Trump, Federal Reserve governor and Pulte
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A few weeks ago, Bill Pulte appeared to be struggling to maintain influence with the White House. The head of the Federal Housing Finance Agency was having to jostle for power in the planning for Fannie Mae’s and Freddie Mac’s potential initial public offering.
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Bill Pulte accused Lisa Cook of mortgage fraud and urged Attorney General Pam Bondi to investigate
Bill Pulte, who runs the Federal Housing Finance Agency under President Donald Trump, confirmed Thursday that he filed a criminal referral against Federal Reserve Governor Lisa Cook for alleged mortgage fraud.
President Trump has been using the bully pulpit of his presidency to go after the Federal Reserve with a vengeance, and Federal Housing Finance Agency (FHFA) chief William Pulte has acted as his megaphone-in-chief throughout his pressure campaign.
Philadelphia Fed researchers in a 2023 report assessed the number of “fraudulent investors” in the mortgage market, which they defined as those who had more than one owner-occupied home purchase loan within four quarters after the first one was originated.
In the coming months, Trump is set to nominate a new Fed chair and another governor, both with permanent votes on the 12-member rate-setting committee.
Federal Housing Finance Agency Director Bill Pulte suggested Thursday that his referral of Federal Reserve Governor Lisa Cook for alleged mortgage fraud was part of a broader crackdown on the issue.
Federal Housing Finance Agency Director Bill Pulte (left) has alleged that Federal Reserve Governor Lisa Cook of Michigan has committed mortgage fraud. Federal Housing Finance Agency Director Bill Pulte suggested Thursday that his referral of Federal Reserve Governor Lisa Cook for alleged mortgage fraud was part of a broader crackdown on the issue.
Pulte posted a copy of the letter to social media on Wednesday morning. In response, Trump has called on Cook to step aside.
Bill Pulte’s net worth in 2025 reflects his long-standing success as a businessman, investor, and philanthropist. Known as the grandson of homebuilding pioneer William J. Pulte, Bill has carved his own path in finance and housing policy.
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