Ranking Member Robert Garcia Demands Answers As Director of Federal Housing Finance Agency Politicizes Agency’s Investigations
Washington, D.C. — Today, Rep. Robert Garcia, Ranking Member of the Committee on Oversight and Government Reform, sent a letter to a Acting Inspector General John “Joe” Allen at the Federal Housing Finance Agency (FHFA) demanding answers and internal communications regarding mortgage fraud enforcement priorities between FHFA Director Bill Pulte, FHFA Inspector General, and the White House. This investigation was launched following unprecedented political weaponization of the agency’s investigative functions, where Director Pulte has publicly accused public officials, including Senator Adam Schiff, New York Attorney General Letitia James, and Federal Reserve Governor Lisa Cook, of falsifying mortgage application documents. Small FHFA paperwork issues are fairly common, rarely prosecuted, and have even been connected to three Trump Administration cabinet members, the Attorney General of Texas, and Pulte’s own family.
"Director Pulte is weaponizing the Federal Housing Finance Agency to attack Donald Trump's opponents. The issues he's raising have been committed by multiple members of the Trump cabinet and Director Pulte’s own family,” said Ranking Member Robert Garcia. “We’re in a national housing crisis, and this is an enormous waste of resources. Oversight Democrats are demanding full accountability.”
“The apparent weaponization of FHFA enforcement under Director Pulte’s leadership not only threatens the independence of critical institutions—including, though its conduct, the Federal Reserve—but also undermines the foundational principles of American democracy, in an attempt to intimidate opposition to President Trump,” wrote Ranking Member Garcia in the letter.
The letter also highlights troubling prior connections between Director Pulte and President Trump, calling into question his impartiality as Director of the Federal Housing Finance Agency.
“The circumstances, timing and selection of these investigations raise serious questions about their independence and legitimacy. Director Pulte has a documented history of partisan rhetoric and substantial financial support for President Trump’s campaign, including a $500,000 contribution to a political action committee tied to Pulte’s wife, which failed to be properly disclosed. These discrepancies call into question the Director’s own impartiality and fitness to oversee such investigations. Director Pulte has appeared eager to use his position to attack the Federal Reserve’s independent policymaking by accusing Chair Jerome Powell of “economic warfare against America” and Governor Lisa Cook of mortgage fraud without substantiated evidence. The Director of FHFA has no statutory oversight role over the Federal Reserve, and his conduct appears to be part of a concerted effort to threaten an independent institution to pursue policies desired by President Trump for short-term political reasons,” wrote Ranking Member Garcia in the letter.
Click here to read the letter to Acting Inspector General John “Joe” Allen at the Federal Housing Finance Agency.
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