Bill Pulte, who runs the Federal Housing Finance Agency under President Donald Trump, confirmed Thursday that he filed a criminal referral against Federal Reserve Governor Lisa Cook for alleged mortgage fraud.

Cook, a former Biden pick, has come under fire after Federal Housing Finance Agency Director Bill Pulte accused her of mortgage fraud. Pulte claimed Cook improperly declared two different homes as her primary residence at the same time. He sent a criminal referral to the Department of Justice, which confirmed Thursday it would investigate.

Philadelphia Fed researchers in a 2023 report assessed the number of “fraudulent investors” in the mortgage market, which they defined as those who had more than one owner-occupied home purchase loan within four quarters after the first one was originated.

President Trump has been using the bully pulpit of his presidency to go after the Federal Reserve with a vengeance, and Federal Housing Finance Agency (FHFA) chief William Pulte has acted as his megaphone-in-chief throughout his pressure campaign.

President Donald Trump has threatened to fire Federal Reserve Governor Lisa Cook if she does not resign over mortgage fraud allegations.

Federal Housing Finance Agency Director Bill Pulte accused Cook of mortgage fraud this week, alleging she claimed two properties as her primary address.

A few weeks ago, Bill Pulte appeared to be struggling to maintain influence with the White House. The head of the Federal Housing Finance Agency was having to jostle for power in the planning for Fannie Mae’s and Freddie Mac’s potential initial public offering.

Bill Pulte’s net worth in 2025 reflects his long-standing success as a businessman, investor, and philanthropist. Known as the grandson of homebuilding pioneer William J. Pulte, Bill has carved his own path in finance and housing policy.