I’m absolutely begging reporters to stop suggesting that Lisa Cook stated that she would use both properties as a principal residence on her mortgage APPLICATIONS Mortgage APPLICATIONS and mortgage AGREEMENTS are not the same thing We have no idea what she represented on the APPLICATIONS
Anyone who believes a single word coming from this regime is a damn fool. And the point of the attack is clearly to destroy the independence of the Fed.
Journalists used to be interested in facts. They used to research things to the core in an effort to have the information they wrote about be indisputable. Now they just write for clicks, and hope for forgiveness later.
The business model for journalists fell apart due to the internet. Editors have been eliminated. The first to publish gets the most hits. Many self-described journalists never went to J school. We readers have to work a lot harder to get the facts.
Journalistic standards have fallen and they can't get up.
Are we suppose to go back to prior mortgages and amend them if we have to move for our job and buy another home which then becomes the primary residence - maybe before selling the other one? I'm asking because it seems like that would be a common scenario.
We have no idea what she stated on any document. Only unsubstantiated claims by an administration that lies as often as they breathe.
Aha. A distinction I was not aware of. 👍
You are correct. Remember tho saying a home will be your principal residence means you will not rent it out. That means you are not an "investor owner" that pays a higher interest rate. People do have homes they live in part of the year and both are their residence.
No, this is not correct
They will do anything, say anything to justify the actions of dear leader.
If this was a true mortgage fraud case then she would have been charged with it. This administration is allowed to make accusations against anyone, for anything to harass, intimidate, and discredit without any repercussions.
They expect everyone else to cave to accusations and insinuations. But what do Republicans do even in the face of proven lawbreaking? It isn’t what they expect everyone else to do.
It's abhorrent that media is focusing so much attention on what she might have done wrong before charges have even been filed, instead of all the corrupt BS that's coming out of this administration. Tariffs, economy shrinking, military deployment in US, oh and that other thing... Epstein files.
There's quite a bit of complexity in this area. Difference between principal and primary residence. I've read it's possible to own multiple homes where you reside at each for a period of time during each year, and that residence can become a principal residence.
...residence. If the loans were performing there is no normal reason to investigate, unless as part of a normal quality control process which by definition is supposed to be a random sample.
There is also a question of whether an underwritten loan conferred a rate or other T&C benefit to the borrower. In that case one looks at comparable market conditions. If you know the industry, there are normal variances to benchmarking.
Lisa Cook deserves to have her day in court.
Dr Cook deserves the benefit of the doubt
Sounds like getting in the weeds to defend from a vindictive lawsuit.
No one seems to respect THE FACT that Trump's entire organization was held to be fraudulent.
It would be nice if reporters just returned to gathering and reporting the news without fear or favor!
They need to look into Ken and Angela Paxton’s 3 mortgages—all claimed to be their principal residence. But. They. Won’t. 🤬
💯💯💯💯💯 It's up to the LENDER to make sure the correct boxes are all checked and information is verified. I know, I used to investigate mortgage fraud.
You mean the lender is supposed to exercise (egad!) *due diligence?* Whatever is this world coming to? 😳
It's an alien concept to most but when they do discover it, they try to stamp it out.
Furthermore, it IS POSSIBLE to have two primary residences, like where you live in one city, but work five days a week in another, or when you split time between two residences.
i really don't want to hear a word about lisa cook's mortgages unless it's followed up by ken paxton's mortgages at MINIMUM
Especially coming from the guy who does it every day 🤮
And it's not mortgage fraud to buy a house as your PR, live it in for a few years, buy a new house as your PR then convert the original to a rental. I think you have to agree to remain as PR usually 12 or 24 months?
The purchase closed two weeks after the refinance closing
Well that's not a helpful detail!
It certainly makes the issue more complicated
Also it's perfectly legal to have multiple principal residences. It's not even an allegation of wrongdoing.
Incorrect
VERY IMPORTANT DISTINCTION!
Just like you can claim 16 dependents on your withholding but when you file taxes you claim just yourself
If I buy a house and use it for my primary, then I buy a second house intending to use it for my primary, an I obligated to amend the information submitted to secure the first loan?
If you do it in the first year you do have an obligation to work it out with the lender and/or refinance
It’s an underwriters responsibility to check status on loan applications, which are typically completed by lender then modified during the process and ultimately signed by the borrowers. If there are two ‘primary’ residences, the underwriter typically requests clarification in writing
Exactly!
Why would that make a difference in terms of the underlying allegation of fraud? (Are you suggesting that if she represented correctly on the application, then there is no center since the bank would be aware?)
Because nobody rational would ever treat this administration as acting in good faith. They just lied
*scienter (🤬 autocorrect)
If you didn’t have a discrepancy between what’s on the application and the agreement, what would your predication be for opening an FI?
Has everyone forgotten about Mark Meadows? Not sure what mortgage exemptions he claimed. www.forbes.com/sites/annaka...
Funny. I actually had forgotten all about Mark Meadows.
Just thinking of plain language. What is someone's principle or primary residence if like a member of congress they have a home in DC in which they live during all sessions and a home in their district in which their family lives? Could Ms. Cook also had a multi residential situation?
"Principal" there, not "principle".
That’s kinda what they’re trying to get Schiff on. His CA residence was his primary residence when he was running for election and now his DC (or MD) residence is his primary residence and he will move back to CA before he runs again if he runs again. Not sure about Cooks situation
This is a blank app. It’s not her application. Huh?
It’s on every application for a loan sold to a GSE.
