Democrat Adam Schiff, a long-time political rival of Donald Trump, is facing potential criminal charges related to mortgage fraud that reportedly date back several years. After being elected to the Senate in 2024, Schiff sent a letter to the Justice Department in May, responding to a previous inquiry from the Federal Housing and Treasury Agency (FHFA) regarding potentially deceptive practices involving bank documents and assets.
The FHFA, which is an independent agency overseeing entities like Fannie Mae and Freddie Mac, raised concerns this week after Trump publicly alleged mortgage fraud on Schiff’s part. According to reports, an investigation concluded that Schiff might have misrepresented information on five loans from Fannie Mae.
In a social media post, Trump expressed his longstanding suspicions about Schiff, labeling him a “con man.” He claimed that Schiff’s primary residence was stated as Maryland to secure a cheaper mortgage while he was actually working in California. The timeline suggests discrepancies in how Schiff has listed his properties for tax purposes over the years.
Political tensions between Trump and Schiff have been evident for quite some time. This conflict intensified during Trump’s first term when Schiff was prominently involved in the impeachment trials and pushed narratives regarding Russian interference in the 2016 election.
Looking back, Schiff purchased a home in Potomac, Maryland, for $870,000 in 2003, citing it as his primary residence in a mortgage agreement. However, Pennsylvania tax documents and other reports indicate Schiff owned additional properties in California, including a condo purchased in 2009 while serving in the House of Representatives.
Timeline:
- 2003: Schiff buys a home in Potomac, Maryland.
- 2009: He purchases a condo in Burbank, California.
- By 2020: The Maryland property is refinanced and listed as a secondary residence.
- 2023: Schiff announces his Senate run following Diane Feinstein’s decision not to seek reelection.
- 2024: Elections lead to Schiff’s victory in the Senate.
- May 2025: FHFA sends a criminal referral regarding Schiff’s mortgage practices to the Justice Department.
- July 15, 2025: Trump criticizes Schiff over the mortgage allegations.
- July 15, 2025: Schiff counters the claims, suggesting they are politically motivated.
This investigation echoes similar scrutiny faced by New York Attorney General Letitia James regarding her mortgage processes earlier in 2025, indicating ongoing tensions within political circles. Schiff’s office has yet to comment on these new developments.
