www.zerohedge.com By Tyler Durden
(Update: 2215ET): A third property?
On Thursday night, Federal Housing Finance Agency (FHFA) Director Bill Pulte dropped a second criminal referral against Federal Reserve Governor Lisa Cook based on evidence that she entered into a 15-year mortgage on a third property which she listed as her “Second Home.”
On an ethics form signed with the government, however, Cook noted it as an “investment/rental property.”
Why is this bad and not simply a ‘clerical error’? As Pulte notes, “Representing the property as a second home may have allowed Cook to secure a lower “Second Home” mortgage down payment and rates, as investment properties typically carry higher down payments and higher rates due to increased risk…
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