Lisa Cook's loans were from credit unions, not a GSE.
GSEs don’t make loans. They buy them. Pulte is their regulator.
Pulte is the director of the FHFA but he doesn't do much regulating as much as he does muck racking.
I was trying to point out that since the loans came from a credit union and they were not sold to Freddie Mac, you can't assume those forms were used.
Maybe read some of the comments. Have her applications and agreements been made public? Or are journalists regurgitating accusations from demonstrated liars?
The security instrument containing the occupancy clause is public.
"Autocorrupt" is what I call it.
Yes, exactly this. If the lender made an error in preparing the loan docs she made a mistake in signing the agreement, but her representations were accurate. It would mean she’d been technically in default for the first 12 months, but default isn’t fraud
The application may also contain information that could make her eligible for an exception to standard occupancy requirements
There is only 1, buying for a family member. That's what I thought she did on the ATL prop since she has family there.
I didn’t realize the GA connection before, it makes the ‘Children wanting to provide housing for parents’ guideline quite possible
That was the first thing I thought of when this stupid ass shit popped up. And no one seemed to remember that GL among the Rs and I know Bill Pulte didn't know it. The whole thing is ridiculous.
I mostly leaned toward “what did she actually apply for?” because they kept pointing to the mortgage agreements. I still do to some extent, but this adds another wrinkle
Mostly I lean toward “these people are transparent liars, so I don’t trust anything they say”
Very true
There are a few reasons. For 1014 the statement has to be knowingly false and made for the purpose of influencing the lender. If she provided accurate info on application (used to assess the rate) that suggests she wasn’t misrepresenting her occupancy on the instrument in order to get better rate.
Journalists shouldn't take the slanderous bait. Instead, focus on how wild it is to use a twitter rumor about financing a home in 2021 as an excuse to fire a black Fed Governor FOR CAUSE, when she is a qualified, accomplished professional who hasn't been allowed to defend herself.
Beyond the criminal liability question, I think it’s just bad journalism for reporters to assert or imply that these representations were made outright on the application—we don’t know that. All we know is that she signed a contract containing a standard occupancy clause w/ conditional language.
How did Pulte get her application and agreement?
It’s likely that any mortgage paperwork discrepancy was created by the mortgage company when they processed the documents. Pulte’s public disclosure of confidential agreement documents is a crime. She should sue him.
If her lawyers push this angle I bet the government will eventually say that the “unitary executive” privilege applies to other officials “following orders”
I wonder if DOGE was involved. I also wonder if these are the people we know about, which public figures are they blackmailing privately?
This is starting to piss me off 🤬
Ken paxton caught red handed doing worse and yet pulte not referring to doj.
I don’t know that he has her applications. His criminal referrals (as well as Trump’s statements and DOJ’s court filings) appear to refer exclusively to the mortgage instruments/agreements, which are public records.
Fannie/Freddie have the complete loan files, and he has personal dominion over both companies. He is almost certainly telling their fraud units to pull files for various targets and asking them to review. No shadowy Palantir/AI tools needed for this, just garden variety Nixonian abuse of power.
Friendly advice to anyone covering this story is to read up a bit about how FHFA and the conservatorships actually function, legally. FHFA Director can be astonishingly powerful if they choose to be.
What he posted online was nothing more than signature blocks.
@annabower.bsky.social , you do the Lord's work.
When is he going to criminally refer paxton for his mortgage app shenanigans?
And when media outlets refer to their review of “mortgage documents,” they are almost certainly referring to the publicly available mortgage *instruments/agreements*. Anyone can easily locate those in state property records databases—but not the mortgage *applications,* which aren’t public records.
One thing to realize is that you can take out a mortgage as primary Buy another house and as a primary And it has NO Effect On the original loan Primary is at origination of loan only Same for FICO Score and LTV Etc…
Who is the victim when banks dont do their due diligence? 🤔
Yo mamma
Mortgage applications contain personally identifiable information and would not be public. These stunts are more instances where the MAGAts think they've got evidence but it just turns out they don't know how anything works. Fucking idiots.
I retired from banking and worked in operations. Banks are just about constantly under some kind of audit of review by the state and feds. If there were problems with applications such as easily identifiable fraud, they would have already been flagged/addressed. This is pure bullshit.
*audit or review
Very interesting
I presume if we have the mortgage instruments we have the addresses, yeah? I would imagine you can use process of elimination to identify her application data on the national HMDA LAR published by the CFPB. I’ve done that a couple times before. But still wouldn’t know if an MLO said to do it.
Thank god Yates is healthy again.
Media outlets are notoriously lazy in their coverage
Apparently, only Trump and his cronies are allowed to blatantly lie, cheat, steal, abuse and grift. *not suggesting Cook did any of those things.
Now look at Josh Hawley. www.columbiamissourian.com/opinion/gues...
bsky.app/profile/niti...
Which should not have information like what her primary residence is. And an agreement between the buyer and seller is not public either. The deed of sale is.
If it's through FinCEN, we should be very, very alarmed.
Does it matter? I hate that this is happening but I think great effort is being wasted. The problem is the Unitary Executive's ability to turn what might be a clerical error into "cause". POTUS creates the liability which is, in this specific context, undefensible. It's crazy. It's happening.
Until SCOTUS limits POTUS' authority we are all screwed.
What I wanna know is, it’s rich that DJT is accusing her of mortgage issues and propping up values to get preferential treatment on loans…same crap he did and even his valuation of size of his apartment…grossly over valued. So what gives…
By nefarious means, I would posture.
