Is there a reversal in the Federal Reserve Cook case? Loan institution documents confirm that his Atlanta property is a "vacation home"

According to a document obtained by Zhitong Finance APP, Federal Reserve Governor Lisa Cook declared a property she purchased in Atlanta as a "vacation home" in an estimated loan document. The document, dated May 28, 2021, was issued by Cook's credit union a few weeks before her home purchase, indicating that Cook had informed the lending institution that the property would not be used as her primary residence prior to the loan. Two independent real estate experts noted that the document appears to contradict other materials cited by Cook's critics, which support allegations that Cook declared both the Atlanta property and another property in Ann Arbor, Michigan, as "primary residences," constituting mortgage fraud. This development comes at a critical time for the Federal Reserve, which will hold a monetary policy meeting next week, where Cook will participate.

Cook has not commented on this matter, but she has previously denied any wrongdoing regarding her properties, which also include a residence in Ann Arbor, Michigan, and an investment property in Massachusetts.

Government officials, led by Federal Housing Finance Agency Director Bill Pulte, have accused Cook of misrepresenting her primary residence to increase her loan and tax burden based on the mortgage documents for her properties in Atlanta and Michigan. Pulte referred the matter to the Department of Justice, leading to a federal investigation, after which President Trump ordered her dismissal.

Cook, who is still serving at the Federal Reserve, has sued the president in protest of her firing. Pulte and the Federal Housing Finance Agency (FHFA) have not responded to requests for comment, and it is unclear whether they are aware of Cook's estimated content regarding the Atlanta loan.

The federal uniform loan documents cited by Pulte's office marked both properties as 'primary residences.' However, the Atlanta property case file shows that this clause has a written exception: 'unless the lender agrees otherwise in writing.' Meanwhile, the loan assessment document prepared by the credit union noted "Property Use: Vacation Home."

Two real estate experts not involved in Cook's representation believe that the document is favorable to Cook's case, as it clearly informed the lending institution of the property's use as a vacation home during the loan application process. Additionally, according to property records and Fulton County tax officials, Cook has never applied for tax-exempt status for the Georgia property as a primary residence.

Another federal form related to Cook's Federal Reserve security clearance application in December 2021 (National Security Form SF-86 Supplement) shows that she declared the Atlanta property as a "second home," which is consistent with the description of "vacation home" in the loan summary, although it does not involve a mortgage, further corroborating her declaration consistency.

It is worth mentioning that the current accusations against Cook have also sparked controversy over Trump's attempts to increase political influence over the independent Federal Reserve. Since returning to the White House this year, Trump has repeatedly criticized Federal Reserve governors for their reluctance to lower interest rates.

This controversy has also implicated the financial situations of other government officials and their families—such as Pulte's father and stepmother, who had their tax-exempt status revoked and were required to pay back taxes due to declaring primary residences on properties in two different states. Currently, Pulte and his parents have not responded to requests for comment