Sen. Adam Schiff’s mortgage dealings are under fire as the DOJ digs into allegations of fraud. The probe centers on Schiff’s paperwork for a Maryland home purchase from the early 2000s, raising questions about his integrity, as Fox News reports. This isn’t just a paperwork snafu -- it’s a potential legal quagmire for a vocal Trump critic.
In 2003, Schiff bought a Potomac, Maryland, home for $870,000 with a $610,000 Fannie Mae-backed mortgage at 5.625% over 30 years, while later claiming a California condo as his primary residence, sparking accusations of falsifying documents to secure better loan terms. The FHFA flagged this to the DOJ in 2023, citing “multiple instances” of alleged document fraud from 2003 to 2019. It’s a classic case of trying to game the system, and now the paper trail might bury him.
Schiff’s 2009 purchase of a Burbank, California, condo added fuel to the fire. He claimed a $7,000 homeowner’s tax exemption on the condo, listing it as his primary residence, while simultaneously reaffirming the Maryland property as his principal residence in mortgage refinancing documents from 2009 to 2013. Double-dipping on primary residences? That’s a bold move for a supposed public servant.
The FHFA’s 2023 letter to the DOJ alleges Schiff falsified banking and property documents to secure favorable loan terms. Mortgage companies, scarred by the 2008 financial crisis, keep meticulous records, giving investigators a clear path to follow. If Schiff thought he could outsmart the system, he underestimated the long arm of those records.
In 2020, Schiff refinanced his Maryland mortgage, finally listing the property as a secondary residence. This shift came after years of allegedly playing fast and loose with residency claims. The timing smells like a convenient course correction once scrutiny loomed.
CNN broke the story in 2023 during Schiff’s Senate campaign, thrusting his mortgage discrepancies into the public eye. Schiff’s campaign weakly claimed both properties were listed as primary residences “for loan purposes” since they were occupied year-round. That excuse sounds like a flimsy attempt to dodge accountability.
President Donald Trump didn’t hold back, blasting Schiff on Truth Social for alleged mortgage fraud. “I have always suspected Shifty Adam Schiff was a scam artist,” Trump posted, pointing to the Maryland refinance in 2009 as the start of the alleged fraud. Trump’s not wrong to call out a politician who’s built a career on sanctimonious lectures while potentially bending the rules himself.
Trump doubled down, accusing Schiff of defrauding banks, insurance companies, and the federal government through mortgage loan fraud. “He has a lot of other things far worse than that,” Trump added at a White House event. The former president’s knack for spotlighting his rivals’ missteps keeps Schiff squirming.
Schiff’s response? He dodged Fox News Digital’s questions, refusing to address the allegations head-on. His silence speaks volumes -- when cornered, Schiff clams up faster than a bureaucrat hiding bad news. It’s not the look of an innocent man.
The DOJ, now under Trump’s “no shrinking violets” leadership, is likely combing through Schiff’s paper trail but hasn’t confirmed an investigation. “The one thing they don’t want to do is to bring a case that fails,” said Cornell Law School professor William Jacobson. A botched prosecution against a high-profile figure like Schiff would be a political disaster, so the DOJ is playing it smart.
Jacobson expects the DOJ to focus on documents, not hearsay, given the robust records mortgage companies maintain. “There will be many things that are documentable, and not ‘he said, she said,’” he noted. Schiff’s paper trail could be his undoing, as every refinance and tax exemption is etched in black and white.
Schiff’s team insists his primary residence is in Burbank and will stay that way if he wins his Senate seat. Yet, claiming two homes as primary residences for financial gain reeks of hypocrisy for a politician who led Trump’s first impeachment in 2020. Schiff’s moralizing doesn’t hold up when his own house is out of order.
Schiff cried foul on X, calling the allegations “baseless” and Trump’s “latest attempt at political retaliation.” “This smear will not distract from his Epstein files problem,” Schiff sniped. Nice try, but deflecting to Trump’s controversies won’t erase Schiff’s paper trail.
Jacobson sees irony in Democrats’ complaints about Trump weaponizing prosecutors. “They have used every tool available to try to destroy him,” he said, noting a decade of lawfare against Trump. Schiff’s indignation rings hollow when he’s been a ringleader in that crusade.
The DOJ’s next moves remain unclear, but Schiff’s history as House Intelligence Committee chair and his 2023 House censure for promoting Trump-Russia collusion claims make him a prime target. With Trump’s DOJ circling, Schiff’s mortgage mess could haunt his Senate tenure. Karma has a way of catching up, and Schiff might soon learn that lesson the hard way.
