Lisa Cook Mortgage Records Raise Doubts Over Trump’s Effort to Oust Fed Governor

Federal Reserve Governor Lisa Cook is fighting to keep her seat as new documents raise serious doubts about President Donald Trump’s claims that she committed mortgage fraud. Records describing a condominium she purchased in Atlanta as a “vacation home” and later as a “second home” appear to challenge allegations that she misrepresented the property to secure better loan terms. The revelation could complicate Trump’s unprecedented attempt to remove Cook from the Fed just days before a critical policy meeting where interest rates are expected to be cut.

WASHINGTON, D.C. — Federal Reserve Governor Lisa Cook is pushing back against allegations of mortgage fraud, as new documents appear to weaken President Donald Trump’s case for her removal.

The controversy stems from two properties Cook purchased in 2021, one in Ann Arbor, Michigan, and another in Atlanta, Georgia. Trump and his aides have claimed that Cook improperly declared both as her “primary residence” to qualify for lower mortgage rates. However, a loan estimate reviewed by The New York Times describes the Atlanta condominium as a “vacation home,” while records submitted during her Fed nomination process later listed it as a “second home.”

Legal experts say such disclosures undercut the suggestion that Cook sought to deceive lenders. “This should be case closed on the Cook mortgage issue,” said Adam Levitin, a professor at Georgetown Law. “There is no way to maintain a criminal prosecution in light of the disclosure in Cook’s loan application.”

Court Battle Over Fed Independence

The dispute has already spilled into the courts. Earlier this week, Cook secured an injunction allowing her to remain in her role while the case proceeds, marking the first time a president has attempted to fire a sitting Federal Reserve governor. The Trump administration has appealed and is pressing for an emergency ruling before the Fed’s upcoming meeting on Tuesday and Wednesday, when policymakers are expected to cut interest rates by a quarter point.

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Bill Pulte, a Trump-appointed official at the Federal Housing Finance Agency, has filed a criminal referral with the Justice Department, which has opened an inquiry. But Fulton County property records show Cook has never claimed a homestead exemption on the Atlanta condo — further evidence that she did not treat it as her primary residence.

Political Stakes for the White House

The case comes as Trump intensifies his efforts to exert influence over the Federal Reserve, clashing with Chair Jerome Powell and calling for steep interest rate reductions. Critics warn that the attempt to remove Cook risks undermining the independence of the central bank at a moment of significant economic uncertainty.

Cook’s lawyers argue that her removal would not only damage the Fed’s credibility but also disrupt financial markets. In a Saturday filing, they urged judges to dismiss the allegations outright, citing the new records as proof that Trump’s fraud claims lack merit.