Senator Adam Schiff, a senior Democratic figure from California, is under federal criminal investigation by the U.S. Attorney’s Office in Maryland for alleged violations related to mortgage fraud. The inquiry, initially disclosed by Fox News host Laura Ingraham on The Ingraham Angle and attributed to a source from the Trump administration, signals a critical development in the legal scrutiny surrounding the longtime lawmaker.
The investigation follows a referral made by the Federal Housing Finance Agency (FHFA) to the Department of Justice (DOJ), submitted over a month ago. The FHFA accused Senator Schiff of repeatedly falsifying bank documents and property records to secure preferential mortgage terms.
These concerns were formally raised by FHFA Director William Pulte in a letter sent in May to Attorney General Pam Bondi and Deputy Attorney General Todd Blanche. In the letter, Pulte described “alleged misconduct by Schiff,” emphasizing the seriousness of the accusations.
Pulte stated, “Based on media reports, Mr. Adam B. Schiff has, in multiple instances, falsified bank documents and property records to acquire more favorable loan terms, impacting payments from 2003 to 2019 for a Potomac, Maryland-based property.” This claim highlights the prolonged timeframe during which the alleged actions are believed to have occurred.
Senator Adam Schiff has also identified a condominium in Burbank, California, as his primary residence, a claim made as recently as 2023 during his campaign for a U.S. Senate seat. This assertion appears to conflict with earlier filings related to a property in Maryland, raising concerns about the consistency of his residency declarations.
In 2003, Senator Schiff and his wife purchased a home in Montgomery County, Maryland, for $870,000. They later secured a Fannie Mae-backed mortgage of $610,000 at a 5.625% interest rate over a 30-year term. This loan was granted on the condition that the Maryland home would serve as their primary residence. Mortgages for primary residences generally offer lower interest rates, reflecting the lower risk associated with owner-occupied properties.
Reports indicate that Senator Schiff and his wife reaffirmed the Maryland home as their primary residence during multiple refinancing applications submitted in 2009, 2011, 2012, and 2013.
The core of the allegations now focuses on Schiff’s declaration of two different properties as his primary residence. One is the Montgomery County home in Maryland; the other is the Burbank condominium in California.
In a 2011 affidavit, then-Congressman Schiff certified under penalty of perjury that the Maryland property was his primary residence. Fox News has reportedly obtained a copy of the signed affidavit, which is expected to serve as a critical piece of evidence in the ongoing investigation.
FHFA Director William Pulte emphasized the seriousness of these accusations within the context of national financial integrity. “As regulator of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, we take very seriously allegations of mortgage fraud or other criminal activity,” Pulte stated. “Such misconduct jeopardizes the safety and soundness of FHFA’s regulated entities and the security and stability of the U.S. mortgage market.”
Senator Adam Schiff has designated his condominium in Burbank, California, as his primary residence, a statement reaffirmed in 2023 during his U.S. Senate campaign. This claim has prompted scrutiny regarding the consistency of his residency declarations.
In contrast, Schiff and his wife purchased a property in Montgomery County, Maryland, in 2003 for $870,000. They subsequently secured a Fannie Mae-backed mortgage of $610,000 at a 5.625% interest rate over 30 years. This mortgage was granted under the condition that the Maryland property would serve as their principal residence.
Loans for primary residences typically offer lower interest rates, as lenders associate them with reduced financial risk. Public records indicate that the Schiffs reaffirmed the Maryland property’s status as their principal residence during refinancing applications submitted in 2009, 2011, 2012, and 2013.
The apparent contradiction between the California and Maryland residence claims has intensified scrutiny of Senator Schiff’s financial disclosures and mortgage documentation.
During the years in question, Senator Adam Schiff was serving in the U.S. Congress as an elected representative from California. According to FHFA Director William Pulte, the Maryland property was not officially designated as a secondary residence until 2020.
Complicating the matter further, Schiff reportedly claimed a homeowner’s tax exemption on his Burbank, California, condominium during the same period. This exemption is contingent on the property being the owner’s primary residence and, according to Pulte citing media sources, resulted in a reduction of approximately $7,000 from the 1% property tax obligation.
CNN reported that the homeowner’s exemption translated to approximately $70 in annual savings. Nevertheless, the conflicting claims of primary residency for both the Maryland and California properties remain a focal point of the federal investigation.
In 2023, during his Senate campaign, a spokesperson for Senator Schiff stated, “Adam’s primary residence is Burbank, California, and will remain so when he wins the Senate seat.” This declaration has further drawn attention to inconsistencies among financial records, legal documents, and public statements.
In a formal letter, Federal Housing Finance Agency (FHFA) Director William Pulte indicated that Senator Adam Schiff’s alleged conduct may constitute violations of multiple federal criminal statutes. These include laws prohibiting wire fraud, mail fraud, bank fraud, and the submission of false statements to financial institutions.
Pulte wrote that Schiff “appears to have falsified records in order to receive favorable loan terms, and also appears to have been aware of the financial benefits of a primary residence mortgage when compared to a secondary residence mortgage.” The legal implications of these actions could be severe.
