The U.S. Attorney’s Office in Maryland is investigating Sen. Adam Schiff (D-Calif.) for alleged mortgage fraud, following a criminal referral from the Federal Housing Finance Agency sent to the Department of Justice in May 2025.

The probe centers on accusations that Schiff falsified bank documents and property records to secure favorable loan terms for a Potomac, Maryland, property between 2003 and 2019.

FHFA Director William Pulte detailed the allegations in a May 27 letter to Attorney General Pam Bondi and Deputy Attorney General Todd Blanche.

"Based on media reports, Mr. Adam B. Schiff has, in multiple instances, falsified bank documents and property records to acquire more favorable loan terms, impacting payments from 2003-2019 for a Potomac, Maryland-based property.
Pulte stated. "As regulator of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, we take very seriously allegations of mortgage fraud or other criminal activity. Such misconduct jeopardizes the safety and soundness of FHFA’s regulated entities and the security and stability of the U.S. mortgage market."

According to Pulte’s letter, Schiff and his wife purchased the Maryland home in 2003 for $870,000, securing a $610,000 Fannie Mae-backed mortgage at a 5.625% interest rate over 30 years.

The couple certified the property as their primary residence in the initial agreement and in refinancing filings in 2009, 2011, 2012, and 2013.

A 2011 affidavit, obtained by Fox News, shows Schiff’s signature certifying the Maryland property as his primary residence. However, Schiff, who has represented California in Congress since 2001, did not list the Maryland home as a secondary residence until 2020.

Complicating the allegations, Schiff simultaneously claimed a Burbank, California, condominium as his primary residence, securing a $7,000 homeowner’s tax exemption on its 1% property tax, Pulte’s letter noted.

A 2023 statement from Schiff’s spokesperson to CNN during his Senate campaign stated, "Adam’s primary residence is Burbank, California, and will remain so when he wins the Senate seat.”

The spokesperson added, “Adam’s California and Maryland addresses have been listed as primary residences for loan purposes because they are both occupied throughout the year and to distinguish them from a vacation property."

A Fannie Mae memo, received by Pulte, concluded that Schiff engaged in "a sustained pattern of possible occupancy misrepresentation" across five Fannie Mae loans.

Pulte’s letter suggests Schiff’s actions may violate federal laws prohibiting wire fraud, mail fraud, bank fraud, and false statements to financial institutions.

"Mr. Schiff appears to have falsified records in order to receive favorable loan terms, and also appears to have been aware of the financial benefits of a primary residence mortgage when compared to a secondary residence mortgage," the letter states.

The allegations echo a 2024 case in which former Baltimore City State’s Attorney Marilyn Mosby was convicted of false statements on a mortgage application for a Florida condominium.

When reports of the referral surfaced in July, Schiff posted on X, "Since I led his first impeachment, Trump has repeatedly called for me to be arrested for treason. So in a way, I guess this is a bit of a letdown. And this baseless attempt at political retribution won’t stop me from holding him accountable. Not by a long shot."

He added, "This is just Donald Trump’s latest attempt at political retaliation against his perceived enemies. So it is not a surprise, only how weak this false allegation turns out to be. And much as Trump may hope, this smear will not distract from his Epstein files problem."

A Schiff spokesperson stated in July, "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 homes."

No formal charges have been filed against Schiff to date, and the investigation remains ongoing.