Lead
A senior housing official in President Donald Trump’s administration has referred California Rep. Eric Swalwell to the Justice Department for a potential federal criminal investigation, according to a person familiar with the matter. The referral, conveyed in a letter to Attorney General Pam Bondi on Wednesday, alleges mortgage and related tax and insurance fraud connected to a Washington, D.C., residence. The case joins similar referrals involving other Democratic officials and has also been sent to the agency’s acting inspector general. Swalwell denies wrongdoing and says he expects politicized prosecutions.
Key takeaways
- The referral was made by Bill Pulte, director of the Federal Housing Finance Agency (FHFA), in a letter sent to Attorney General Pam Bondi on Wednesday.
- Pulte’s submission accuses Rep. Eric Swalwell of possibly making false or misleading statements on loan documents related to a Washington, D.C. primary residence and cites several million dollars in loans/refinancings.
- Swalwell is the fourth Democratic official publicly targeted by FHFA referrals in recent months, joining Letitia James, Adam Schiff and Federal Reserve Governor Lisa Cook.
- The matter has also been referred to the FHFA acting inspector general for additional review.
- Federal prosecutors have not publicly commented and there is no public charge against Swalwell at this time.
- NBC News reported bank records that appear to complicate the administration’s assertions; some investigative details remain contested or unclear.
- Swalwell, a former prosecutor, has said he expects action by the administration and has vowed to continue his lawsuit and public criticism of the president.
Background
The FHFA, led by Bill Pulte, has in recent months forwarded criminal referrals to the Justice Department relating to mortgage filings by prominent Democrats. Those referrals followed an administrative pattern in which the agency flagged alleged misstatements about primary residences when officials applied for mortgages or refinanced properties. Pulte has framed the initiative as routine enforcement of mortgage rules, saying the agency will report suspected fraud regardless of the individual’s status.
Political context matters: these referrals come amid heightened partisan conflict between President Trump and several Democrats who have been vocal critics. Two referrals previously resulted in charges for one target (Letitia James was indicted last month on a 2020 mortgage tied to another Virginia property, per reporting), while others remain under review. Swalwell has a long public record opposing Trump, including work on Russia-related investigations and participation in two impeachment proceedings.
Main event
According to a person familiar with the submission, FHFA Director Bill Pulte sent a letter to Attorney General Pam Bondi on Wednesday alleging that Swalwell may have filed false or misleading statements on loan documents for a D.C. home. The referral asks federal prosecutors to consider mortgage fraud, state and local tax fraud, insurance fraud and any related crimes, and it also was sent to the FHFA acting inspector general for internal review.
Swalwell responded to the report by rejecting the allegations and framing the referral as politically motivated. In a statement to NBC News he noted his long record of criticizing President Trump and said he would not be intimidated from continuing his lawsuit and public remarks. He also quoted Mark Twain to urge better conduct from the president.
The move follows similar referrals by Pulte involving New York Attorney General Letitia James, Sen. Adam Schiff and Fed Governor Lisa Cook. Some targets have denied wrongdoing; in James’s case the Justice Department later brought an indictment tied to a different property. The FHFA has defended its actions as enforcement of mortgage laws and Pulte has said publicly he used public records and documents in the probes.
Separately, NBC News reviewed bank documents that the article reported may undercut aspects of the administration’s claims; meanwhile the Wall Street Journal reported that some Fannie Mae watchdogs were removed while investigating whether Pulte improperly obtained mortgage records. The FHFA disputed those accounts in a response to the Journal.
Analysis & implications
Legally, mortgage fraud prosecutions typically require proof that a borrower knowingly made false statements to obtain credit. Prosecutors must show intent and materiality—elements that can be difficult to prove, especially when disputes center on where someone considers a primary residence. The referral itself does not equate to charges; it asks the Justice Department to evaluate evidence and determine whether federal statutes were violated.
