Trump wants his foes prosecuted for a rare crime, mortgage fraud https://t.co/7qhkt6HNSe ...

I mean, James was charged with two counts. One for bank fraud and another for making false statements to a financial institution. But what that really means in layman's terms, I guess, is is mortgage fraud.Now, that is ringing a bell for you. That is because that has become the Trump gingup charge of choice, mortgage fraud. Trump appointed this guy, Bill Py, to be his little lackey over as the director of the Federal Housing Finance Associ agency.And even though that agency is in charge of monitoring the ma ...

Breaking news about another one of Donald Trump's critics and perceived enemies being targeted today, this afternoon, right now, for criminal prosecution. Two people familiar with the proceedings telling MSNBC that acting US Attorney Lindseay Haligan has presented evidence to bring criminal charges against New York Attorney General Leticia James to a grand jury. Sources telling MSNBC that the office is currently awaiting the grand jury's decision on whether or not to indict James on charges of mortgage frau ...

Justice Department & Political Targeting - The report suggests a pattern of weaponizing the Justice Department by Trump against perceived enemies, using mortgage fraud allegations [1][3] - Key figures like Attorney General Leticia James were targeted with mortgage fraud accusations, followed by public pressure for resignation before any formal prosecution [3][4] - Federal prosecutors in the Eastern District of Virginia investigated Leticia James for 5 months but found no clear evidence of wrongdoing, leading to a declined indictment [5] - The US Attorney in charge of the Eastern District of Virginia, Eric Seabird, resigned, reportedly forced out for not indicting James [6] Political Interference & Abuse of Power - The core issue is the alleged forcing out of a federal prosecutor for not pursuing criminal charges against a political opponent without sufficient evidence [7][9] - Senator Tim Kaine highlights the importance of the Eastern District of Virginia, overseeing national security and terrorism cases, raising concerns about installing a political loyalist [20][22] - Concerns are raised about potential political interference in the appointment of prosecutors, potentially compromising the integrity of justice [19][23] Nomination & Vetting Process - Virginia's process for recommending US Attorney candidates involves a panel of former US attorneys and bipartisan support, with recommendations sent to the White House [13][14] - Trump's administration vetted and nominated individuals who were later pressured to act against their oaths of office [16][17] - The blue slip process, involving home state senators' approval, is crucial to prevent unqualified individuals from being appointed for political purposes [23][24]

Political and Legal Aspects - The Trump administration sought Supreme Court permission to fire Lisa Cook, the only Black woman on the Federal Reserve Board, alleging mortgage fraud [1] - The allegations against Cook, Schiff, and James originate from Bill Py, a Trump donor overseeing US mortgage markets, raising concerns about weaponization of government resources [3][4][5] - NBC News reported that financial documents contradict the claims against Cook, indicating the Atlanta condo was declared as a second home [10] - Mortgage fraud investigations into Leticia James are also at a standstill due to insufficient evidence for conviction [11] - Experts suggest that inconsistencies in home loan filings do not necessarily indicate fraud, as demonstrated by Scott Bessant's case [14] Ethical Concerns - Bill Py's parents allegedly claimed homestead exemptions for residences in both Michigan and Florida since 2020, potentially benefiting from the same kind of dubious housing claims [15][16] - The Wall Street Journal's conservative editorial board criticized Py's actions as government weaponization, calling it an ominous turn in political lawfare [9] Financial Regulation and Oversight - Bill Py, as the head of the Federal Housing Finance Authority, is responsible for overseeing US mortgage markets and ensuring safety and soundness [5][8]

Core Points - U.S. Treasury Secretary Scott Bessent listed two homes as his "principal residence" for mortgage purposes in 2007, which has drawn parallels to allegations of "mortgage fraud" made by President Donald Trump [1] - Mortgage specialists indicated that there is no evidence of misconduct in Bessent's paperwork, highlighting that such inconsistencies are not uncommon in the industry [2] - Bank of America did not rely on Bessent's claims and did not expect him to occupy both properties as primary residences [2] Industry Insights - The situation raises questions about the integrity of mortgage applications and the potential for misuse of property listings in securing loans [1][2] - The incident reflects broader concerns regarding accountability and transparency in financial dealings among high-profile government officials [1][2] - Speculation exists regarding potential motivations behind the leak of this information, suggesting possible retaliatory actions within the political landscape [3]

Allegations of Mortgage Fraud - The report suggests a potential double standard in the Trump administration's approach to mortgage fraud, with accusations primarily targeting political adversaries [3][4][5] - Allegations of mortgage fraud have been leveled against figures like Leticia James, Adam Schiff, and Lisa Cook, all perceived as enemies of President Trump [4][5] - The report highlights that these officials have denied wrongdoing, attributing the allegations to potential clerical errors [6] Selective Enforcement - The report contrasts the administration's eagerness to pursue mortgage fraud allegations against Democrats with its reluctance to address similar allegations against Republicans, such as Ken Paxton [8][9] - Despite public reports and even attack ads highlighting Ken Paxton's mortgage issues, the administration appears hesitant to investigate [9][10] - The report also mentions allegations of mortgage fraud against three Trump cabinet members: Lori Chavez Damer, Lee Zelden, and Shawn Duffy [11] Potential Conflicts of Interest - The report implies that the focus on mortgage fraud may be driven by a desire to ingratiate with Trump rather than a genuine commitment to enforcing the law impartially [14] - The report questions the administration's stance on "innocent mistakes," given the apparent lack of leniency shown to those targeted for alleged mortgage fraud [13]

Regulatory Scrutiny - The U S Department of Justice is reportedly investigating Federal Reserve Governor Lisa Cook over allegations of mortgage fraud [1] Financial Industry Implication - Potential impact on the Federal Reserve's credibility and decision-making if the allegations are substantiated [1]

Investigation & Source Protection - A federal investigation is underway, and sources and methods, including whistleblowers, will be protected [1] - Protecting sources is crucial, and intimidating them is unacceptable [1] - Whistleblower protections are in place to encourage information sharing [1] Political Weaponization Concerns - The origin of the tip, especially if from within the administration or agency, raises concerns about political weaponization [2] - The perception of political weaponization needs to be addressed [2] Mortgage Fraud Allegations - The core issue is whether mortgage fraud was committed [3] - There is a focus on accountability, especially for sophisticated individuals and institutions [3]

Mortgage Fraud Allegations - The Federal Housing Finance Agency (FHFA) discovered alleged mortgage fraud independently and received a tip, but the source of the tip is not disclosed to protect sources and methods [10][12] - The FHFA Director believes there is strong cause related to the alleged crime and defers to the President's lawyers and the Department of Justice (DOJ) [19] - The FHFA Director emphasizes the importance of rooting out mortgage fraud to prevent another housing crisis like in 2008 [8][11] Independence and Political Concerns - The FHFA Director questions the independence of the Federal Reserve (The Fed) over the last four years [5] - Concerns are raised about potential political weaponization related to the investigation [9][13] - The FHFA Director defends the agency's role in pursuing mortgage fraud regardless of political affiliation or position [8] Legal and Procedural Aspects - The DOJ is investigating the matter, and the FHFA Director respects the process and is letting it play out [20] - The individual involved has the right to defend herself in court, and the legal process should be allowed to proceed [16][17] - The FHFA makes referrals almost every day, and this case is receiving attention due to the individual involved [17]