DOGE Bros is my guess
That’s the right question I haven’t heard enough people ask. I always thought it was illegal to access mortgage info due to very very strict privacy laws…add Pulte’s name to the the very long list of ‘admin’ officials who needed to be eventually investigated/prosecuted.
I'm reading a number of sources that say mortgage documents are public.
The mortgage “instruments” (agreements) are public. The mortgage applications are not.
Thank you, Anna. And thanks for all the great coverage of all these legal cases. If the applications are private how did these get released? Who is liable?
I’d love to see someone dig up some dirt on Pulte.
More dirt on Pile of sh*t PULTE than her!! So PULTE just randomly planned to fire the only black woman on the FEDERAL RESERVES? KKK PRESIDENCY
DOGE
I used to process mortgages & close them. If someone owns a primary residence already & is buying a new home as their primary residence we always required documentation at closing about the 1st primary residence being sold or possibly converted to a rental.
The first home's status may not change for the existing mortgage. You do have to change the status when paying the property taxes. There are some exceptions about primary residence status, too. themortgagereports.com/29744/mortga...
What no one's talking about is the violation of the FINANCIAL PRIVACY ACT! Bill Pulte as chair of FNMA and FHLMC apparently conducted a fishing expedition into the loan records of Dumpty enemies (and probably friends). The absolute irony is that Dumpty has been convicted of lying to his lenders.
Key Provisions of financial privacy act: Customer Consent: Govt agcies get cust consent before accessing financial records. Notification: Cust must be notified before their records are disclosed & allowed to challenge. Exceptions: Specific conditions-valid subpoena or search warrant.
So far at least the referrals seem to have relied on public records
(And, btw, what’s on the application def doesn’t settle the matter! She could’ve been eligible to apply for primary residence on both applications even if she didn’t intend to occupy the property as such. E.g., if she was purchasing the GA condo for a parent to live in.)
Thank you, and there is even more latitude between banks.
Less so for conforming loans
and also, whatever she wrote on any mortgage documents is irrelevant to her ability to do her Fed job ethically and competently. Not to mention she didn’t yet have the Fed job when she signed the documents. It’s frivolous in at least three distinct ways.
They did this same bullshit to BW Senator Angela Also Brooks & BW Marilyn Mosby. How convenient to try to bring them down w/ false "mortgage fraud" applications. Let's see all of ur documents 2.0 & GOP. Clerical errors are common in mortgage lending, as the applicant doesn't fill it out.
Also, now,some AI lending software won't let you pull a rate until you check certain boxes. Doesn't mean anything nefarious & she's allowed to have more than one primary residence for her own purposes. I do, in DC(w/ husband) & MD(w/ elderly parent). That's my business. Such disingenuous arguments 🙄
On one of our mortgages, there were errors in the original docs that were presented to us to sign. I caught it, and we signed corrected docs. But somehow that error-riddled original got reported to the credit reporting agencies, and the issue of conflicting information still bedevils us.
Happens all the time. More than people realize. It costly for title companies to go back & correct clerical errors. Most don't bother. One of my mortgages was never recorded. Then title company went outta business. So, I had to get title insurance to correct it. Pain in the ass but it happens.
Also, my understanding is that a person can, in some cases, designate a second primary home if their job requires them to be a distance away from their original primary home and they intend to keep it and occupy both at different times.
If I purchase a second home that I intend to make my primary, am I obligated to contact my first mortgage provider to advise them that this is no longer my primary residence?
Sometimes. Depends on your agreement.
I'd like to see preexisting relevant cases that would clarify how this type of case is normally handled. It bears noting Trump was a serial mortgage fraudster on a scale that dwarfs there allegations.
Or co-signing
I think someone said she cosigned for her daughter's home. Not sure where I saw it.
meanhwil, just icymi, the Texian AG has what seems to be his own paperwork issues... apnews.com/article/paxt...
Does this lady have 34 convictions for business fraud? Was she fined $25 million for running a fraudulent university? If not, I'd give her a break.
100%
Not bad journalism, it’s bullshit. CNBC is pro tiny shit pants
Agree. Bad journalism to imply anything without the facts.
Is this rate differential enough to bother misrepresenting on an application? I mean... she's a successful banker. You dont need to care much about rates when you can pay it off before the term is over.
This is "the headshot," no?
Can all reporters also include in every headline and story how highly unusual and inappropriate it is that this info is even in the hands of Pulte.
Yeah, def the bigger story but it’s more complicated to explain, and most media like trump, so this will be the focus instead.
Isn't the agreement generated by the bank, while the application was filled out by the applicant? So if the agreement says it was for a primary residence, that could just mean that a bank employee entered it that way.
The Uniform Residential Loan Application provides three provided three property classifications (at least from 2009 until 2020): Primary Residence; Secondary Residence; Investment. In addition, there is a separate, specific declaration whether the borrower "intend[s] to occupy the property ... 1/
as your primary residence?" BUT - and this is potentially a huge BUT - the form also says that if the borrower answers "Yes," they should complete the following question, which asks only whether the borrower has had an ownership interest in another property in the last three years and ... 2/
how title was held. On its face, then, the question about primary residence has no purpose other than to determine whether the borrower has recently owned other real property. Answering "Yes," then, results in *additional* disclosures by the borrower, rather than concealing information. ... 3/
Additionally, the question and follow-up would not signal to the average borrower that their answer was material to their loan terms. [I'm looking at a completed URLA from 2020. Curiously, although the intent-to-occupy question is answered "No," the follow-up question is also completed.] ... 4/
If I recall correctly, Ms. Singer was buying two homes in two cities where she was going to be working. It's fair to assume she was going to be commuting between the two places. I can imagine a loan officer saying, "Neither one is really a 'second' home, so let's check 'Primary Residence.'" /End
There is a big difference between "data she provided being false" and "information in a document from the bank that she did not specifically sign-off on being incorrect."
