Click here: to donate by Credit Card
Or here: to donate by PayPal
Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794
Thank you very much and God bless you.
Posted on 08/26/2025 1:16:47 PM PDT by E. Pluribus Unum
The result, legal experts say, is an escalation in the way Trump officials seek to penalize, remove or even jail adversaries.
President Donald Trump’s move to fire Federal Reserve governor Lisa Cook on Monday was the latest illustration of his administration’s surprising new weapon against its enemies: their own mortgages.
Trump and other officials raised allegations of mortgage fraud last week against Cook, a prominent economist put on the Fed board by President Joe Biden. The Justice Department is investigating the claims now, and Trump says the allegations alone are enough for him to push her out of her seat. Additionally, the Justice Department received a criminal referral over the real estate records of New York Attorney General Letitia James, who has filed multiple lawsuits against both Trump administrations. And in July, Trump publicly accused Sen. Adam Schiff (D-California) — who led impeachment proceedings against the president as a House member — of mortgage fraud.
The result, legal experts say, is an escalation in the way Trump officials seek to penalize, remove or even jail adversaries. After referrals from the Federal Housing Finance Agency, a relatively small department run by a close Trump ally that oversees the mortgage market, all three individuals now face criminal probes from the Justice Department.
Adam Levitin, an expert in financial regulation and consumer protection at Georgetown Law School, said people who commit mortgage fraud should be held accountable. But those investigations would typically be brought by the FHFA’s inspector general, not the agency chief. Before Trump acted to remove Cook, Levitin said the administration’s moves represented an “extraordinary abuse of FHFA’s power.”
“This is like the county sheriff who has his deputies pull over his political opponents every time they drive on the parkway,” Levitin said.
Trump disputed Tuesday...
(Excerpt) Read more at washingtonpost.com ...
|
|
Click here: to donate by Credit Card Or here: to donate by PayPal Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794 Thank you very much and God bless you. |
It’s either a crime or it isn’t. If an ordinary guy like me could be charged with such a crime why shouldn’t they?
She’s never worked at a bank.
Maybe she didn’t know you can’t claim two primary residences for mortgage purposes.
Seriously.
Her entire career has been one long DEI hayride.
Certainly a lot more legitimate than the Democrats way.
Pay no attention to the law-breaking, Rachel, you Dramacrat propagandist POS.
No one is above the law. I’m sure the powerful and connected get deals none of us would.
What goes around comes around, eh?................
They can all thank Tish.
Republicans pounce!
I thought that no one was above the law, but clearly they meant Republicans.
From Gemini,
Fannie Mae Defines a Primary Residence
For a property to be classified as a primary residence, Fannie Mae stipulates that the homeowner must occupy the dwelling for the majority of the year. This designation is crucial as it often influences loan eligibility, interest rates, and down payment requirements.
At its core, the definition hinges on the borrower’s intent to make the house their principal home. Several key factors are used to determine this status:
Occupancy Requirements: A borrower is typically required to move into the property within 60 days of closing and live there for at least one full year. This demonstrates the intent to establish the property as their main residence.
Verification of Occupancy: Fannie Mae and lenders may verify a property’s status as a primary residence through various documents, including:
* Utility bills in the borrower’s name for the subject property.
* Tax returns showing the property address as the borrower’s residence.
* Voter registration card.
* Driver’s license or other government-issued identification with the property’s address.
Distinction from Other Property Types: It is essential to differentiate a primary residence from a second home or an investment property. A second home is a property that the borrower occupies for a portion of the year, in addition to their primary residence. An investment property is owned by the borrower but not occupied by them, and is typically used to generate rental income. The financing terms for second homes and investment properties are often less favorable than those for a primary residence.
Special Circumstances: Fannie Mae does have provisions for certain situations where the owner may not physically reside in the property but it can still be considered a primary residence. These exceptions often apply to:
* Parents purchasing a home for a disabled child: If the child is unable to work or qualify for a mortgage on their own, the parent is considered the owner-occupant.
* Children purchasing a home for elderly parents: Similar to the above, if the parents cannot qualify for a mortgage, the child is considered the owner-occupant.
In summary, Fannie Mae’s definition of a primary residence is centered on the demonstrated and documented intent of the borrower to live in the property as their main home for the majority of the year. This status is a cornerstone of their lending guidelines and directly impacts the terms of the mortgage.
Mortgage fraud is like driving on the parkway, sez Dramacrat propagandist Rachel Siegel. Everybody does it, well, the criminalCrats do it.
I’m ok with it.
They can take it to appeals court.....likTrump was forced to do..
“The Trump administration’s new weapon against foes: Mortgage filings”
Gee, I wonder where they learned that from!
Rachel Siegel - Education: Yale University, BA in History
They skipped “Obeying The Law 101” at Yale.
To borrow a phrase from a former president, It depends on what the meaning of “Primary” is?
There, fixed it.
Democrats dont like their own shenanigans being used against them.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.