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Washington – Federal Housing Finance Agency Director Bill pulte has sent a criminal referral too U.S. Attorney General Pam Bondi alleging that Federal Reserve Board of Governors member Lisa D. Cook may have committed mortgage fraud. The referral, sent this week, claims Cook “falsified bank documents and property records to acquire more favorable loan terms.”
Cook also serves on the Federal Open Market Committee, the body responsible for setting the Federal Reserve’s interest-rate policies.
The accusation comes amid scrutiny of Cook, who was confirmed to the federal Reserve Board in may 2022, making her the first Black woman to serve on the board. Her confirmation was met with opposition from some Republicans who questioned her qualifications and views on inflation.
MarketWatch’s Aarthi Swaminathan has investigated Pulte‘s allegations and compared them to similar accusations leveled against opponents of former President Donald Trump. Swaminathan also provided an overview of the various forms mortgage fraud can take, including misrepresenting income, employment, or assets on a loan application.
Residential Real Estate Trends:
— The time it takes to sell a home is increasing, with inventory levels at their highest as the start of the pandemic.
— Home builders are offering sales incentives at a five-year high as they attempt to move newly constructed homes.
— Despite broader market challenges, home-builder stocks are performing well, with certain companies expected to demonstrate strong growth.
Walmart vs.Target:
Walmart Inc. (WMT) has outperformed Target Corp. (TGT) in the stock market over the past year. Through Thursday, Walmart’s total stock return was 31.5%,including dividends,while Target’s shares declined by 36.5%, also with dividends reinvested.
Bill Peters analyzed the factors contributing to Walmart’s increased market share, citing its focus on value and essential goods, as well as its expansion of online services. Target, meanwhile, has faced challenges related to inventory management and shifting consumer preferences.
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-philip van Doorn
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