Trump is a 34x convicted felon. His hand-picked cabinet is destroying America. Enough already.
Is Twitter the usual way the government makes allegations of fraud or is there another process?
🎯‼️
Why are we speculating on allegations from people who lie all day, every day?
Off the top of my head I can immediately think of a few reasons the applications would both say primary. (My career was as an auditor/compliance officer for major lenders).
The applications are signed under penalties under 18 USC 1001. Notes secured by a mortgage make no representation as to occupancy; however the pricing/rates are based on representations in the application.
As I understand it, the Attorney General of Texas has 3 primary residences.
Canadian lender here. I’ve run into the misguided idea that a mortgage is a loan to obtain a home secured by that home. Sometimes? Yes. Always? No. A mortgage is a security agreement on any real property (land and buildings) to secure loans for various purposes. Maybe it’s different in the USA.
Die Wahrheit ist nicht mehr das Ziel, sondern das Klickziel.
Pulte probably does and he also probably the one behind much of this. #BoycottPulteHomes
Maybe reporters could actually do their job where they research, fact check, corroborate, fact check again, and provide only factual information they have confirmed themselves.
Every report about her being fired by Trump because of fraud should include something similar to, "Lisa Cook, fired by Trump, who himself received 34 felony convictions for fraud...."
That, plus mortgage agreements sometimes have riders that alter the terms
Yeah, finally saw that today (most of the reporting lacked full details)
Lender error still a possibility, but 🤷🏻♂️
But doesn’t Item 1 removes the issue of the primary residence? It states clearly this is a second home.
That’s what would have been there if it was a second home loan and docs were prepared correctly. As Suzanne points out, a rider wasn’t recorded
This form is the one you would expect to see if that were the case. They shared it as an example, but it was apparently NOT filed in this case.
Lender mistakenly gave me a 30 year rather than 15 year mortgage. Not one person noticed until after the fact. We had to go in and redo the mortgage. Unbelievable and everything is so complicated
Begging reporters to do any investigating of the facts these days would seem to be a lost cause. At least in MSM.
Clerical error and an accusation of fraud with intent are, Totally different animals..
Also, applications are often filled out by the loan officer, in a rush to close the business — “we always check this, this and this — now sign here, here and here.”
We don't even have a copy of the documents. The only copies are held by Trump. The same person that fired her. How do we know that they haven't been falsified? He was convicted for 35 felony fraud counts.
It is perfectly legal to get a loan on your primary residence, buy a second house and turn your first one into a rental, and on the second home mortgage declare that it is your primary residence. Because it is.
stooooooop. she was already under contract to purchase the GA home when her MI refinance closed. There's every reason to believe that she continued living in MI.
Can still be legal. Had an offer on Georgia, refinanced Michigan to buy Georgia. Rightfully said Michigan is primary residence at the refinance. Intention was to make Georgia Primary residence when the deal closed. Legally said Georgia WILLl be my primary residence.
If the intent was occupy GA then the answer about intending to occupy MI was knowing misrepresentation
at absolute minimum it would give the lender on the MI property the right to immediately call the note
You are being a little naive about this situation. MAGA has an opportunity to tear down a woman. A Black woman. There's no way they are going to let up on any aspect of the mortgage situation. There was a brief mention of Ken Paxton in Texas about the boxes checked on his mortgages. It faded away.
“In federal tax law you can only have one “primary residence” but mortgage law is not tax law and a “principal residence” is not a “primary residence”. @nathantankus.bsky.social www.crisesnotes.com/powell-will-...
To the extent there’s any difference between principal/primary it is irrelevant here
Not matter what, an allegation is not “cause”.
What about the Paxtons? I don’t see anyone up in arms about out their “primary residence”
Exactly.
I just know Clarence Thomas and Samuel Alito got to use the “I just forgot” excuse. So did Ben Carson, Jared Kushner, and Tom Price. Not to mention 182 senior Congressional staffers.
If reporters bring this up they should bring up the duplicity of Trump using this particular thing to call her out.
I just looked at an online mortgage application for. Nowhere does it ask if the home will be a primary residence.
I’m begging Americans to stop worrying about shit like this and wonder why they have a convicted criminal running their country
Take a look at any county’s assessments and you’ll see many many richies who rent out a 2nd or 3rd home but maintain a homestead exemption for same. for lower tax.
can we also beg them to point out an accusatory tweet is not a legal conviction and thus not cause for any goddamn thing ever
If I have thoughts and prayers going anywhere, they will be to that!!!!
☝🏼 ~ t h i s ~ ☝🏼
No shit.
Exactly! No one learned anything from the time Trump was peddling bs on Obama’s birth certificate. It was always a disgusting lie.
And, correct me if I’m wrong, but I don’t believe she was or has been charged with any crime in the matter.
Other than a distraction from the epstien files.
Would examination of her finances be a part of the strict confirmation process a Fed Governor undergoes? Would mortgages be a part of that process? If so, one would think this would have been found.
