The report comes as the White House pushes federal governor Lisa Cook to fire him for similar reasons.
Released on September 17, 2025
US Treasury Secretary Scott Becent agreed to occupy two different homes at the same time as his “major residence.” This is a similar agreement to the contract US President Donald Trump called mortgage fraud in his efforts to fire Gov. Lisa Cook.
The story, first reported Wednesday by the Bloomberg News Service, quotes the 2007 pledge to take Bescent’s mortgage with Lender Bank of America and his pledge, primarily New York and Massachusetts homes.
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Mortgage experts told Bloomberg that Bessent’s home loan filing had no indication of evidence of fraud or fraud, and the issue highlighted the inconsistency in such documents.
Bank of America did not rely on Bevercent’s pledge and never expected to occupy both homes like his main residence, Bloomberg cited the mortgage document.
Bessent representatives did not immediately respond to requests for comment.
The Republican president who appointed Bescent to the Treasury Department and members of his administration accused former Democratic president Joe Biden of committing mortgage fraud, Cook, the appointee of former Democratic president, Joe Biden.
The White House did not respond to Al Jazeera’s request for comment.
Matches Cook
Congress included provisions in a 1913 law that created the Fed to protect central banks from political interference. Under that law, the law does not define the term or establish procedures for removal, but the Fed governor may be removed by the president only “for a cause.” No president has deleted the Fed governor. The law has never been tested in court.
Trump cited allegations of fraud and tried to remove Cook for a cause. The U.S. Court of Appeals refused to allow Trump to fire her on Monday. The White House said it would appeal the decision to the U.S. Supreme Court.
Trump’s Justice Department has also launched a criminal mortgage fraud investigation into Cook and issued subpoenas for the big ju judges in Georgia and Michigan, news agency Reuters previously reported.
A loan estimate for the Atlanta home that Cook purchased showed she declared the property a “home for vacation,” according to documents reviewed by Reuters. The Property Tax Agency in Ann Arbor, Michigan said Cook has not broken the tax credit rules for the home where she was declared her primary residence.
In a report Wednesday, Bloomberg pointed to a similar pledge made by lawyers on behalf of Bescent on September 20, 2007, agreed to create Bedford Hills, New York, and pointed out a “major residence” next year and another home in Provincetown, Massachusetts.
“There are people who think that President Trump is putting too much pressure on the Fed, and people like President Trump and myself believe that if a civil servant commits mortgage fraud, they should look into this and not be able to serve as one of the nation’s leading financial regulators.
It’s not just Bessent. A close relative of Bill Prute, an official appointed by Trump as director of a federal housing finance agency and accusing Cook of mortgage fraud, declared the same position in two homes in two different states, official records show.
Father and stepmother Mark and Julie Prute are claiming so-called “homestead exemptions” for housing in wealthy areas in both Michigan and Florida, Reuters reported earlier, citing public records.
The exemption is intended to give homeowners a discount on taxes on real estate used as a primary residence.
