Adam Schiff Learns Fate Following Criminal Referral For Mortgage Fraud
Sen. Adam Schiff, D-Calif., is reportedly under criminal investigation for alleged mortgage fraud, according to a Trump administration source cited by Fox News.
The news was revealed Tuesday night by Fox News host Laura Ingraham on “The Ingraham Angle,” who said the source confirmed that the U.S. Attorney’s Office in Maryland is conducting the investigation, which could lead to charges related to mortgage fraud.
The development follows reports from a month earlier that the Federal Housing Finance Agency (FHFA) had submitted a criminal referral to the Department of Justice, accusing Schiff of falsifying bank documents and property records on multiple occasions to secure more favorable loan terms, Fox reported.
In a 2011 affidavit, then-Congressman Adam Schiff certified that a property located in Montgomery County, Maryland, was his primary residence.
Schiff also owns a condominium in Burbank, California, which he listed as his primary residence as recently as 2023 while campaigning for the U.S. Senate.
His office did not immediately respond to a request for comment from Fox News Digital, the outlet said.
In May, the director of the Federal Housing Finance Agency (FHFA) sent a letter to Attorney General Pam Bondi and Deputy Attorney General Todd Blanche outlining alleged misconduct by Schiff.
“Based on media reports, Mr. Adam B. Schiff has, in multiple instances, falsified bank documents and property records to acquire more favorable loan terms, impacting payments from 2003-2019 for a Potomac, Maryland-based property,” FHFA Director William Pulte wrote in the letter.
“As regulator of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, we take very seriously allegations of mortgage fraud or other criminal activity. Such misconduct jeopardizes the safety and soundness of FHFA’s regulated entities and the security and stability of the U.S. mortgage market,” Pulte noted further.
Fox News also reported that Pulte later received a memo from Fannie Mae’s financial crimes investigations unit alleging that Sen. Adam Schiff engaged in “a sustained pattern of possible occupancy misrepresentation” involving five Fannie Mae-backed loans.
According to the letter, Schiff and his wife purchased a home in Potomac, Md., in 2003 for $870,000. They secured a Fannie Mae-backed mortgage for $610,000 with a 30-year term at an interest rate of 5.625%, claiming the property would serve as their primary and principal residence.
The letter states that Schiff and his wife repeatedly affirmed the Maryland property as their primary residence in mortgage refinancing documents filed in 2009, 2011, 2012, and 2013—even as Schiff was serving as a U.S. Representative for the state of California.
Fox News obtained a copy of the 2011 affidavit in which Schiff signed a declaration certifying the Maryland home as his primary residence.
According to Pulte, the couple did not designate the Maryland property as a secondary residence until 2020, Fox noted further.
During the same period, Schiff claimed a homeowner’s tax exemption on a condominium he owns in Burbank, California—asserting it as his primary residence and receiving a $7,000 reduction on the 1% property tax, Pulte wrote, citing media reports.
In 2023, the letter added, a spokesperson for the then-congressman asserted that, “Adam’s primary residence is Burbank, California, and will remain so when he wins the Senate seat.”
The federal housing official stated that he believes Schiff’s alleged actions may constitute violations of federal criminal statutes, including those prohibiting wire fraud, mail fraud, bank fraud, and making false statements to financial institutions.
Schiff “appears to have falsified records in order to receive favorable loan terms, and also appears to have been aware of the financial benefits of a primary residence mortgage when compared to a secondary residence mortgage,” Pulte wrote.
The letter also noted that a spokesperson for Schiff in 2023 told CNN that, “Adam’s California and Maryland addresses have been listed as primary residences for loan purposes because they are both occupied throughout the year and to distinguish them from a vacation property.”