I think that if Dr. Cook, Adam Schiff, or Letitia James had truly committed mortgage fraud, charges would have been filed by now. DOJ has had enough time and they are high priority to Trump.
I’m pretty sure it was legal
And then there is the Trump fraud
He only applies this rule to the black woman. What about Paxton ?
www.independent.co.uk/news/world/a...
And has this issue been raised by a convicted felon?⛳
I believe he was convicted for lying on mortgage applications. But Republicans are in favor of Republicans committing crimes.
this is all absolute bullshit so I don't know why we are entertaining this.
I don't give a flying fig about the accusations of illegality of her actions. They came from a felon, after all.
All residential mortgages contain language that the property has to be used solely for residential purposes. That doesn’t mean it has to be your primary residence.
This is the question asked in a mortgage application. “Do you INTEND to occupy the property. Check the box -Yes or No. That’s it. It doesn’t say you MUST occupy the property it says INTEND. So at the time you could intend to occupy the property but then life happens and things change.
When she bought the second home, the Loan Officer would have seen the first mortgage on the credit pull and asked what she would be doing with the first property. Under the right circumstances (typically known as the "life happens" rule), it's perfectly normal.
This. There is no obligation to sell or refinance a property that has been a primary residence when purchasing another that you plan to occupy.
Nor do we know the time period between the purchase of the first house and the second.
What matters is the time between the most recent mortgage and the purchase of the second. It was two weeks.
For Fannie Mae loans, it's one yr from start of occupancy. Unless, there are extenuating circumstances, like moving because of change of job, health, etc. Proprietary loans depend on the lender rules.
Either way, closing a primary refinance while already under contract for another home you’re claiming as primary is (outside specific exceptions) going to be an issue
If that is the allegation (primary *refinance* while under contract for another), then that is a problem.
That’s the case for Cook
Assuming that's all correct (I did not double check), and it's a FNMA loan, then the only other excuse off the top of my head is the integrity of the lender representatives, especially if it was the same lender
Normal period is one year from start of occupancy. However, there might be extenuating circumstances, e.g., a new job in a different state. Typically, there will be a "letter of explanation" as part of the overall mortgage package.
Yes, we do. It has been reported as 3 weeks. Not a good thing.
This. I currently have two primary residence homes. My current home, and my previous, which im trying to sell after renting it out. I needed to get different insurance, but didn't need to get a new loan.
Yes. Insurance can be a thing when the use changes, a tax municipality may not allow a tax break on more than one property in a taxable area, and then there are how they are claimed on income taxes. None of these are mortgage fraud, however.
Also 'principal' isn't 'primary.'
This simply is not correct
Only problem, reportedly the two applications were within 3 weeks of each other. But she needs to have her day in court.
This is completely ordinary: if you buy a new home but haven't sold the old one yet, you may well have 2 mortgages both classed for primary residence for a period of months or longer.
Let’s all use a bell shaped curve here. 100% dirtbag mortgage fraud Ken Paxton 50% ? Anyone who applied to two banks to get lower rates. Where does Lisa Cook fall? She had a failing grade on scum. You go girl.
Your primary residence can change, not sure what is an issue.
Exactly this.
It matters here because the two loans closed within two weeks of reach other - she was already under contract for the purchase when the refinance closed
Report: Texas AG Ken Paxton claimed three homes as primary residence…😒😒😒😒😒
Have they seen the Paxtons property loan apps? Apparently they are worth discussing. Wonder if Cornyn will jump on that?
People have trouble with words.
We need to pulverize Pulte like we took down Tesla!
Given the president is a felon and has been criming for years with no accountability. I'm having trouble caring.
facts aren’t necessary anymore
I consider it all projection by tlTrump because it's what hes guilty of in Fla with MAL. We had this figured out years ago, now the media is running around with their thumbs up their butts, busy appeasing and excusing Donald Trump. WAKE UP!
It’s not even the point though. The point is she is being wrongfully terminated while a black woman
1. They’re lying about this 2. Don’t really give a shit even if she did 3. tRump is a pedophile 4. Pedophilia is a bigger deal than whatever bullshit scam they are trying to pull. I’ll listen to this government when they stop protecting pedophiles.
The fucking president is outright demanding AND GETTING bribes in exchange for favorable legislative outcomes. Blatant corruption at its most obvious. Something something "remove log from own eye before complaining of mote in neighbor's eye" something something...
He's gonna lose this one also.
All of this ignores the specific digging up of pseudo-dirt from government files. That part seem OK to do?
You can claim two homes as primary residence if relocating for a job and the lender obtains documents to support the relocation. Also can relocate and the former residence can be turned into a second residence. It can be hard to determine from public records, need to see the original mtg application
the two applications were under process at the same time
It should have been underwritten by one underwriter and occupancy is addressed. Lenders track other applications in process on the loan operating system/LOS.
two different lenders. in theory the normal checks still make the situation obvious to the underwriters, but it's definitely more complicated than someone relocating for work after some amount of time
I thought she was appointed for the new job around the time of the loans could be mistaken though. She might also work remotely would need to see docs.
appointed about 6 months later, confirmed nearly a year after there are guidelines that can make it not fraud even if she did apply for both as primary
Oh yes with two different lenders and they originated close together is tricky. Some systems can track loans by other lenders but I don't think all systems have that capacity. If the second lender didn't know about the first loan that would be an issue if both are primary residences.
they'd have seen both the initial inquiry and the new account on the pre-closing soft pull, so I can't see how they'd be completely unaware. it's an interesting exercise to figure out how this could have made it through without seeing the full details of the applications
Yes there would be a credit inquiry for the loans on the credit report. The first loan inquiry would be on the second loan credit report or the pull right before closing. Interesting would need to see both files and applications.
