Sen. Adam Schiff, D-Calif., is under federal investigation for allegedly falsifying mortgage documents to secure favorable home loan terms, following a criminal referral from the Federal Housing Finance Agency to the Department of Justice, Breitbart reported.
The U.S. Attorney's Office is leading a criminal investigation into Sen. Schiff's real estate dealings in Maryland, according to Fox News. The probe stems from a referral by the Federal Housing Finance Agency (FHFA), which cited evidence of mortgage fraud tied to multiple loan applications involving Fannie Mae-backed mortgages.
The FHFA's referral, dated May 2025 and obtained by Fox News, alleges that Schiff "jeopardizes the safety and soundness of FHFA's regulated entities and the security and stability of the U.S. mortgage market." The letter, signed by FHFA Director William Pulte, accuses Schiff of submitting falsified bank documents and misrepresenting property ownership status to obtain favorable mortgage terms.
The allegations focus on a home Schiff, age 65, and his wife purchased in Potomac, Maryland, in 2003 for $870,000. The couple secured a $610,000 Fannie Mae-backed loan by certifying the property as their primary residence. At the same time, Schiff was actively representing California in Congress and claimed a separate homeowner's exemption for a condo in Burbank, California.
The FHFA alleges that Schiff reaffirmed the Maryland home as his primary residence in refinancing documents filed between 2009 and 2013. However, Schiff's office did not list the Maryland home as a secondary residence until 2020. During this period, Schiff also received a $7,000 property tax reduction in California by declaring the Burbank condo his primary residence.
A memo from Fannie Mae's Financial Crimes Investigations Unit reportedly found "a sustained pattern of possible occupancy misrepresentation" by Schiff across five separate mortgage loans backed by the agency.
Among the documents cited in the Fox News report is a 2011 affidavit signed by Schiff, in which he certified that his Maryland residence was his primary home at that time. These statements, if proven false, could violate federal laws regarding wire fraud, mail fraud, bank fraud, and making false statements to financial institutions, according to the New York Post.
In response to prior inquiries, a spokesperson for Schiff told CNN in 2023 that both properties "were occupied throughout the year" and were not vacation homes. The statement added that each was listed as a primary residence "for loan purposes."
President Donald Trump weighed in on the matter in July, calling Schiff a "scam artist" in multiple Truth Social posts. Trump alleged that Schiff committed "mortgage loan fraud," writing, "Now Shifty should pay the price of prison for a real crime, not one made up by the corrupt accusers!" He also claimed authorities "have him 100 percent."
"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. And this baseless attempt at political retribution won't stop me from holding him accountable. Not by a long shot," the Senator wrote.
Jim Thomas ✉
Jim Thomas is a writer based in Indiana. He holds a bachelor's degree in Political Science, a law degree from U.I.C. Law School, and has practiced law for more than 20 years.
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