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Investing.com -- U.S. Treasury Secretary Scott Bessent previously agreed to occupy two different houses simultaneously as his "principal residence," according to a Bloomberg News report published Wednesday.
The arrangement, which involved mortgages with Bank of America, included Bessent’s pledge in 2007 to primarily occupy homes in both New York and Massachusetts.
This agreement bears similarities to one that President Donald Trump has characterized as mortgage fraud in his unprecedented effort to remove Federal Reserve Governor Lisa Cook from her position.
Mortgage experts interviewed by Bloomberg indicated there was no evidence of wrongdoing or fraud in Bessent’s home-loan filings. They noted that the situation highlights inconsistencies commonly found in such documents.
According to the report, which cited the mortgage documents, Bank of America did not rely on Bessent’s pledges and never expected him to actually live in both homes as primary residences.
When contacted, representatives for Bessent did not immediately provide a comment on the matter.
President Trump, who appointed Bessent to lead the Treasury Department, and members of his administration have accused Cook, who was appointed by President Joe Biden, of committing mortgage fraud before she took office. Cook has denied these allegations.
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