In the first scenario the former residence could be turned into investment ppty or a second residence. Need to see the application and supporting docs.
Lazy reporters, getting things wrong again and serving republican misinformation. Some things just never change.
bsky.app/profile/marc...
And I for one do not care, particularly with the bunch of crooks and liars in the White House!!’
Think of a visual comparison of Lisa Cook’s off-the-shelf mortgage loan paperwork compared to Clarence Thomas’ RV, fishing trips, tuition, plane rides, cruises. My, oh my, what a graphic. A molehill overwhelmed a mountain. Good lord, our thick skulls are protection not prevention of thought.
Theorizing ahead of their data. Do they even realize that they are presenting suppositions as fact?
💪 Lisa Cook 💪
Frankly, even if she did accidentally state 2 primary residences on an application, the fact that the president has himself committed actual fraud to secure hundreds of millions in real estate loans and barely been caught is sickening. Trying to harangue Cook but celebrate him is just disgusting.
Its sad that people even are forced to think about this when the guy who was actually in court for fraud in NYC is the President.
Doesn’t that just mean you aren’t going to rent it? You are the principal resident of both homes.
Ken Paxton would like a word
talkingpointsmemo.com/edblog/a-mag...
It’s all manufactured bs by the regime
Were both mortgage applications filled out in the same week? You can move from a house without selling it and move into a new house. The new house says “primary residence” on the mortgage paperwork, just like the old house did. It’s not fraud, unless not owning a Time Machine is a crime…
They don’t have to be signed the same week for there to be fraud In this case the timeline actually does make the issue difficult
Why and how? If she moved into each house with the intention of it being her primary residence it’s totally normal for people who don’t sell their previous house to have multiple homes that were listed as their primary home on the mortgage application.
she was already under contract for the purchase when she closed the refinance. there's no indication she moved into the GA property, and her work was in MI
Still don’t get the details here. So she refinanced her primary home, while it was her primary home, and just before buying a new primary home? The law says the president can fire her in very specific circumstances. Basically she needs to be corrupt or taking bribes on the job.
Don’t like it? Fine, change the law. But that’s what the law says. If they think she committed fraud they should prosecute her. Laws like this with long paper trails are generally pretty easy to prosecute if someone committed fraud. Ask 47, he has 34 felony convictions to prove it.
If they aren’t prosecuting her for this, there’s a reason: 1) They know they can’t actually convict, because she didn’t break the law, or 2) They tried and failed to get a grand jury to indict, because she didn’t break the law
Because they know in the secret part of what's left of their soul is that this has ZERO to do with WHY she's gone. She is a woman. Worse than that (to them), she is a woman of color. Period. That's why.
We also don't know what might have happened in her life between those times that may have changed her intentions. The most important factor in both of those transactions is that all the payments were made on time.
Also, who gives a shit?
None of this feels like "cause" as defined by the statute.
This, and: An entitled wealthy white man convicted of 34 felonies for fraud who then manufactures fraud allegations against a Black woman is the truest American story ever. It's still BS and we must not accept it #Resist #AbolishWhiteMaleSupremacy
My favorite part about this is how almost half of Americans do not own a home. This whole story is a slap in our faces... like look how many houses we get to own up here in the national spotlight of assholes that legislate ruining your lives. "How many houses do you own? None? screw you plebs! 🤣🖕"
Exactly
Our president is as adjudicated rapist and convicted felon and we’re splitting hairs over this shit?
Well TBC it’s the shit he’s spewing so he can rape the economy to make a lot of 💰.
Not even close to the real reason they’re harassing her.
Paxton much?
By the way, where does “dirt road scholar” Tommy Tuberville live?
How about Tommy Tuberville? Property records indicate that Tuberville lives in Santa Rosa Beach, Florida, instead of Auburn, Alabama, and has for almost two decades, despite his claim that he lives in Alabama. Floridians in the Panhandle know where he lives; apparently Alabamians do not!
Also this information is private.
What if she bought one house and was using it as a primary residence, and then decided to buy a house somewhere else and move into it as her primary residence. Then she wouldn’t have the conflict of having 2 mortgage application that listed 2 primary residence. I’m sure it happens all the time.
No, the timeline doesn’t work. She was under contract to buy the GA property when she refinanced the MI property. She also worked in MI
Exploiting ignorance 101… It’s how the turnip plays the LCD & wins by exhausting the fact checkers… And when you do you get; So what, he lies… he says “so does everyone else” Until you give up & tune out…
If I bought a house in OK. I would put primary residence on the app. Then, I got a job in DC, I would want to use that as my prime residence & put that on the app. I think that's fine with mortgage companies. I could only claim homestead tax on one property. They're causing unjust problems for her.
Sigh Take a few minutes to figure out what happened in this case
I could be wrong. It's been a while since I worked in a mortgage department.
She allegedly closed a primary refinance while already under contract to buy another primary
Oh, ok. I missed the part of the refinance. Hmm. Well, she has an excellent attorney. I still think it's very petty of Pulti.
I think petty is too polite a description for Pulte She doesn’t need to directly defend against the allegations at this point, which her atty has probably advised her of. I bet there’s more to the story, though
Lol. I won't be buying a Pulti home anytime soon. Thanks, Mr. Bowers for taking the time to explain it to me. I couldn't see what the fuss was all about. I really appreciate your time.
