The feud between a Bay Area Congressman and the director of the Federal Housing Finance Agency (FHFA), Bill Pulte, is intensifying.
On Saturday, Reuters reported that previous allegations of mortgage fraud levied against U.S. Representative Eric Swalwell, D-Calif., by Pulte were prompted by a conservative media outlet article published on Nov. 12.
The article questioned Swalwell’s integrity “and ability to serve in Congress,” due to the writer being unable to find proof he was a California resident.
Pulte sent the article to his agency’s inspector general for possible criminal investigation.
Pulte formally referred Swalwell to the U.S. Department of Justice (DOJ) on November 13, accusing the first-term congressman of potential mortgage fraud, according to a lawsuit filed by Swalwell against Pulte, Fannie Mae and Freddie Mac, on whose boards of governors Pulte also serves as chairman.
Swalwell, a resident of California, claims that various privacy laws and his First Amendment rights were violated by Pulte and the agencies he oversees. He claims that an affidavit attached to the mortgage agreement cited by Pulte in the DOJ referral clarified that the home in question would be his wife’s primary residence.
According to Reuters, Pulte urged the agency’s acting inspector general to take all appropriate action “including – if warranted – engagement with the Department of Justice regarding potential mortgage, tax or other fraud related to the representations made in mortgage documents or other items in the below article.”
Swalwell, who represents a district in northern California’s East Bay, is also a gubernatorial candidate — a position that requires his legal residency in the state. He is also a frequent critic of President Donald Trump.
On Sunday morning, Swalwell shared a Reuters reporter’s social media post, stating: “Save your documents @pulte. We will see you soon. Next time, don’t come for me unless I call for you.”
According to Reuters, the communications between Pulte and the FHFA acting inspector general were obtained by Democracy Forward — a legal organization with prominent Democrats on its board — and reviewed by Reuters.
This is not the first time Pulte has deployed mortgage fraud allegations to discredit perceived political foes. U.S. Senator Adam Schiff, D-Calif., and New York Attorney General Letitia James have each faced such accusations.
Two federal grand juries have decided against indicting James on the alleged fraud.
Federal Reserve Board Governor Lisa Cook is also facing mortgage fraud allegations, which led Trump to try to fire Cook from her position on the board in a bid to gain more influence over the central bank — the first time a president has every tried to fire a Fed official.
The U.S. Supreme Court will hear arguments concerning Cook’s removal on Jan. 21, 2026, after ruling previously that Cook could continue to serve in her role pending the outcome of the legal proceedings.
Scotsman Guide’s messages to Pulte, the FHFA’s inspector general and Swalwell requesting comment were not returned by the time of publication.