Politically, the referrals are likely to deepen partisan contention. Critics argue that repeated referrals of prominent Trump opponents risk the appearance of selective enforcement and politicization of law enforcement. Supporters counter that alleged mortgage misstatements warrant investigation regardless of political affiliation. How the DOJ responds will affect perceptions of its independence and could shape partisan narratives ahead of future elections.
Institutionally, the FHFA’s pattern of referrals raises questions about internal procedures, data handling and oversight. Reports that agency staffers or external contractors examined private mortgage records have prompted scrutiny; the agency’s referral and the inspector general review will need to address whether investigative steps followed legal and ethical boundaries.
For Swalwell personally, an extended inquiry could consume time and political capital, but a failure to secure charges would reinforce his claims of politically motivated targeting. Conversely, any federal indictment would represent a significant escalation with legal and reputational consequences and would set a precedent for how administrative referrals translate into criminal cases.
Comparison & data
| Person | Referral by FHFA | Allegation | Status (as reported) |
|---|---|---|---|
| Eric Swalwell | Bill Pulte (letter to AG, Wednesday) | Mortgage, tax, insurance fraud (alleged) | Under DOJ/IG review — no charge publicly |
| Letitia James | FHFA (April) | Primary residence discrepancy (alleged) | Indicted last month on a separate 2020 mortgage |
| Adam Schiff | FHFA referral (recent months) | Mortgage-related concerns (alleged) | Under investigation in Maryland |
| Lisa Cook | FHFA referral | Mortgage-related concerns (alleged) | Subject of legal fight reaching Supreme Court |
The table summarizes public referral targets and reported status. Differences in timing and subsequent actions (investigation, indictment, or pending review) show that referrals can have divergent outcomes depending on available evidence and prosecutorial decisions.
Reactions & quotes
“As the most vocal critic of Donald Trump over the last decade and as the only person who still has a surviving lawsuit against him, the only thing I am surprised about is that it took him this long to come after me.”
Rep. Eric Swalwell (statement to NBC News)
Swalwell’s response framed the referral as retaliation and reiterated his intent to continue legal action and public criticism. He has publicly said he expects the administration to pursue him.
“Is it mortgage fraud to say that you live in one area and not another area? Yes, it is mortgage fraud. We’re not going to be intimidated.”
Bill Pulte, FHFA (public remarks)
Pulte has defended the referrals as enforcement of mortgage rules and has said the agency will report suspected fraud irrespective of the subject’s position.
Unconfirmed
- Reports that Fannie Mae watchdogs were removed for probing whether Pulte improperly obtained mortgage records remain disputed and lack independent confirmation.
- NBC’s review of bank documents was reported to undercut parts of the administration’s claims; relevant records and their interpretation have not been fully disclosed publicly.
- Any suggestion that the FHFA referrals are directives issued directly by the White House is not verified by public evidence and remains unconfirmed.
Bottom line
The FHFA referral of Rep. Eric Swalwell to the Justice Department escalates a pattern of agency-initiated probes into high-profile Democrats that has drawn sharp partisan debate. The referral alleges several million dollars in loans and possible false statements about a D.C. primary residence, but a referral is an investigatory step—not a charge—and prosecutors must still determine whether evidence meets legal standards for federal crimes.
Observers should watch for key developments: whether the DOJ opens a criminal case, what the FHFA inspector general finds about agency procedure, and whether independent records substantiate the administration’s allegations. The outcome will influence perceptions of law enforcement independence and could have broader political consequences for both targets and the administration.
Sources
- NBC News (news report summarizing the referral and Swalwell’s statement)
- The Wall Street Journal (news reporting on Fannie Mae watchdog removals; reporting cited in NBC piece)
- Bloomberg (news coverage quoting FHFA director comments)
- CNBC (news coverage of public remarks by FHFA leadership)
- Federal Housing Finance Agency (FHFA) (federal agency; official website)
- U.S. Department of Justice (DOJ) (official federal law enforcement)