Federal Reserve Governor Lisa Cook is defending against allegations of mortgage fraud after documents revealed she identified an Atlanta condominium as a “vacation home” in a loan estimate, rather than a primary residence.

These disclosures emerge in the midst of claims by the Trump administration that Cook had simultaneously listed her Atlanta and Michigan homes as primary residences to secure favorable mortgage terms.

In the key document dated May 28, 2021, a loan estimate from a credit union shows property use for the Atlanta unit marked as “vacation home”.

Another form—an SF-86 used for government security clearance—lists the same condo as a “second home”.

Cook never claimed a homestead tax exemption on the property, a fact that aligns with her assertions that it was not her primary residence.

The allegations were advanced by William “Bill” Pulte, director of the Federal Housing Finance Agency, who referred the matter to the Department of Justice.

Pulte claims Cook misrepresented her residency status on mortgage and disclosure forms involving properties in Georgia, Michigan, and Massachusetts.

Cook has filed a lawsuit to block her removal, arguing the administration lacks legal cause.

A federal judge has temporarily blocked Cook’s firing, citing that the claims may not satisfy the “for cause” standard required by the Federal Reserve Act.

Cook denies wrongdoing, maintains the discrepancies reflect mistakes or misinterpretations, and stresses her commitment to compliance with all disclosure requirements.

Supporters of Cook and experts consulted note that mortgage applications often contain clauses about intended occupancy and residency requirements that are subject to lender approval or specific conditions.

In this case, those clauses appear in cook’s loan paperwork, bolstering her claim that she followed the proper process.

The legal battle is ongoing ahead of a key Federal Reserve meeting, with interest rate policy and central bank independence also in focus.