This investigation is being viewed in the context of similar high-profile cases. Notably, in the previous year, former Baltimore City State’s Attorney Marilyn Mosby was convicted by a federal jury for making false statements on a mortgage application for a Florida condominium. The comparison underscores the serious legal weight such charges can carry.
A confidential memorandum from Fannie Mae’s financial crimes investigations unit, reviewed by The Washington Post, has revealed findings relevant to the ongoing investigation into Senator Adam Schiff. The memo concluded that Schiff allegedly engaged in “a sustained pattern of possible occupancy misrepresentation” across five Fannie Mae-backed loans.
While the document reflects the seriousness of the concerns, it notably refrains from labeling the conduct as “fraud.” Instead, it consistently refers to “possible occupancy misrepresentation,” a legal distinction that may influence the course of any potential proceedings.
The memo also questioned the plausibility of the Burbank condominium serving as the family’s primary residence. It described the unit as a “691 square foot, 1-bedroom” space, and stated that such a layout “appears unsuitable for a family of four,” thereby casting doubt on the stated intent of occupancy.
It is also noted that all loans implicated in the matter have since been fully repaid. Although this does not negate the allegations of misconduct, it provides context to the financial circumstances surrounding the case.
Senator Adam Schiff’s office did not immediately respond to requests for comment from Fox News Digital or the Daily Caller News Foundation when initial reports emerged. However, Senator Schiff has since publicly addressed the allegations.
He has firmly denied any wrongdoing, characterizing the investigation as an act of “political retaliation” allegedly driven by the Trump administration. This response situates the ongoing inquiry within the broader context of Schiff’s well-documented and frequently adversarial relationship with former President Donald Trump.
On the social media platform X, Senator Schiff wrote, “This is just Donald Trump’s latest attempt at political retaliation against his perceived enemies. So it is not a surprise, only how weak this false allegation turns out to be.” He further claimed that the accusation was a “smear” intended to divert attention from what he referred to as Trump’s “Epstein files problem.”
A spokesperson for Senator Adam Schiff stated that the lenders involved in the financing of both his Maryland and California residences were fully informed of his intention to occupy both properties throughout the year while fulfilling his duties in public office. The spokesperson emphasized that neither property was designated as a “vacation home.”
In a 2023 statement, Senator Schiff described his living arrangements as consistent with the practices of many members of Congress. “I think just about every member of Congress has a residence in their state and a residence back in D.C. since we’re in session much of the week, and people make a family decision where they’re going to have their kids,” he explained. He added, “Our principal residence, our primary residence, is in California and always has been and always will be.”
Reflecting on the political context, Schiff remarked, “Since I led his first impeachment, Trump has repeatedly called for me to be arrested for treason. So in a way, I guess this is a bit of a letdown.” The comment underscores the ongoing and adversarial relationship between Schiff and former President Donald Trump.
Former President Donald Trump has openly criticized Senator Adam Schiff in connection with the ongoing mortgage fraud allegations. Trump has publicly labeled Schiff as a “scam artist” and a “crook,” primarily through posts on his social media platform, Truth Social.
In one post, Trump stated, “Adam Schiff said that his primary residence was in MARYLAND to get a cheaper mortgage and rip off America, when he must LIVE in CALIFORNIA because he was a Congressman from CALIFORNIA. I always knew Adam Schiff was a Crook.” He further alleged, “The FRAUD began with the refinance of his Maryland property on February 6, 2009, and continued through multiple transactions until the Maryland property was correctly designated as a second home on October 13, 2020.”
Trump concluded his remarks by emphasizing the gravity of the accusations, stating, “Mortgage Fraud is very serious, and CROOKED Adam Schiff (now a Senator) needs to be brought to justice.” He has also connected this investigation to Schiff’s previous oversight of phone records involving Trump’s son and Schiff’s role in the presidential impeachment proceedings.
Barbara McQuade, former U.S. Attorney for the Eastern District of Michigan, offered insight into the broader political implications of the ongoing investigations. She described it as “awfully coincidental” that individuals critical of Donald Trump have increasingly faced scrutiny related to their home loans.
While acknowledging that public officials are subject to the same legal standards as others, McQuade criticized the Department of Justice’s approach, stating, “They have undermined the credibility of the department by pursuing what appears to be retribution against Trump’s adversaries.” She emphasized, “You do not receive special treatment simply because you hold public office.”
The allegations against Senator Adam Schiff were initially brought to light by Christine Bish, a Sacramento-based real estate investigator and Republican congressional candidate. Bish reportedly filed an ethics complaint against Schiff based on the discrepancies in his property declarations, a fact confirmed by Just the News.
The federal criminal investigation into Senator Adam Schiff’s mortgage practices marks a significant development involving a prominent political figure known for his influential role in national affairs. The allegations, which focus on inconsistent declarations of primary residence and potential financial misrepresentation, raise critical concerns regarding compliance with legal and ethical obligations.
As the U.S. Attorney’s Office in Maryland advances its inquiry, all aspects of Senator Schiff’s residential claims and their influence on his mortgage agreements will be subject to thorough examination. The results of this investigation will have far-reaching consequences for Senator Schiff’s political career and the public’s broader trust in the accountability of elected officials.
