U.S. President Donald Trump on Tuesday accused longtime political adversary Sen. Adam Schiff of engaging in mortgage fraud, saying the California Democrat should be "brought to justice." In a post on his Truth Social platform, Trump claimed Fannie Mae’s Financial Crimes Division had found that Schiff repeatedly misrepresented a house he owns in Potomac, Maryland, as his primary residence in order to secure more favorable loan terms. According to the president, the alleged misconduct began when Schiff refinanced the Maryland property on 6 Feb. 2009 and continued through multiple transactions until the home was redesignated a second residence on 13 Oct. 2020. Trump said the Federal Housing Finance Agency, which oversees Fannie Mae, has forwarded a criminal referral to the Justice Department and urged prosecutors to act, calling mortgage fraud "very serious." Schiff rejected the accusations as “a baseless attempt at political retribution.” A spokesperson said lenders were aware he occupies both the Maryland home and a condominium in Burbank, California, throughout the year and that he has complied with all mortgage and tax rules. "This smear will not distract me from holding the president accountable," the senator wrote on X. Fannie Mae, the FHFA and the Justice Department all declined to comment on the matter. The dual-residence arrangement was first highlighted in a 2023 CNN report, which quoted legal experts saying the practice was unlikely to violate law, though it could pose political questions. No public evidence of wrongdoing beyond Trump’s assertions has been released. The confrontation escalates a years-long feud between the two men that began when Schiff led Trump’s first impeachment in 2020. Schiff, who joined the Senate in January, remains one of the president’s most vocal critics; Trump continues to depict him as a "scam artist" and says he "would love to see him brought to justice."
Note the date: 2023. Note the source: CNN. Adam Schiff is a fraud in every other way, so why not on his mortgage? https://t.co/BpKhrup3XR
“When Trump does it, they make it seem like the biggest deal ever.” — Jonathan Fahey Fahey exposes the irony of Adam Schiff’s mortgage fraud: “You can’t claim residency in two states—so where was he lying?” https://t.co/5CDXiYYeDe
At 4:30pm PT on @NEWSMAX Rob Schmitt Show (@SchmittNYC) we discuss Trump’s accusation that California Sen. Adam Schiff has committed mortgage fraud.