Fox News reported that the Federal Housing Finance Agency (FHFA) had submitted a criminal referral to the Department of Justice, accusing Schiff of falsifying bank documents and property records on multiple occasions in order to secure more favorable loan terms. This new development follows reports that were presented a month earlier.
In an affidavit that he submitted in 2011, Adam Schiff, who was serving as a member of Congress at the time, established that a property situated in Montgomery County, Maryland, was his principal residence.
According to Fox News Digital, his office did not immediately react to a request for comment that was made by the site.
During the month of May, the director of the Federal Housing Finance Agency (FHFA) wrote a letter to Attorney General Pam Bondi and Deputy Attorney General Todd Blanche, in which she detailed the allegations of misbehavior that Schiff had committed.
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Additionally, it was alleged by Fox News that Pulte later obtained a memo from the financial crimes investigations branch of Fannie Mae, which asserted that Senator Adam Schiff had engaged in “a sustained pattern of possible occupancy misrepresentation” in relation to five Fannie Mae-backed loans.
A home in Potomac, Maryland, was purchased by Schiff and his wife in 2003 for the price of $870,000, as stated in the letter written by Schiff. With the assertion that the property would serve as both their primary and major residence, they were able to obtain a mortgage that was backed by Fannie Mae for the amount of $610,000, with a duration of thirty years and an interest rate of 5.625%. Continue reading…
