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Lisa Cook, an American economist, was hailed a “superwoman” for being the first black woman to sit on the Federal Reserve Board of Governors. She’s been on the board since May 23, 2022. However, President Trump is now calling on her to resign after documents appear to show she may be involved in a mortgage scam.
President Trump took to Truth Social to call on Cook to resign, as the pressure cooker for the “first black woman” board member really heats up.
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In Trump’s Truth Social post, he shared a link to a Bloomberg article that highlighted a letter sent by Federal Housing Finance Agency head Bill Pulte, calling on Attorney General Pam Bondi to investigate Cook over a pair of sketchy mortgages.
This is the article that President Trump shared.
Bloomberg:
President Donald Trump called on Federal Reserve Governor Lisa Cook to resign after a staunch ally called for an investigation of the board member’s mortgages, ramping up pressure on the central bank.
Federal Housing Finance Agency Director Bill Pulte urged Attorney General Pam Bondi to investigate Cook over a pair of mortgages, the latest in a series of moves by the Trump administration to increase legal scrutiny of Democratic figures and appointees.
Trump said Wednesday that Cook “must resign now,” citing Pulte’s allegations, while the FHFA head posted on social media that the accusations give Trump “cause to fire” her.
Of course, Bloomberg is already spinning this as some kind of “revenge” play by President Trump, dragging in the mortgage fraud accusations against Shifty Adam Schiff, too. Apparently, if you’re an enemy of Trump, you get some kind of free pass to commit crimes because the media will step in to cover for you.
The Bloomberg piece goes on:
Pulte wrote a letter to Bondi and DOJ official Ed Martin on Aug. 15 suggesting that Cook may have committed a criminal offense. The letter, which was first reported by Bloomberg News, alleges that Cook “falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statute.”
Trump’s administration has pursued mortgage fraud allegations against high-profile Democrats, including California Senator Adam Schiff and New York Attorney General Letitia James. Both are longtime political foes of Trump.
Pulte took to X and dropped his receipts – what he says are Lisa Cook’s “matching signatures” on two separate mortgage applications. Both of these apps are claiming different properties as her “primary residence.” He then asked Jerome Powell if he supports fraud.
Ouch.
The signatures match. Does Jerome Powell support mortgage fraud? pic.twitter.com/fzxU9vcKra
— Pulte (@pulte) August 20, 2025
Lisa Cook has a big problem here. On one mortgage application, she allegedly signed her name, claiming that a condo in Atlanta was her “primary residence.” On another application, she allegedly signed off saying a Michigan property was her “primary residence.”
Which one is it?
Pulte says the signatures match, and at a glance, they sure look that way. By signing, she swore under penalty of law that both properties were her primary residence. But you can’t live in two primary houses at once.
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The law is crystal clear. You can only have one primary residence. The reason these elites keep getting nailed for mortgage fraud is pretty simple. Lenders hand out sweet deals when they believe you actually live in the home you’re buying. That means lower rates, smaller down payments, and better terms. But if it’s a second home or an out-of-state investment property, those sweet perks disappear. So when someone signs off on two different homes as their “primary residence,” it isn’t some harmless oversight. It’s very likely fraud.
Well, it looks like Lisa Cook might be on track for another big “first” – the first black woman on the Federal Reserve Board of Governors to get busted for mortgage fraud.
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