I don't know the details and according to the letter to Atty. Gen. Bondi, the FHFA Director Pulte accused Cook of the infractions. In other words who knows what actually happened then and subsequently. Did she sell one property a month later? Did she sell one year later?
If I did it, what would be my penalty? Would I lose my job? Would it prevent me from doing my job?
1. Mortgage Fraud (Lenders / Loan Applications)
Penalties can include:
Foreclosure if repayment isn’t possible.
In severe cases, criminal charges — mortgage fraud is a federal offense, punishable by up to 30 years in prison and $1 million fine, though that’s for large-scale or willful fraud. Most cases historically result in financial penalties or loan consequences, not prison.
The IRS allows you to exclude up to $250,000 ($500,000 married) of capital gains if the home was your primary residence for at least 2 of the past 5 years.
The IRS can disallow the exclusion.
Civil fraud penalties can be up to 75% of the underpaid tax.
3. Property Tax / Homestead Exemptions
If misrepresented:
Some jurisdictions add a penalty of 10–50% of the unpaid taxes.
✅ Summary:
IRS → lose capital gains exclusion + taxes/penalties.
In most historical cases, the biggest impact is financial (back taxes, penalties, loss of benefits) — jail time is usually reserved for larger, willful fraud schemes.
That is what lawyers are for. One can assume that she will have increased lawyer bills.
Trump wanted to fire Powell one Monday morning after a few extra bogeys on Sunday, but figured out it wasn't possible. Nevertheless, its worth a try. He did fire the BLS Commissioner, but that was more job-related and who knows, there likely was some payoff that made sense for her to get out of the frying pan. I don't think of BLS Commissioner has the ability of say that the Fed Gov. were Fed chair to earn post position income.
Chairman Powell seems to be in it for the long haul especially since he's been accused of doing his job, or seeing through a rebuild that was appropriated despite the high costs.
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