Democratic Sen. Adam Schiff is under criminal investigation for alleged mortgage fraud, according to a report Tuesday by Fox News.
Schiff is accused of falsifying bank records in order to obtain more favorable loan terms on a Potomac, Maryland property between 2003 and 2019. The allegations suggest the longtime California lawmaker manipulated documents related to his mortgage payments.
“Mr. Adam B. Schiff has, in multiple instances, falsified bank documents and property records to acquire more favorable loan terms,” Federal Housing Finance Agency (FHFA) Director William Pulte said. “Such misconduct jeopardizes the safety and soundness of FHFA’s regulated entities and the security and stability of the U.S. mortgage market.”
The FHFA, which oversees Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, has confirmed it is actively reviewing the claims as part of its regulatory responsibility.
Schiff’s office did not immediately respond to a request for comment.
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