Always happy to have another satisfied customer 🙂 Look around the thread, you’ll see discussion of possible defenses that could apply when it reaches that point
Ok. I will. I'm new to this. DJT complained about not being at the top of Google search. A good SEO guy might help. Google changed their algorithms for him in Oct, right b4 the election. Google news feeds are so weird now. Some are fake or propaganda. I stick with the ones I know.
Thanks for the likes, but I completely missed the key factor. This nice gentleman was kind and explained it to me.
You guys, I was wrong. I posted my opinion without knowing the entire situation. Read the feeds written by attorneys.
I agree. Maybe she decided she wanted the second house as her primary residence. A mortgage company doesn't go back and change your interest rate on the first house. It should all be reflected on her taxes. Taxes are normally higher on a second residence.
How could the trump admn have known about this issue without someone violating privacy laws?
It’s all a distraction. Donnie wants to take over the Fed. That’s the only story here.
Do the mortgage applications have the same date? People move!
Closing was two weeks apart, with the refinance closing after she was already under contract for the purchase
Also, don't fall for the scam. People who talk about the accusation are the marks. It's just more Trump bullshit, this time with control of the Federal Reserve in play. We can talk about mortgage applications when the Epstein files are released.
Corporate media is nothing more than nazi propaganda machines. cnn, cbs, abc, wapo, nyt, politico--they're all nazi sympathizers interested only in padding their pockets at the expense of our democracy.
These reporters are bootlickers, they are not reporters. Ignore them, stop watching the news and reporting on them. Every single station and network deserves to be bankrupt. They put him in power and continue to highlight him.
She is only under investigation because his moldy swiss cheese brain identified a Black woman. I'd like to see the absolutely perfect mortgage applications these reporters submitted.
Most mortgage applications have some kind of unintentional error, that was fixed in the final documents. Or the underwriting missed it. And not a crime.
They shouldn't be talking about this ginned up accusation at all. What they should be talking about is the weaponization of government against the people! And more specifically, black people in power! And Trump's insane ideas about the Fed and monetary policy. He's going to destroy the US.
🎯
Such a nothing burger 🍔
why is any of this public? if she was charged with a crime, it would become a public record - no charging has occurred, some trump lackey posted this info on social media
wonder how many times Trump committed fraud... can't keep track
Whereas the Texas AG really did break the law
There is a legal concept where one can have multiple properties as a residence
Ignorance is the currency of MAGA.
How about checking out the Trump loan applications?
See: NYC Fraud convictions.
Many people have two principal residences. Look at Canada with summer cottages. Principal because used only by them. My primary residence is where I am registered to vote. In Canada also gains on sale of primary are tax free.
For mortgage purposes in the US primary/principal is distinguished from second homes
Good point. It’s not been clear what documents they are referencing.
Read about Ken Paxton, the attorney general of TX. He and his wife have 3 homes they declared as their primary residences.
Why let facts and logic get in the way of outrage manufactured to distract from the Epstein Files? #America #MAGA three second attention span.
Could have signed them years apart and both intended to be primary residences at the time of signing since one would replace the other. Happens every day. People also could change primary residences over the course of time as life unfolds.
If they had the actual goods they would indict her, and same re Schiff. Neither will happen.
DingDingDing! Where’s the Due Process? We already know the level of due process Donald Trump received in his many criminal trials. The Trump team needs to PROVE fraud or stand down.
“Just announce an investigation and I, along with the Republicans in the House, will do the rest.”
While we're at it, can we get reporters to stop referring to the kicked sandwich case as "nullification"? It's not nullification if there's insufficient evidence to support an indictment.
Was that anything like Ken Paxton having 3 principal residences? Or Tuberville living in Florida? Or Adam living in NJ?
If you live in one residence and you make a mortgage application with the intention of changing your principal residence if the application is accepted, then it is appropriate to list it as the principal residence on your application because that is what it will be when the process is complete.
Please people, learn the facts that are being discussed
You know it is bs!
Maybe they can “look into” Ken Paxton’s 3 primary residences while they’re at it Also Tuberville, who “represents” Alabama but lives in FL (probably cause he’s closer to Trump’s balls in FL) What’s good for the goose is good for the gander
Don’t forget Mark Meadows.
Hypocrites to the core
Yes!!!!
And Markwayne Mullin. Who also has a home in Florida when he represents Oklahoma.
I call him Mar'Kwane 🙅♂️
I usually just call him the Junior Senator among friends. 😉
And cowardly joshie, running away running away…
Such a wimp
Although likely accurate, “wimp” isn’t the first pejorative which comes to my mind… www.comicsands.com/media-librar...
They are besties.
I have two homes, due to work. Which is primary? To me both or either, or neither. Semantics at best. I have a bed and bikes at both,dual primary? Biprimarial? Interprimarial? Give me a break
Same here!
For lending purposes only one would be primary
How about 'principal'?
There’s no difference
That said, no lender would expect perfect representation from you at the start. That’s what underwriting is for!
Also not being argumentative to you, just seems a trifle of a detail to try to hang someone on.
Understood. It can be a hazy area of underwriting. But so long as the borrower is honest and up front about the matter the underwriting decision precludes any claim of fraud
Correct. There has to be intent to commit fraud.
Strictly speaking, an intent to deceive
And there it is- clarity and transparency are key (in all things honestly). I get the feeling obfuscation and fraud weren’t the objective she was going for.
It is. We would never go after someone based on what she's been accused of.
