Fed Governor Lisa Cook Faces Scrutiny Over Property Filings Amid Trump Push for Removal

Federal Reserve Governor Lisa Cook described a condominium she bought in June 2021 as a “vacation home” on a loan estimate, a detail that could weaken the Trump administration’s claim she committed mortgage fraud.

President Donald Trump is seeking to remove Cook “for cause,” alleging she claimed both the condo and another property as her primary residence. On a separate security clearance form, however, Cook referred to the condo as a “second home.”

Cook has sued to block her firing, securing an injunction Tuesday that allows her to remain on the Fed’s seven-member board of governors. The administration has appealed and requested an emergency ruling by Monday, ahead of a key Fed meeting widely expected to deliver a quarter-point interest rate cut.

Trump ally Bill Pulte, a regulator overseeing Fannie Mae and Freddie Mac, accused Cook of signing conflicting documents about the condo and her Ann Arbor, Michigan, home. He referred the matter to the Justice Department, which has opened an investigation.

While classifying a property as a primary residence can secure more favorable mortgage terms, Fulton County records show Cook has never sought a homestead exemption on the Atlanta condo since purchasing it.

The White House has not commented.