Federal Reserve governor Lisa Cook declared in financial forms that her Atlanta property would be used as a “vacation home” and not her primary residence, according to documents obtained by NBC News that appear to undercut the Trump administration’s allegations of mortgage fraud.
Federal Housing Finance Agency Director Bill Pulte and President Donald Trump, who has moved to fire Cook, have accused the central bank board member of passing off the property as her main residence for financial gain. Cook has repeatedly denied the allegation, and administration officials have not provided definitive evidence supporting their claims.
A loan summary from the Bank-Fund Staff Federal Credit Union in May 2021 reads: “Property Use: Vacation Home.” Additionally, public records in Fulton County, Georgia, reviewed by NBC News show that no tax exemptions available for a primary residence were sought by Cook.
A second document obtained by NBC News, Cook’s “questionnaire for national security positions,” which was submitted to the Biden administration in late 2021 and later the Senate, contains a question that reads: “Please list all of your interests in real property, including additional homes, vacation homes, rental properties, and interests in trusts that may hold property.”
Cook responded by writing “2nd home” followed by the address of the Atlanta property.
The White House did not respond to a request for comment Friday evening on the documents, which were first reported by Reuters.
A representative for FHFA directed NBC News to a post on social media by Pulte, which reads, "If Dr. Cook solicited estimates as a vacation home and then entered into a mortgage agreement as a primary residence, that is extremely concerning, and in my opinion, evidences further intent to defraud."
Cook’s legal team declined to comment.
In a criminal referral to Attorney General Pam Bondi last month, Pulte wrote that “it appears an individual, Ms. Lisa DeNell Cook, has falsified bank documents and property records to acquire more favorable loan terms, potentially committing mortgage fraud under the criminal statue. This has included falsifying residence statuses for an Ann Arbor, Michigan-based residence and an Atlanta, Georgia-based property.”
Trump then announced on Truth Social that he was removing Cook from her role at the central bank — the first time a president has attempted to fire a top Fed official.
On Tuesday, a federal judge temporarily blocked Cook’s termination. The Trump administration appealed two days later and is seeking a ruling before the Fed’s interest-rate setting committee begins its next meeting, on Tuesday. Cook has a permanent vote on that committee.
Pulte has also said in recent interviews and social media posts that Cook “made misrepresentations about her mortgages to the Federal Government when she was a Governor.”
Cook’s national security questionnaire was filed with the Biden administration in December 2021. Cook joined the Fed after being confirmed by the Senate in May 2022.
In a recent court filing, Cook’s lawyers wrote that she “did not ever commit mortgage fraud.”
The Federal Reserve has said it would abide by the outcome of Cook’s ongoing legal case.
