A loan estimate concerning an Atlanta property purchased by Lisa Cook, a Federal Reserve governor facing allegations of mortgage fraud from the Trump administration, has come to light. The document, dated May 28, 2021, indicates that Cook declared the property as a “vacation home” to her credit union prior to finalizing the purchase. This declaration contradicts claims made by Cook’s critics, who assert that she reported two separate homes as her primary residence. Two independent real estate experts reviewed the documentation and noted its implications regarding the accusations against her.
Cook has not publicly commented on these allegations and has consistently denied any wrongdoing. Her property portfolio includes another home in Ann Arbor, Michigan, and an investment property in Massachusetts. Accusations against her, led by Bill Pulte, director of the Federal Housing Finance Agency, focus on claims that she improperly identified both the Atlanta and Michigan properties as her primary residence—an assertion that could have financial implications concerning her mortgage and taxes. These claims prompted Pulte to refer the matter to the Department of Justice and led to an order for Cook’s dismissal by former President Trump.
Despite these developments, Cook is currently still employed at the Federal Reserve and has initiated legal action against Trump to contest her dismissal. It remains unclear whether Pulte or other officials are aware of Cook’s loan estimate. Additionally, the standardized federal mortgage documents involved stipulate that each loan was taken for a primary residence unless otherwise agreed upon, yet the loan estimate explicitly states “Property Use: Vacation Home.”
Further supporting Cook’s position, property records show that she did not apply for a primary residence tax exemption for the Georgia home. Additionally, documents related to her security clearance for her Federal Reserve role indicate that she classified the Atlanta property as a “second home.” This situation is part of a broader conflict over efforts by Trump to assert control over the Federal Reserve, an institution traditionally insulated from political interference.
Concerns regarding the financial disclosures of government officials have become more prominent, with other officials also facing scrutiny. Recently, questions have emerged regarding Pulte’s parents, who allegedly declared two homes in different states as their primary residence, prompting tax complications.
Source: https://www.theguardian.com/us-news/2025/sep/13/fed-governor-lisa-cook-home