes are where the trouble starts?
The letter reminds us that last year, a jury convicted Marilyn Mosby, who was Baltimore’s State’s Attorney, of making false statements on a mortgage application.
So this isn’t theoretical. People are getting convicted for this kind of thing.
Let’s see what happens next. You probably won’t hear much about this on CNN or MSNBC. But the paperwork doesn’t lie. And this time, it’s pointing directly at Adam Schiff. It couldn’t happen to a nicer guy. 🙄
#adamschiff #mortgagefraud #dojinvestigation
