Tipsheet

Here's the Smoking Gun Clip Regarding the Curious Case of Adam Schiff's Residency

Matt Vespa
Matt Vespa  |  July 21, 2025 6:30 AM

It’s one thing to weather a storm over carpetbagging. It’s another thing entirely when it involves alleged mortgage fraud. Sen. Adam Schiff (D-CA) was the subject of a criminal referral at the Justice Department over claims that he allegedly committed mortgage fraud regarding his primary residence in Maryland (via Fox News):

The director of the U.S. Federal Housing Finance Agency (FHFA) sent a letter to Attorney General Pam Bondi and Deputy Attorney General Todd Blanche in May citing alleged misconduct by Schiff, who owns homes in California and Maryland.  

"Based on media reports, Mr. Adam B. Schiff has, in multiple instances, falsified bank documents and property records to acquire more favorable loan terms, impacting payments from 2003-2019 for a Potomac, Maryland-based property," FHFA Director William Pulte wrote in the letter, which Fox News obtained on Wednesday. "As regulator of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, we take very seriously allegations of mortgage fraud or other criminal activity. Such misconduct jeopardizes the safety and soundness of FHFA’s regulated entities and the security and stability of the U.S. mortgage market." 

[…] 

Schiff and his wife purchased a home in Potomac, Maryland, in 2003 for $870,000, according to the letter. They entered into a Fannie Mae-backed mortgage agreement for $610,000 at a rate of 5.625% over a term of 30 years, asserting the property would be their primary and principal residence.  

The letter said they reaffirmed that the Maryland home was their primary residence in mortgage refinancing filings in 2009, 2011, 2012 and 2013, despite Schiff being an elected official representing the state of California at the same time.  

Fox News obtained a copy of the 2011 affidavit showing Schiff signed certifying that the Maryland house is his primary residence. 

[…] 

In 2023, the letter notes, a spokesperson for Schiff asserted that "Adam’s primary residence is Burbank, California, and will remain so when he wins the Senate seat." 

"Primary residence mortgages receive more favorable loan terms, including lower interest rates, than secondary residence mortgages," the letter said. "Lenders view secondary residence mortgages as significantly riskier, as a borrower is more likely to continue paying off a primary residence mortgage during any financial hardship. Interest rates on secondary residence mortgages are typically between 0.25-0.50% higher than their primary residence counterparts; however, this gap can widen depending on the lender."  

The federal housing official wrote that he believes Schiff's alleged misconduct could be violations of federal criminal codes banning wire fraud, mail fraud, bank fraud and false statements to financial institutions.  

Katie wrote about this last week as well. Schiff has claimed both California and Maryland has his primary residences, despite being a member of Congress from California. Since 2009, he seems to have claimed Maryland as his main home, but he’s changing his tune. 

Local media never fails, and this video is one that our own Larry O’Connor says should be clipped and recycled repeatedly. Yes, it’s the smoking gun that can and should be used against Schiff in a court of law. We have documents showing his Maryland home as his primary residence, despite his statement on camera that California is his primary residence, “always has been and always will be." 

Well, that appears to be a lie, so who else has he spewed this line to, asked O’Connor. The IRS, the state of Maryland?