Rep #EricSwalwell (D-CA), one of Trump’s most vocal critics in the #House, said Thurs that he was being targeted by the #Trump admin after news reports that he had been referred to the #DON for a potential #criminal investigation.

An accusation that Swalwell had committed #mortgage & #tax #fraud was made on Wednesday by #BillPulte, director of the #FHFA. Pulte, a Trump crony, has made similar allegations against Trump’s other perceived enemies.

#law #RevengePolitics
https://www.nytimes.com/2025/11/14/us/politics/trump-mortgage-fraud-eric-swalwell.html?smid=url-share

…The Wall Street Journal reported this week that some #FannieMae #ethics & #oversight officials who were fired last month had been investigating whether #BillPulte improperly obtained #mortgage information for #LetitiaJames, who was charged last month with bank fraud after Pulte sent a criminal referral to the #DOJ. She said the charges, which she denies, are politically motivated.

#law #scammers #housing #HousingCrisis #affordability #CostOfLiving #WealthGap #Trump

Rep #EricSwalwell (D-CA), one of Trump’s most vocal critics in the #House, said Thurs that he was being targeted by the #Trump admin after news reports that he had been referred to the #DON for a potential #criminal investigation.

An accusation that Swalwell had committed #mortgage & #tax #fraud was made on Wednesday by #BillPulte, director of the #FHFA. Pulte, a Trump crony, has made similar allegations against Trump’s other perceived enemies.

#law #RevengePolitics
https://www.nytimes.com/2025/11/14/us/politics/trump-mortgage-fraud-eric-swalwell.html?smid=url-share

In the Oct 11 message to Smith, Evans, the #FannieMae #mortgage executive, also added others to the email chain because they “were involved with this week’s efforts to compile this information” & he wanted to “make sure you do not exacerbate this issue.”

Danielle McCoy, Fannie Mae’s general counsel, weighed in, adding that the information Smith provided to #FreddieMac should “never be shared” & “could put the company at risk.”

#law #scammers #housing #affordability #BillPulte #Trump

…Soon, a team at #FannieMae was overseeing an effort to pull together a tranche of #mortgage data, according to emails reviewed by the AP. Smith played a central role and shared the #confidential lender-level pricing information with #FreddieMac, which set off alarms at both companies, according to the emails.

#law #scammers #housing #HousingCrisis #affordability #CostOfLiving #WealthGap #BillPulte #Trump

#BillPulte ’s power over the #mortgage lending industry is unusual. Not long after his #Senate confirmation, he appointed himself chairman of both #FannieMae & #FreddieMac, which hold trillions of dollars in assets. The companies serve as a crucial backstop for the home lending industry by buying up mortgages from individual lenders, which are packaged together & sold to investors.

#law #scammers #housing #HousingCrisis #affordability #CostOfLiving #WealthGap #Trump

…The Wall Street Journal reported this week that some #FannieMae #ethics & #oversight officials who were fired last month had been investigating whether #BillPulte improperly obtained #mortgage information for #LetitiaJames, who was charged last month with bank fraud after Pulte sent a criminal referral to the #DOJ. She said the charges, which she denies, are politically motivated.

#law #scammers #housing #HousingCrisis #affordability #CostOfLiving #WealthGap #Trump

In June, #BillPulte ordered #FannieMae & #FreddieMac to prepare a proposal for the firms to accept #cryptocurrency, another industry #Trump has boosted, as part of the criteria for buying mortgages from #banks. Last week, he persuaded Trump about the allure of a 50-year #mortgage as a way to increase home buying & building—a proposal that was widely criticized because it would drastically increase the overall price of a #loan.

#law #scammers #housing #HousingCrisis #affordability #CostOfLiving

The episode marks the latest example of #BillPulte using what is typically a low-profile position in the federal bureaucracy to enhance his own standing & gain the attention of #Trump. He’s prompted #mortgage #fraud investigations of prominent #Democrats who are some of Trump’s best known antagonists, including Sen #AdamSchiff of California, #NYAG #LetitiaJames & California Rep #EricSwalwell.

#law #scammers #housing #HousingCrisis #affordability #CostOfLiving #WealthGap

“Lauren, the information that was provided to #FreddieMac in this email is a problem,” Malloy Evans, snr VP of #FannieMae’s single-family #mortgage division, wrote in an Oct 11 email. “That is confidential, competitive information.”

He also copied Fannie Mae’s CEO, Priscilla Almodovar, on the email, which bore the subject line: “As Per Director Pulte’s Ask.” Evans asked Fannie Mae’s top attorney “to weigh in on what, if any, steps we need to take legally to protect ourselves now.”

#law #Trump

@ewen @pluralistic

The sentiment is spot on:

"As Keen points out, it's not merely that the banks that currently issue mortgages don't "turn a shovel of dirt or contribute a pound of material" – they simply will not issue a mortgage to a median buyer. The median buyer can't get a mortgage, so the system is rigged to make them pay someone else's mortgage through their monthly rents, every month until they die."

"The loser is the investment sector, the City boys who buy and sell mortgage debt. And you know, fuck those guys."

#UK #mortgage

@ewen @pluralistic

The sentiment is spot on:

"As Keen points out, it's not merely that the banks that currently issue mortgages don't "turn a shovel of dirt or contribute a pound of material" – they simply will not issue a mortgage to a median buyer. The median buyer can't get a mortgage, so the system is rigged to make them pay someone else's mortgage through their monthly rents, every month until they die."

"The loser is the investment sector, the City boys who buy and sell mortgage debt. And you know, fuck those guys."

#UK #mortgage