As we previously covered, a criminal referral from the Federal Housing Finance Agency (FHFA), which regulates Fannie Mae, has been sent to the Justice Department for additional inquiry into Senator Adam Schiff (D-CA).

According to a letter Fox News accessed on Wednesday, FHFA Director William Pulte explained that media sources suggest Mr. Adam B. Schiff falsified banking and property documents on several occasions. This allegedly enabled him to secure more favorable loan deals for a property in Potomac, Maryland, affecting payments from 2003-2019. As the overseer of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, the FHFA is committed to tackling claims of mortgage fraud and any criminal activities. Such actions pose risks to the integrity of FHFA’s regulated groups and the stability of the national mortgage market.

Fox News has reported that Pulte on Monday reviewed a memorandum from Fannie Mae’s financial crimes investigations, revealing allegations against Schiff. The investigation indicated a “sustained pattern of possible occupancy misrepresentation” associated with five Fannie Mae loans.

As I said on Tuesday, these allegations could spell real trouble for Schiff. We should note that at this point these are still only allegations. 

Schiff is now officially freaking out. He posted an almost five-minute video on X, attacking President Donald Trump for saying things about him. Funny that, given that Schiff was the guy who kept claiming he had “Russia collusion” evidence. 

This is all kinds of projection. He rails against that people might have to go to the trouble of defending themselves. Seriously? You mean like President Trump had to? But if you want to skip ahead to around 3:00, he mischaracterizes what the allegation is, saying Trump is attacking him for having two homes.

Donald Trump is calling for me to be criminally prosecuted.

It’s nothing new – but his attacks on the rule of law are more dangerous than ever. pic.twitter.com/UkAkr2Lsql

— Adam Schiff (@SenAdamSchiff) July 15, 2025

Of course, that’s not the problem, and it isn’t something that Trump has made up. It’s an issue that has been reported on for some time. Notice he doesn’t mention the criminal referral because that would upset the narrative he’s pushing about Trump. Virtually every response on X was anti-Schiff. I don’t know who he was hoping to convince with his rant, but it didn’t look like he was convincing anyone. 

People had a lot of fun posting “No one is above the law” at Schiff. 

“No one is above the law.” – Adam Schiff https://t.co/CChrH11xqQ

— Joe Concha (@JoeConchaTV) July 16, 2025

Schiff also ducked questions when asked about the allegations by a Fox reporter.

Schiff ignored the questions, simply responding, “Have a nice day.”

I think we’re seeing something more than a strongly worded letter going on here. We’ll keep informed about any DOJ action on the question. 

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