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A source from the Trump administration told Fox News, Sen. Adam Schiff is currently undergoing a criminal investigation into mortgage fraud.
Fox News host Laura Ingraham broke the news on “The Ingraham Angle” Tuesday night, with sources saying a criminal investigation is being conducted by the US Lawyer’s office in Maryland on charges that could include mortgage fraud.
The investigation comes a month after talks were broken that the Federal Housing Finance Agency (FHFA) would send criminal referrals to the Department of Justice (DOJ), which alleges they forged bank documents and property records to obtain more favorable loan terms.
In a 2011 affidavit signed by then-California House of Representatives, Schiff found his property in Montgomery County, Maryland, to be his primary residence.
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US Senator Adam Schiff, D-Calif. will speak at a press conference in Washington, DC (Kevin Dietsch/Getty Images) introducing the 2025 ban on assault weapons.
Schiff also owns a condominium in Burbank, California. He also claims his primary residence in 2023 during the Senate campaign.
Schiff’s office did not immediately respond to requests for comment regarding the issue of Fox News Digital.
The UFHFA director wrote to Attorney General Pam Bondy and Deputy Attorney General Todd Blanche in May citing alleged misconduct by Schiff.
Can Senator Adam Schiff really go to prison for alleged mortgage fraud?
Attorney General Pam Bondi was notified in May of possible misconduct by Schiff. (Tom Williams/CQ-Roll Call, Inc.
“Based on media coverage, Adam B. Schiff has forged bank documents and property records to obtain more favorable loan terms in multiple instances, affecting the payment of Maryland-based property from 2003 to 2019.” “As Fannie Mae, Freddie Mac and the Federal Mortgage Bank regulator, we take allegations of mortgage fraud or other criminal activity very seriously. Such fraud jeopardizes the safety and soundness of FHFA’s regulatory entities, as well as the security and stability of the U.S. mortgage market.
Pulte later received a note from the Fannie Mae Financial Crimes investigation and concluded that Schiff claimed he had engaged in “a persistent pattern of misrepresentation that could be occupant” on five Fannie Mae loans.
According to the letter, Schiff and his wife bought a home in Potomac, Maryland in 2003 for $870,000. They signed a Fannie Mae mortgage agreement for $610,000 at a rate of 5.625% over a 30-year term, claiming that the property would be the main residence and the main residence.
Adam Schiff, D-Calif, according to sources from the Trump administration. is currently investigating mortgage fraud. (Drew Anger/Getty Images)
The letter said that despite Schiff being an elected official representing California at the same time, it reaffirmed that Maryland homes in 2009, 2011, 2012 and 2013 were the main residences for mortgage refinancing applications.
Fox News has obtained a copy of the 2011 affidavit that showed Schiff signing the Maryland home to prove his primary residence.
Pulte said Schiff and his wife did not list the Maryland home as a secondary residence until 2020.
In the same time frame, Schiff is writing citing media reports, claiming that he receives a homeowner’s tax exemption for a condominium he owns in Burbank, California, and asserting his home as his main residence for a $7,000 reduction from the property tax of 1%.
In 2023, Schiff spokesman Letter Notes argued that “Adam’s main residence is Burbank, California, and remains the same when he wins the Senate seat.”
Federal housing officials wrote that they believe Schiff’s alleged misconduct is a violation of the federal criminal code that prohibits wire fraud, mail fraud, bank fraud and false statements to financial institutions.
Schiff appears to have falsified records to receive favorable loan terms and also apparently recognized the financial benefits of a major residential mortgage when compared to a secondary residential mortgage,” writes Pulte.
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According to the letter, a Schiff spokesman told CNN in 2023, “Adam’s California and Maryland addresses are occupied throughout the year and listed as a major residence for loan purposes to distinguish between property on leave.”
Last year, federal ju judges convicted Marilyn Mosby of making false statements about her Florida apartment mortgage application when she was a Baltimore city lawyer.
Danielle Wallace of Fox News Digital contributed to this report.
Greg Wehner is a news reporter for Fox News Digital.
Story tips and ideas can be sent to greg.wehner @fox.com and Twitter @gregwehner.
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