Posted on 09/02/2025 7:11:22 AM PDT by Red Badger
Guest post by Robert Bowes
Will Too Late Jay Powell allow an illegitimate Fed meeting September 16-17, 2025?
Cook’s false occupancy statements on mortgage applications are confirmed by her numerous errors and omissions in her signed U.S. Office of Government Ethics financial filings.
But wait, there’s more. Did Cook exploit regulatory lapses at a free-wheeling DC credit union where they ignored risks and gave her two low-interest rate mortgages?
Cook likely could not have tricked the underwriting systems at major banks, Fannie Mae, and Freddie Mac, but was approved for two first mortgages from Bank-Fund Staff Federal Credit Union (“BFSFCU”), where she was somehow admitted by BFSFCU as a member even though she has no known affinity to meet eligibility.
Cook made false statements on two mortgage applications that BFSFCU overlooked and closed the two mortgages as primary or secondary residences in Atlanta, GA, and Cambridge, MA, when instead the loans should have been properly disclosed as riskier, higher down payment, and higher rate and fee rental properties.
Cook already had a primary residence and a first mortgage prior to being let into BFSFCU.
Cook later listed on her OGE filings that she had an Ann Arbor property mortgage originated by Members First Mortgage, a State credit union affiliate.
Bank-Fund Staff Federal Credit Union in Washington, D.C., is a community – and employer-based membership credit union with $6.5 billion in assets and over 100,000 members.
Eligible members are employees and families of the World Bank and International Monetary Fund, with one exception: membership is open to citizens from terrorist countries on the U.S. Treasury list of sanctioned enemies of America.
How is she eligible for BFSFCU, and why did she slide into their DC offices?
Cook is not an employee of the World Bank or the IMF.
One would think that the Senate confirmation process would have rejected her if she were a citizen from a sanctioned terrorist nation, but those who vetted her for her Fed nomination, confirmed on May 10, 2024, completely overlooked her mortgage false statements and false financial reports.
Is BFSFCU violating laws that limit credit union membership to “well-defined local communities” in the Credit Union Membership Access Act that require “interaction and/or shared common interests”?
Does Lisa Cook have a common interest with those from terrorist nations? Or did BFSFCU violate the law by going well beyond the Single Political Jurisdiction conditions in the Field of Membership rules for credit unions by claiming DC is in the same neighborhood as Atlanta, Boston, and Mogadishu?
BFSFCU states it has over 100,000 members, yet the number of employees is approximately 13,000 at World Bank and under 4,000 at the IMF.
In late 2022, Cook was given a BFSFCU mortgage of $540,000 for her Four Seasons Atlanta hotel condo and $361,000 for her Cambridge condo with interest rates of 2.5% and 3.125% in what could have been special arrangements because of her position then in the Fed system.
Today, mortgage rates are between 6% and 7% while Cook opposes lower mortgage rates for everyone else.
Then there is the issue of how she misrepresented to BFSFCU that her mortgages would be used to fund primary or second homes and not investment properties.
If the loans were properly declared as investment properties, BFSFCU would be limited to only 12% of its total assets to be in investment/business loans.
Did BFSFCU act in collusion to conceal the true use of mortgage proceeds to skirt the concentration limit when they could have easily seen in Cook’s credit reports that she already had primary residences in Ann Arbor? Cook has recently assiduously avoided disclosing where she lives. Did BFSFCU even ask?
The 2008 Mortgage crisis was in part fueled by mortgage fraud and occupancy fraud in a manner that Congress later passed the Dodd-Frank Act to tighten ability to repay rules and to address the subprime mortgage fiasco.
Yet credit unions were excepted from the safety and soundness mortgage rules affecting down payments, exempt from predatory lending or ability to pay rules, and are exempt from issuing only safe Qualified Mortgages that are required of fully regulated banks, Fannie Mae, and Freddie Mac.
Cook has no mortgage with banks and only deals with credit unions and seems to have exploited the weak regulatory scheme of credit unions, where they might not look to see if she has misreported the number of her mortgages or that she lied about the occupancy.
President Trump again properly executed his Constitutional responsibilities by firing DEI hire Cook last week because she committed the exact fraud she is charged with regulating. Cook also failed at ensuring the safety and soundness of the US banking, credit, and financial system.
Robert Bowes is a financial institutions, housing finance, and insurance expert appointee of President Trump.
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In late 2022, Cook was given a BFSFCU mortgage of $540,000 for her Four Seasons Atlanta hotel condo and $361,000 for her Cambridge condo with interest rates of 2.5% and 3.125% in what could have been special arrangements because of her position then in the Fed system.Today, mortgage rates are between 6% and 7% while Cook opposes lower mortgage rates for everyone else.
She should have stayed down at the Pancake Shack.
These fraudulent real estate transactions are rampant, it’s how these lefties get paid off and profit from “the system”.
“Cook opposes lower mortgage rates for everyone else.”
I suspect she favors lower interest rates to screw older white folks that supply banks with most of their money.
She has broken multiple laws, and it's not "just fudging" .
she and the BFSFCU are criminals,
and should be indicted for their crimes.
Who on earth thought to make THIS exception to a US bank's membership rules?
“In late 2022, Cook was given a BFSFCU mortgage of $540,000 for her Four Seasons Atlanta hotel condo and $361,000 for her Cambridge condo with interest rates of 2.5% and 3.125% in what could have been special arrangements because of her position then in the Fed system.”
compare to:
If you’d like a high-level credit union job, you know where to send your resume.
action.com
Cook has third “home:”
The latest complaint alleges Cook took out a mortgage agreement on a condominium in Cambridge, Massachusetts for $361,000, claiming that the property was a “second home.”
Pulte alleges that eight months later, however, Cook declared that she had earned between $15,000-$50,000 in rental income and declared it an investment property.Cook’s attorneys did not immediately respond to requests for comment.
The Federal Reserve declined to comment.
Agreed. Unemployment should be the least of her worries.
Sigh. Another grifting, thieving negro.
Folks here are so unfair.
Black women do not have to fill out forms correctly.
That is “acting white”.
(Her defense lawyer will probably try this....)
She is needed there to close her eyes to all others former slaves to get cheap mortgages
There is no way in the world a judge in DC, appointed by Biden, would ever find her guilty.
If that judge found her guilty, the judge would be ostracized by her social and professional circle. The judge would also be harassed and doxxed, and forfeit any higher future professional position.
There is zero, and I mean ZERO, chance she will be found guilty.
Not surprising. DEI.
character, honesty and integrity are NOT requirements to serve on the Fed!
“Four Seasons Atlanta hotel condo “
Will Fat Fanny prosecute her? NO!
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