Schiff Takes Questions From Reporters Following Trump’s Comments
The Federal Housing Finance Agency (FHFA) has formally referred Senator Adam Schiff (D-CA) to the U.S. Department of Justice for potential criminal investigation over allegations of mortgage fraud. The referral, first reported by Fox News, stems from suspected falsification of bank and property records linked to multiple real estate transactions over a 16-year period.
In a letter dated May and addressed to Attorney General Pam Bondi and Deputy Attorney General Todd Blanche, FHFA Director William Pulte outlined the allegations.
According to the letter, Schiff allegedly altered documentation to secure more favorable loan terms for a property located in Potomac, Maryland. “Such misconduct jeopardizes the safety and soundness of FHFA’s regulated entities and the security and stability of the U.S. mortgage market,” Pulte stated.
Donald Trump is calling for me to be criminally prosecuted.
It's nothing new – but his attacks on the rule of law are more dangerous than ever. pic.twitter.com/UkAkr2Lsql
— Adam Schiff (@SenAdamSchiff) July 15, 2025
The case appears to focus on five loans backed by Fannie Mae. A financial crimes unit within the agency submitted a memo on Monday concluding that Schiff may have engaged in “a sustained pattern of possible occupancy misrepresentation” — a term typically used to describe borrowers falsely claiming a property is their primary residence to obtain better loan rates.
Schiff, who owns homes in both California and Maryland, has not publicly addressed the specific claims. However, on Wednesday, he posted a nearly five-minute video on social media platform X, denouncing President Donald Trump and characterizing the controversy as a political attack. Schiff did not mention the FHFA’s criminal referral in the video.
“No one is above the law.” - Adam Schiff https://t.co/CChrH11xqQ
— Joe Concha (@JoeConchaTV) July 16, 2025
When questioned by a Fox News Digital reporter about his primary residence designation and the fraud allegations, Schiff declined to comment, responding only with, “Have a nice day.”
Although the allegations remain unproven, the situation marks a serious development for Schiff, particularly as it involves federal oversight bodies and formal referral to the DOJ. The Justice Department has not commented on whether it has opened a formal investigation.
