The Trump administration’s criminal reference addressed to the New York Attorney General Letitia James for the reported mortgage fraud probably never developed if it were not for the years of the Democrats to attack the President in the Court, an attack by New York’s astate.
“To be perfectly Franco, this is a retaliation case presented by the president of what the Attorney General did in recent years,” the New York City lawyer, Pierre Debas, partner and founding member of Real Estate Lawnomer Debas. “Botos, honestly, are very weak cases.
“The case of the attorney general who appeared against Donald Trump was honestly a pure manipulation of the legal system, and was ridiculous,” he continued, referring to the case of civil fraud that she presented against Trump. “Something that is never tasks placed in the history of New York that was isolated in a particular person for a political purpose.
“Now, on the other hand, this has the same purpose, right? This is the form of the president of the retaliation of Seijs against the attorney general for something that, in reality, is, although it considers mortgage fraud, it is not criminal,” he continued. “And it is not something that would have brought to Bone if the Attorney General would not have followed a similar case under merit against the president a few years ago.”
The Trump administration refers to NY Ag Letitia James for possible prosecution on accusations of mortgage fraud
The New York Attorney General, Letitia James, speaks duration of a press conference on September 21, 2022 in New York. (Brittery Newman, File/The Associated Press)
The Federal Housing Finance Agency (FHFA), an independent federal agency that excessive Fannie Mae, Freddie Mac and the Federal Loan Banks System for Tributes, sent a criminal referral to the Department of Justice on Monday, arguing the prosecutorney Mortornney Mortornney Mortornney Mortornney Loans favorable.
In the heart of the case is a Norfolk house, Virginia, James bought in 2023, which he identified in mortgage documents and a Fannie Mae/Freddie Mac form as a property that would be his main residence, according to the dates of the FHFA dates. James is legal required to live in New York as an elected official throughout the state in the state of the empire, adds the letter.
The identification of a house as the main residence versus a secondary house or a holiday house comes with financial incentives, Debas explained, because the banks will sacrifice lower interest rates to primary residences, with housing owners with less likely to breach loans compared to a second house.
“As a real estate lawyer, we represent all the main loan institutions in the country,” he said. “And a common subscription requirement for banks is to solidify what the use of property will be, that is, it is a main residence, a second property or investment property.
“And the reason why banks do it is that there is clearly a higher breach rate when it comes to investment properties and second homes instead of primary residences.”
The Trump administration’s criminal reference addressed to the New York Attorney General Letitia James for the reported mortgage fraud probably never developed if it were not for the years of the Democrats to attack the President in the Court, an attack by New York’s astate. (Seth Wenig, Pool/The Associated Press)
“The reason is people, you know, they don’t want to leave their homes,” he said. “Now, a second home investment property may be a little more inclined to throw the keys to the bank.”
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Then, the bank requires that the borrower firm an affidavit that confirms that the house that is acquired will be used as the main residence, he explained.
“Now, if that is not the intention or that is in fact inaccurate, and you sign that agreement, in fact you are committing mortar fraud,” he said. “And the bank depends on that agreement to provide the loan. Now, would they have granted a loan if it were a second home?
The Bank’s resource discovered this mortgage fraud related to the erroneous identification of a property as a main residence to obtain more favorable loan terms is “simply calling the loan,” he said.
The State Attorney General Letitia James is a long -time political enemy or President Donald Trump, who campaigned for the attorney general in 2018 by promising to aggressively pursue legal charges against Trump if he is chosen. (Lev Radin/Pacific Press/Lightrocket through Getty Images)
“They would call the loan, they would force him to pay it on a certain date,” he said. “If you cannot sell the property or take another liquidity that the loan must pay, they have the right to follow a mortgage execution action. This right will be granted.
The real estate lawyer of New York City added that this type of fraud is common.
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“To what extent is fraud? To be honest with you, this is something very common that takes place in the real estate market,” he said. “I am not saying that it is correct. I am not saying Letitia James … the total scope of the law should not be applied to it. But it is something that takes place. Because the loan is current, the bank has Stenally’s Stenally Fra, which is affirmed to any FR, which has gone to fraud.
You should argue that this type of fraud does not reach the level of criminal activity because the bank can call the loan, Recover the property or force it to liquidate it.
