As we’ve reported, Donald Trump fired Federal Reserve Board Governor Lisa Cook on Monday, arguing that recent criminal referrals against her for alleged mortgage fraud gave him the “cause” required for such an action. She has not directly denied the charges, but has said that the president has “no authority” to jettison her and that she’s filing suit.
But now the man who made the first criminal referral, Federal Housing Finance Agency Director Bill Pulte, announced Thursday night that he’s filed another referral, this one regarding a third property that she may have misled the government about.
He posted the news to X:
3 strikes and you’re out.
— Pulte (@pulte) August 29, 2025
Today, U.S. Federal Housing sent a 2nd Criminal Referral in the matter of Lisa D. Cook, related to a mortgage on a 3rd property and alleged misrepresentations about her properties to the United States Government during her time as Governor of the… pic.twitter.com/TAH68Mia23
Today, U.S. Federal Housing sent a 2nd Criminal Referral in the matter of Lisa D. Cook, related to a mortgage on a 3rd property and alleged misrepresentations about her properties to the United States Government during her time as Governor of the Federal Reserve.
The post is long, but in sum, he alleges that she was untruthful about a property in Cambridge, Massachusetts:
Pulte on Thursday said that in April 2021, “Cook entered a 15-year mortgage for a condominium in [Cambridge], representing it as her ‘Second Home.’ ”
“Only eight months later, on December 1, 2021, Cook signed an ethics form with the U.S. Government that this property was an ‘investment/rental property,’ ” Pulte wrote.
But “in subsequent filings from 2022 to 2025, Cook consistently listed this property as an investment/rental property, not a second home,” he wrote.
“Representing the property as a second home may have allowed Cook to secure a lower ‘Second Home’ mortgage down payment and rates, as investment properties typically carry higher down payments and higher rates due to increased risk,” Pulte wrote.
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As we’ve reported, Cook was already under investigation regarding two other properties:
The DOJ is investigating whether in 2021 she misrepresented two properties as her primary residence within weeks of each other. That’s a no-no. RedState's Bonchie wrote:
The criminal referral in question accused Cook of claiming her primary residence in Michigan on mortgage documents, only to turn around and do the same thing with a different property in Georgia just a month later. As the letter [firing her] notes, it seems improbable that such a thing could be done unknowingly.
In court filings Thursday, Cook’s lawyers admitted there may have been an “unintentional clerical error” in her filings. They didn’t say if they had a bridge to sell you.
Breaking News: Lisa Cook confessed “errors;” claims its clerical but still an error!
— Pulte (@pulte) August 28, 2025
The matter has brought all sorts of opinions on whether the president is legally allowed to fire a Federal Reserve Governor—it’s never been done before—and if so, whether these fraud allegations are enough to reach the level of “cause.” After all, they’re allegations, not convictions.
As I wrote Wednesday, the issue is complicated:
The Fed acts as an independent agency, but that doesn’t mean the Executive Branch has no role. According to their website, the Board is run by seven members, or "governors" serving staggered 14-year terms, who are nominated by the president and confirmed by the Senate. The Federal Reserve Act of 1913 says that a president can fire a member of the Federal Reserve Board—but only “for cause.”
“Cause” has never been precisely defined, and legal experts are divided over whether Trump’s move will survive legal challenges.
A hearing is scheduled for Friday in a D.C. federal court on Cook’s request for a restraining order.
Whatever the outcome of the legal maneuvering, the ongoing revelations about Lisa Cook continue to add up—and until she persuasively denies them, with evidence, storm clouds will continue to grow over her reputation.
Editor’s Note: Help us continue to report the truth about corrupt Democrat politicians.
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