Posted on 04/20/2025 3:07:41 PM PDT by T Ruth
New York Attorney General Letitia James didn’t just misclassify her five-unit Brooklyn brownstone as a “4-family dwelling” on mortgage documents. As we’ve previously reported, this distinction is not trivial—properties with five or more units are considered commercial and subject to stricter lending rules. But our latest investigation reveals something even more troubling: on multiple occasions, James described the property as a “1-family,” “1–2 family,” or even “1–3 family” dwelling—designations that offer even greater mortgage advantages than the 4-family classification, including lower interest rates, reduced reserve requirements, and easier approval thresholds.
This isn’t a minor paperwork discrepancy. Five-unit buildings are classified as commercial properties under federal lending guidelines, subject to stricter underwriting standards, higher down payments, and less favorable terms. By repeatedly downgrading the unit count—sometimes to as low as a single-family home—James may have accessed residential mortgage products exclusively designed for primary residences with substantially more favorable terms.
The official Certificate of Occupancy for 296 Lafayette Avenue clearly and explicitly states “Five (5) Family Dwelling” in all capital letters. This official document, dated January 26, 2001, establishes the legal occupancy status of the building: View Certificate of Occupancy
Yet just two months after that Certificate of Occupancy was issued, James signed mortgage documents describing the property as a “One or Two Family” dwelling—the most aggressive misclassification possible, delivering the greatest mortgage advantages under residential lending programs.
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(Excerpt) Read more at whitecollarfraud.com ...
Hey FBI, when’s the 6am raid and have you tipped off CNN yet?
Please wake me up when she’s charged and arrested....
Otherwise, it’s just another example of two tier justice for democraticts!
Why the hell are they called democraticts?
Change the style guide back to Democrat, so we can call the rats!
“Please wake me up when she’s charged and arrested....”
************
You can go back to sleep. Republicans are just not into the accountability thing.
heads up.
mo on letie
must be long. not opening for me
Tipping off CNN would lead to tipping off the perp. Instead top off Steve Bannon. 🙂👍
Anybody else, this would have been blown up into a major scandal and Democrats themselves would be calling for her head. Robert Menendez got jailed for probably a lot less “leveraging” of assets.
There is no prepayment penalty on single family. So she refinanced constantly and reducing the unit number would have exempted her from prepayment penalities. No mention in the articles.
I double-checked. All I can say is it opens for me.
Good point.
I’ve never heard of a ‘democratict’. Is that a new thing?
Well….. when you’re the size of some of these black, democrat women, building occupancy takes on a different meaning!
Letitia was a busy little gremlin
“James described the property as a “1-family,” “1–2 family,” or even “1–3 family” dwelling—designations that offer even greater mortgage advantages than the 4-family classification, including lower interest rates, reduced reserve requirements, and easier approval thresholds”
Was the beotch paying off the appraisers as well? They should have caught the discrepancy resulting in denied loans. Certainly a Nanny State like New York must require them?
Tishy.....you in trouble, girl.
Democrats don’t have to follow the laws they don’t like. Everyone knows that.
here’s more from author, sam antar posted today:
NY Daily News attempts to shield AG Letitia James from accountability
Response to NY Daily News Editorial on AG Letitia James
AG Letitia James and the law: What’s good for thee is not for me
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