“The case of the attorney general who appeared against Donald Trump was honestly a pure manipulation of the legal system, and was ridiculous,” said New York City Prosecutor Pierre Debas, referring to Civincaght Aginght. (Michael M. Santiago/Getty Images)
James’s office told the New York Times that a separate loan application for 2023 Norfolk, Virginia, the purchase of housing indicated that he would not live in full -time property, and that mortgage the FirstTy requirement.
James is a long political enemy of Trump who campaigned for the attorney general in 2018 by promising to aggressively pursue legal charges against Trump if he is chosen, adding that he would expose the “scammer” after his victory that year.
His office leveled almost 100 legal challenges against Trump’s first administration and added after his second presidential victory in 2024 that he would continue to challenge him continuously in the courts to “defend the rights of New Yorkers and the rule of law.”
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At all times, James followed a case of civil fraud against Trump and the Trump organization to inflate the values of the properties to obtain more favorable loans, insurance coverage and tax deductions, which resulted in a $ 454 million trial in 2024.
A spokesman for James’s office told Fox Digital Thisday that “several times the duration of the trial of the Attorney General Trump and the Trump organization during years of financial fraud, President Trump’s prosecutor presented the argument that motivated Argumer’s argument.
“Every time, the judge rejected that argument and also sanctioned the lawyers to do so,” added the spokesman. “Attorney General James won his lawsuit, and the sentence against President Trump now exceeds half a billion dollars.”
Fox News collaborator Jonathan Turley, said the IONY of Trump’s criminal reference about the accusations of James Fuding’s numbers to obtain more favorable loans after looking for Trump for something similar.
“This is a person who prosecuted Trump for everything without starting a label of a mattress, and among the positions that were presented in New York, not only in the civil case but also in the criminal case, he was making the financial institutions false,” on Tuesday of Shalal de Shalal, on Tuesday of Ingraham. ” This seems quite simple. “
The administration is investigating the accusations that the FHFA underlines while stressing that “no one is above the law,” said White House spokesman Harrison Fields, in Newsmax on Wednesday.
“With the Democratic party, they love to throw stones in glass houses when they realize that they are committing the crimes with those who try to go real,” Fields said.
“So, this is now a criminal reference that the Department of Justice of the Attorney General Pam Bondi will have to look,” he added. “The accusations of the FHFA are very serious. We are going to see them, and no one is above the law. And Tish James would like to say that about the president, but Shelld looks in the mirror and realizes that he is to Ifour and you have to have to do so that it does not scratch as a justice that does not want to do so, perhaps, perhaps, perhaps, perhaps, perhaps, perhaps, what does not do so Do not.
NY Ag Letitia James responds to accusations of mortgage fraud
The criminal reference also cited the informed adjustments with the properties of James, including a purchase in 2001 of a Brooklyn property. The occupation certificate lists property as a residence of five units, while James mortgages list the property as four units.
You should explain that the properties of five units are identified as commercial properties, which would require a commercial loan that has higher interest rates than a residential loan. However, banks carry the burden of confirming whether a building is commercial or residential.
“If the borrower has the ability to tell the bank or convince the bank that there are four real units, it is for their financial benefit,” he said. “Now, when an occupation certificate is observed, the buildings department issues the occupation certificate, which tells the legal use of the building.
Letitia James’s office leveled almost 100 legal challenges against Trump’s first administration and said that after his second presidential victory in 2024, he would continue to challenge him in court to “defend the rights of New Yorkers and the rule of law.” (Gary Hershorn/Getty Images)
“This is a home from five families,” he said. “Now, this is Uquivocally a commercial property. The load was in the bank to confirm this, but the borrower had, in fact, a concrete knowledge … It can be argued that the mortgage fraud took place in the application of this law.”
James’s office told the New York Times that a rider attached to Brooklyn’s mortgage stated that the building was four units, not five.
Debas added that before the collapse of the 2008 market, there was a lot of “shadow” in the world of mortgages.
“As an elected official … there must be a visiting standard for honesty and links through their legal requirements that do not counterfeit documents or commit fraud,” said Debbas.
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While specifically reflecting on the alleged mortgage fraud of Virginia Home, he added: “Now, how would this HERI seat affect as attorney general of the state of New York? At the end of the day, that will be determined. The point of view of the mortgage is certainly a mortgage fraud, but, in my opinion, it does not guarantee any criminal activity.”
A spokesman for James’s office said Wednesday that “he has focused every day to protect New Yorkers, especially when this administration armed the federal government against the rule of law and for what Whhe Who Who Who Who Who Who Notathed. Digital reported previously.
