The point being that plenty of "sophisticated" and "connected" people do this all the time. Of course, it is OK when Trump supporters do it unlike folks who don't support him.
Treasury chief Bessent once made conflicting mortgage pledges similar to Fed’s Cook—report
Mortgage records reportedly showed that Treasury Secretary Scott Bessent once pledged to make two different houses his “principal residence” at the same time.
Bessent's conflicting agreements had obligated him to treat homes in New York and Massachusetts as his primary residences at the same time in 2007, Bloomberg reported.
However, there is no sign of anything wrong on Bessent's part, the article added, citing mortgage experts.
Yet, Bessent's case is similar to what President Donald Trump has been alleging against Federal Reserve Governor Lisa Cook. Trump had said that he is firing Cook because of allegations that she committed mortgage fraud.
Bill Pulte, a Trump appointee to the agency that regulates mortgage giants Fannie Mae and Freddie Mac, alleged that Cook had claimed two primary residences—in Ann Arbor, Michigan, and Atlanta—in 2021 to get better mortgage terms. Mortgage rates are often higher on second homes or those purchased to rent.
There are other proofs from Bessent's mortgage documents that show that his lender, Bank of America, was not relying on the pledges and had not expected him to occupy both the homes as his primary residences, Bloomberg said.
 In Cook' case, the White House said it will appeal a court decision that prevents Trump from removing her from the Federal Reserve Board of Governors while her lawsuit against Trump proceeds, according to a media report.
In August, Bessent had said that the allegations of mortgage fraud against Cook underscore the need for an internal review of the institution that sets monetary policy and regulates banks.
msn.com |
