In a fiery online outburst, President Donald Trump has accused Senator Adam Schiff, D-Calif., of engaging in mortgage fraud by allegedly misrepresenting his primary residence to secure favorable loan terms.
According to Fox News, the controversy erupted on Tuesday when Trump used Truth Social to claim Schiff lied about his Maryland home's status for over a decade, a charge Schiff has dismissed as baseless and politically motivated.
The clash between Trump and Schiff, who have a long history of animosity, began anew with Trump's Tuesday morning post on Truth Social. In the post, Trump alleged that Schiff committed fraud by listing a Maryland property as his primary residence starting in 2009. Trump claimed this was done to obtain better mortgage rates and terms from a lender under federal conservatorship since the 2008 financial crisis.
According to Trump, Schiff maintained this designation until October 13, 2020, when he reclassified the Maryland home as a secondary residence. Trump further stated that Fannie Mae's Financial Crimes Division had uncovered what he described as a sustained pattern of possible fraud. However, Trump provided no evidence to substantiate these serious accusations against the California senator.
Schiff, who served as a congressman before becoming a senator, purchased the Maryland property in 2009. A report by Just the News revealed that Schiff cited both a California condo and the Maryland home as his "principal residence" on various mortgage and election forms dating back to 2003.
In specific instances—2009, 2011, and 2013—Schiff refinanced the Maryland property while declaring it his main home, despite listing his Burbank, California, residence as primary in other documents.
The issue of dual residency declarations was first flagged by Christine Bish, a Sacramento-based real estate investigator and former Republican congressional candidate. Bish filed an ethics complaint against Schiff in Congress over these discrepancies. Fannie Mae, the entity allegedly involved, declined to offer any comment on the claims.
Later on Tuesday, when pressed by reporters, Trump appeared to dial back his initial strong wording on the fraud charge. "I don't know about the individual charge, if that even happened, but Adam Schiff is a serious lowlife," Trump remarked to Fox News' Peter Doocy. He added, "I'd love to see him brought to justice," maintaining his critical tone despite the softened accusation.
Schiff swiftly countered the claims, labeling them as unfounded and a form of political retaliation. In a video response on Tuesday, Schiff called the accusations "baseless" and "without merit." "Since I led his first impeachment, Trump has repeatedly called for me to be arrested for treason," Schiff stated on X.
"So in a way, I guess this is a bit of a letdown," he continued. "And this baseless attempt at political retribution won’t stop me from holding him accountable. Not by a long shot," Schiff added. A spokesperson for Schiff also defended his transparency regarding the properties to Fox News Digital.
"The lenders who provided the mortgages for both homes were well aware of then-Representative Schiff's Congressional service and of his intended year-round use of both homes, neither of which were vacation home," the spokesperson explained. "He has always been completely transparent about this," the spokesperson emphasized. Legally, Schiff was not barred by the Constitution from listing the Maryland home as his primary residence during his congressional tenure, as he only needed to be an "inhabitant" of California at the time of his election.
The backdrop to this dispute is a years-long rivalry between Trump and Schiff, dating back to when Trump first took office. Schiff, as a key figure on the House Intelligence Committee, was central to the congressional investigation into the now-discredited theory of Trump's collusion with Russia during the 2016 election. During that probe, Schiff repeatedly suggested there was significant evidence of collusion, though the Mueller report later found no criminal conspiracy.
Trump and his Republican allies accused Schiff of leaking classified information during the Russia investigation, a charge that further strained their relationship. Schiff also served as the lead House impeachment manager during Trump's first impeachment trial, which centered on a phone call with Ukrainian President Volodymyr Zelenskyy. He voted to impeach Trump on both occasions, solidifying his role as a prominent adversary.
Additionally, Schiff was a member of the House Select Committee investigating Trump's involvement in the January 6 attack on the Capitol. This history of high-profile clashes provides context for the current allegations and Schiff's assertion that Trump's claims are politically driven. As this story unfolds, the lack of concrete evidence and the deep-seated animosity between the two figures suggest the debate over Schiff's mortgage practices will remain contentious.