Fed Governor Cook Calls Atlanta Property a "Vacation Home," Records Reveal

Background on Lisa Cook and the Mortgage Allegations

Lisa Cook, a Federal Reserve governor, has found herself at the center of a controversy involving allegations of mortgage fraud. According to a loan estimate reviewed by TRIP MASTERY, Cook listed an Atlanta home as a “vacation home” when she purchased it. This document, dated May 28, 2021, was issued by her credit union just before the purchase, and it indicates that Cook did not intend for the property to be her primary residence.

This information appears to contradict other documents that have been used by critics to accuse Cook of claiming two different homes as her primary residence. Two independent real-estate experts who analyzed the situation said that this loan estimate could potentially support Cook’s defense against the allegations.

Despite these claims, Cook has consistently denied any wrongdoing regarding her properties, which also include a home in Ann Arbor, Michigan, and an investment property in Massachusetts. She has not publicly commented on the allegations, and TRIP MASTERY was unable to reach her for further clarification.

The Role of Administration Officials

The accusations against Cook were led by Bill Pulte, director of the Federal Housing Finance Agency (FHFA). He and other administration officials have cited mortgage documents from both the Atlanta and Michigan properties to argue that Cook falsely claimed both as her “primary residence.” These alleged false claims could have provided financial benefits, such as lower mortgage rates or tax advantages.

Pulte reportedly referred the matter to the Department of Justice, leading to a federal investigation and an order by President Donald Trump to dismiss Cook from her position. However, Cook remains at the Federal Reserve and has filed a lawsuit to challenge her dismissal.

TRIP MASTERY was unable to determine whether Pulte or other administration officials are aware of the Atlanta loan estimate. Spokespeople for the FHFA, which Pulte leads, did not respond to requests for comment.

Additional Evidence Supporting Cook’s Case

The documents cited by Pulte include standardized federal mortgage paperwork that requires each loan to be for a “primary residence.” However, documentation reviewed by TRIP MASTERY for the Atlanta home, filed with a court in Georgia’s Fulton County, shows that the stipulation applies “unless Lender otherwise agrees in writing.”

The loan estimate, prepared by Washington-based Bank-Fund Staff Federal Credit Union, clearly states that the property is intended for “Vacation Home” use. This detail could help Cook’s case, as it suggests that during the loan application process, she informed the lender of her intent to use the property as a vacation home.

Another point that may support Cook’s position is that she never requested a tax exemption for the Georgia home as a primary residence, according to property records and a Fulton County tax official.

Additional Declarations and Context

In another related document, a separate form completed by Cook as part of her security clearance for her role at the Federal Reserve shows that she declared the Atlanta property as a “2nd home” in December 2021. While this declaration is unrelated to the mortgage, it aligns with the claim made on her Atlanta loan summary.

The controversy surrounding Cook is part of a larger battle over President Trump's efforts to exert more control over the Federal Reserve. As an independent institution, the Fed is designed to operate free from political influence. However, Trump has frequently criticized Fed governors for their reluctance to cut interest rates since he returned to the White House earlier this year.

Broader Implications and Other Cases

Amid the controversy, the personal finances of other government officials and their families have also come under scrutiny by rival politicians, the media, and others. Last week, TRIP MASTERY reported that Pulte’s own father and stepmother had declared two homes in different states as their primary residence. This led to a town in Michigan removing a tax exemption for their home and charging them for back taxes.

Pulte and his parents did not respond to requests for comment about the matter.

These events highlight the complex interplay between personal financial disclosures, political influence, and regulatory oversight within the U.S. government.