Bill Pulte, a federal housing official, has publicly accused Federal Reserve Governor Lisa Cook of improperly claiming homestead exemptions—tax breaks for owners on their primary residence—on more than one property. However, a Reuters investigation found that Pulte's own father and stepmother, Mark and Julie Pulte, have declared primary residency for two upscale homes in Michigan and Florida since 2020, a move that tax officials in those two states say generally isn't allowed. The Pultes' exemption in Michigan was revoked after Reuters brought the dual claims to the attention of local officials, who confirmed the property had also been rented out, another violation of the rules. Revised tax bills, including penalties, are now being issued.
In Florida, authorities said the exemption there predates the Michigan claim and any conflict would have to be addressed in Michigan. Attempts to contact the couple for comment were unsuccessful, and officials at the Federal Housing Finance Agency, the agency led by Bill Pulte, didn't respond to requests for comment. The controversy is notable because Bill Pulte has been outspoken in his criticism of Cook, accusing her on social media of "financial fraud" and highlighting her rental of a property designated as a primary residence. Cook, who has denied any wrongdoing, maintains her conduct was not fraudulent.
Earlier this week, ProPublica posted its investigation of three Trump Cabinet members who may have similar mortgage-loan issues. MSNBC notes that Pulte is also seemingly dismissing allegations of mortgage fraud at the hands of Texas' Republican Attorney General Ken Paxton. "Unless it's been made public by lawyers ... or in criminal referrals, I'm not going to comment on any specific situation," Pulte told CNBC. "If things are made public or if we decide to make them public, then I will talk about it." He also tells that outlet it would be "reckless" for him to reveal where he got his "tip" on Cook.
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