[ad_1]
A New York City real estate lawyer and expert reported to Fox News Digital that New York Attorney General Letitia James reported that the criminal referral targeting reported mortgage fraud targeting mortgage fraud targeting mortgage fraud has not been a long-standing targeting president.
“To be totally frank, this is a retaliatory case brought on by the President for what the Attorney General has done to him over the past few years,” New York City lawyer Pierre DeBubs, a partner and founding member of the real estate law firm Romar DeBubs, told Fox News Digital in a Zoom interview Thursday morning. “In both cases, honestly, it’s a very weak case.
“The Attorney General’s case brought against Donald Trump is honestly a pure manipulation of the legal system, and it’s easy to laugh,” he continued, referring to the civil fraud case she brought about against Trump. “What never happened in New York history, where certain people were segregated for politically driven purposes.
“On the flip side now, this serves the same purpose, right? This is the president’s way of seeking retaliation against the Attorney General, as it is actually considered a mortgage fraud, but it’s not a crime,” he continued. “And if the Attorney General had not pursued a similar lawsuit with low merit against the President a few years ago, it would not have been something that would have been raised.”
The Trump administration refers to NY AG Letitia James for possible prosecution for alleged mortgage fraud
New York State Attorney General Leticia James will speak at a press conference in New York on September 21, 2022. (Brittainy Newman, File/AP)
Fannie May, Freddie Mac and the Federal Housing and Finance Agency (FHFA), an independent federal agency that oversees the federal mortgage banking system, sent a criminal referral to the Department of Justice on Monday, alleging that the Justice Attorney General had falsified his death records to get a more lucrative loan.
At the heart of the case, Home James, purchased in 2023 by Norfolk, Virginia, identified as a property that serves as a major residence in the mortgage document and Fannie Mae/Freddie Mac Form, according to a letter from the FHFA on Monday. James is legally hoping to live in New York as an elected official across Empire, the letter added.
The bank explained that the home has financial incentives between primary and secondary homes, as it offers a lower interest rate on the first home and is less likely to default on such loans compared to the second home.
“As real estate attorneys, we represent all the major lending institutions in the country,” he said. “And the general underwriting requirement for a bank is to solidify what the use of the property will be: it is a major residence, a second home, or an investment property.
“And the reason banks do it is clearly a higher percentage of default when it comes to investment properties and second homes, as opposed to major housing.”
A New York City real estate lawyer and expert reported to Fox News Digital that New York Attorney General Letitia James reported that the criminal referral targeting reported mortgage fraud targeting mortgage fraud targeting mortgage fraud has not been a long-standing targeting president. (Seth Wenig, Pool/AP)
“You know, you don’t want to leave their homes because the reason is people,” he said. “Now, it’s the second residential investment property, so we may tend to throw keys at banks.”
The court name was a new judge in Trump civil fraud case before reassigning the previous judge.
The bank has since asked the borrower to sign an affidavit. He explained that he would confirm that the acquired home will be used as a primary residence.
“Now, if that’s not the intention, or in fact it’s inaccurate and you’ve signed that agreement, you’re actually committing a mortgage scam,” he said. “And the banks rely on that contract when giving you a loan. Now would they have given you a loan if it was your second home?
He said that when it discovers such mortgage fraud related to misidentifying the property as a primary residence to obtain more favorable loan terms, the bank said it is “simply calling the loan.”
State Attorney General Letitia James is the longtime political enemy of President Donald Trump, who campaigned for the position of Attorney General in 2018 by vowing to actively pursue legal accusations against Trump if elected in 2018. (Lev Radin/Pacific Press/Lightrocket via Getty Images)
“They’ll call the loan and force you to pay it back by a certain date,” he said. “If they can’t sell the property or take other liquidity that requires you to repay the loan, they have the right to pursue a foreclosure case. They are legally granted this right. In these circumstances, technically speaking, this is the default and this is fraud.”
A New York City real estate lawyer added that this type of fraud is common.
Longtime Trump for Letitia James reviews insider trading that could potentially surround the president’s tariff suspension
“How scam is that? To be very honest with you, this is very common thing that happens in the real estate market,” he said. “I’m not saying it’s right. I’m not saying Leticia James…the whole scope of the law should not be applied to her, but that’s what happens because, if the loan is up to date, the bank is not really at a disadvantage, but it’s still a mortgage scam.
Fat Bus argued that this type of fraud does not rise to the level of criminal activity. This is because banks can call loans, retrieve their assets, and liquidate them.