Also- love the name. I do a great Charlie in the Box 😁 it’s saaaanta it’s saaanta
Thank you :)
Good, coz I guess I’m a criminal if so. Just run me for a gop position.
When I bought the first, I financed, and hadn’t sold my previous home, and said it was primary, I assume underwriting figured I was selling the other. Again, not a finance guy.
And what’s the criteria? Personal choice?Time spent? I paid cash so wasn’t a concern,but truly seems a semantic choice.And on an application I probably would have said primary to both due to choice not having been made.I honestly do not know the intracies.
I did have some borrowers with ambiguous situations back when I was underwriting, and in those instances there wasn’t necessarily clear criteria Possible factors- what address do you use on your DL? What address is on your paystub/W2? Have you lived longer in one location?
Those criterion I could see. And would think should be spelled out when asking someone to determine . I’m at the one I have owned longer far less time, and as it was first is listed on license, but here in Ohio my other is on record with the bmv.
But both could be principle, because principle and primary are different words that mean different things.
“Principal” is technically different from “primary”. I’ve read that two homes can be considered principal, but there’s only one primary home.
For lending purposes this is not correct
You pick which is primary & its supposed to be consistent with the address you use for (where to pay) taxes, determine voting district, census conpletion, homestead rebates etc.
From a mortgage perspective they mostly care that you live there & it wont be rented out or vacant a majority of the time (vacation home).
Ironic, because Donald Trump was found liable for civil fraud, which involved inflating his net worth on financial statements to deceive lenders and insurers. This fraud included misrepresenting assets to get favorable loan terms.
All of this nonsense because this Republican got busted? Hopefully, they investigate and they are fair. This isn’t grounds for terminating her job. This is grounds for error proofing the system. If he does manage to fire her over this, then he needs to be removed from office his NY case & others.
It's called, "Owning multiple properties while Black." You know who has multiple properties and claimed them all as primary residences? THIS guy: Report: Texas AG Ken Paxton claimed three homes as primary residence - CBS Texas share.google/7Kv2L9DmyM5X...
Im surprised no one is focusing on the privacy issues. Is the head of a government agency allowed to access and use private information just for his own curiosity? Is he just using a list of "enemies" to search private information. Someone needs to ask this.
Everyone is focused on this. There were a million pieces written on this and its a key element of her lawsuit against the government
👆. THIS
Targeted prosecution could get you in trouble but they're not prosecuting with it just ratfucking
BIG time.
💯
This seems like it was once frowned upon in a pretty hard way, much like the "appearance of bias" in any previous DOJ (even Alberto Gonzales had to resign!), but is now part of "Trump redefining the boundaries etc etc"
Why does that even matter? In Canada, you can declare any property you own and occupy, whether your main residence or a recreational property, as a principal residence for income tax purposes. As for the mortgage, the lender may be interested in what the intended use is because valuations of ...
Recreational properties fluctuate way more than main residences but that probably has more to do with where the property is located. In any case, one may want to make a certain declaration on an application just to see what sort of terms you may get.
Directly above this post is talking about Ken Paxton from TX doing the same thing. How many of them are pulling this scam?
The 1003 is a Fannie form. If the loan was conforming Pulte has the app info at his fingertips.
Possibly. There may be (hopefully are) protections against access of individual files
Fair. I was more trying to confirm that the application is, in and of itself, a problem because of the 18 USC attestation that is signed at closing.
Yes, the application itself is a problem *if* she made misrepresentations on it. But Pulte’s criminal referral seems to refer exclusively to the publicly available mortgage agreements. I’m not aware of any instance in which he or Trump have specifically cited misrepresentations on her applications.
It’s in the MD standard uniform security instrument which would be recorded and public
I know, I’ve reviewed her mortgage instruments. The occupancy clause is in there. But there are several reasons why you’d want to know what she wrote on the application to actually assess her potential criminal exposure. Mere fact that she signed a contract w/ that clause doesn’t tell u much at all
Mortgage regulations & laws are complicated, which is one of the reasons trump admin chose "mortgage fraud" as their go-to "crime" with which to accuse their enemies. The average person will not know or understand all the complications, and will just hear "fraud."
Lsrry Hogan + his GOP in Maryland used it against a Dem AG to indict her.
From the guy who lied on his mortgages?
And she would have had to fill out the apps for both properties on the same day. It there is any time between it is an indication she changed her mind.
No, this is not accurate
Even engaging with the suggestion is rewarding bad faith. Everyone knows it’s a hatchet job
AG Paxton in Texas can tell you all about this…he listed four properties as his primary residence. Oh but he’s a MAGAt so it’s ok.
Felon tRump, true to his trait of pathological lying, said that "mortgage application docs" are PUBLIC. NO, IT'S NOT. "Even worse than the firing attempt is that the political appointed head of an agency is able to gain access to a regulated agency’s records on personal data and make it public."
Not to mention, no one, and I mean no one reads the fine print on their home closing documents. I had just taken the bar exam and was ridiculed by the escrow agent for asking to review the closing documents prior to closing. ‘No one reads those documents’ he said.
That’s as terrible escrow agent. Even if the observation is accurate, discouraging someone is wildly improper
We still haven’t seen any evidence. This is all slander at this point imho
Exactly, the media needs to do some research before they report on stories. How about some real fact checking of an Administration that is not familiar with the truth. Fact Check!!!
This is true. Reporters need to focus on the daily crime committed by Trump and Company. Get them removed from the White House.
Gracias. You are part of us in this country. Good luck to each of you.