“The Attorney General’s case filed against Donald Trump is honestly a pure manipulation of the legal system, and it’s hilarious,” said Pierre Debbas, a lawyer in New York City. (Michael M. Santiago/Getty Images)
James’ office reportedly reportedly told the New York Times that a separate 2023 loan application in Norfolk, Virginia, would not allow her to live in the property full-time, and her mortgage agreement did not require her to occupy the property as her primary residence.
James vowed to actively pursue legal accusations against Trump if elected, adding that he was Trump’s longtime political enemy who campaigned for the general position of Attorney General in 2018, exposing “con artists” after his victory that year.
Her office levelled nearly 100 legal agendas against the first Trump administration, adding that after his second presidential victory in 2024, she will continue to challenge him in court to “define the rights of New Yorkers and the rule of law.”
NY AG Letitia James skewed a “uncomfortable” statement after Trump’s victory: “Complete rog arrogance”
Most notably, James pursued a civil fraud case against Trump and Trump’s organization to increase the value of his property in order to obtain more lucrative loans, insurance coverage and tax credits, and ruled at $454 million in 2024.
A spokesperson for James’ office said on Thursday that President Trump’s lawyers had repeated discussions over and over during the Attorney General’s trial against President Trump and the Trump organization.
“Each time the judge refused to discuss the matter and approved an attorney for making it,” the spokesman added. “Attorney General James won her case and the ruling against President Trump is currently over $500 million.”
Fox News contributor Jonathan Turley mentioned the irony of Trump’s criminal introductions over allegations that James lost numbers to get a more lucrative loan after chasing him for something similar.
“This is the person who indicted Trump other than tearing the label from the mattress, and made false or misleading statements to financial institutions amid accusations brought in New York in criminal cases rather than civil,” the jurist said in FOX News’ “The Ingraham Angle.” “As for James, there are very few questions here if she applies the Leticia James standard she created. This seems pretty easy.”
The administration is investigating allegations released by the FHFA, emphasizing that the FHFA “does not exceed the law,” White House spokesman Harrison Fields said Wednesday.
“Along with Democrats, they love to throw stones at glass houses when they realize they’re actually committed a crime they’re trying to oppose,” Fields said.
“So this is a crime introduction that the Justice Department must now consider under Attorney General Pam Bondy,” he added. “The allegations from the FHFA are very serious. We look at them, no one is beyond the law. And Tisch James, she wants to say that about the president, but she looks in the mirror and if you have a skeleton about abuse the law and doing something illegal, then maybe you don’t be like the Queen of Justice.
New York AG Leticia James responds to mortgage fraud claims
The Crime Reference also cited previously reported issues regarding James’s property, including the purchase of Brooklyn property in 2001. The Occupation Certificate lists the properties as five-unit residences, while James’ mortgage lists the properties as four units.
Debbas explained that five units of property have been identified as commercial property. He explained that this would require a commercial loan with a higher interest rate than a mortgage. However, banks are under the burden of verifying whether the building is commercial or residential.
“If borrowers have the ability to tell the bank or convince the bank that it is actually four units, that’s in their financial interest,” he said. “Currently, if you look at the certificate of occupancy, the certificate of residence is issued by the Ministry of Building, which communicates the legal use of the building.
Letitia James’ office levelled nearly 100 legal agendas against the first Trump administration, and said after his second presidential victory in 2024, she will continue to challenge him in court to “define the rights of New Yorkers and the rule of law.” (Gary Harshawn/Getty Images)
“This is a five-family residence,” he said. “Now, this is clearly commercial property. The burden of verifying this was on the bank, but if the borrower actually has specific knowledge, there can be arguing that mortgage fraud was committed in the application of this law.”
James’ office told the New York Times that the rider attached to a Brooklyn mortgage had a four-unit building, not five.
Fat Bass added that before the market crashed in 2008, there was a lot of “suspiciousness” in the mortgage world.
“As an elected official, there should be a high standard for not forging documents or committing fraud, but forcing legal requirements to mandate integrity and obligations,” Fabbas said.
Click here to get the Fox News app
While reflecting the alleged mortgage fraud of a Virginia home, she said, “Now, how will this affect her seat as New York’s attorney general? At the end of the day, it will be determined based on the number of enemies she has created.
A spokesperson for James’ office said Wednesday morning that she “focuses on protecting New Yorkers every day. This administration in particular weaponizes the federal government against the rule of law and the constitution. She will not be threatened by bullies,” Fox Digital previously reported.
[ad_2]Source link
