ProPublica reports that in 1993 President Donald Trump signed a mortgage on a Palm Beach property he listed as his primary residence, then took a second mortgage on a nearby home less than two months later — despite reportedly living in New York at the time. The findings echo mortgage-related accusations Trump and allies have leveled at several political opponents, including Lisa Cook, Letitia James, Adam Schiff and Eric Swalwell, all of whom deny wrongdoing. The White House rejects ProPublica’s account and calls the story politically motivated, while many of the related probes and referrals have not produced criminal convictions.
ProPublica Report: Trump May Have Used The Same Mortgage Practices He Accuses Rivals Of
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An explosive investigation by ProPublica raises questions about President Donald Trump’s mortgage activity in Florida in the early 1990s, and whether it mirrors mortgage conduct he and his allies have publicly accused political opponents of committing.
Key Findings From The ProPublica Report
ProPublica reporters Justin Elliot, Robert Faturechi and Alex Mierjeski report that in 1993 Trump signed a mortgage on a Palm Beach property he listed as his primary residence. Less than two months later, he allegedly obtained a second mortgage on a nearby house that he also identified as his primary residence. The report says Trump, who was living in New York at the time, appears not to have moved into either Florida home.
Accusations Against Political Opponents
- Lisa Cook: Bill Pulte, then-head of the Federal Housing Finance Agency, publicly accused Fed Governor Lisa Cook of mortgage fraud in August 2025 and referred his findings to the Department of Justice. Prosecutors have not brought charges. Trump sought Cook’s removal from the Fed; the dispute reached the Supreme Court, which rejected Trump’s request related to the matter, allowing Cook to remain while litigation continues.
- Adam Schiff: In July 2025, Trump posted accusations on social media and alleged that Fannie Mae’s Financial Crimes Division was investigating Schiff. No criminal charges have been filed.
- Letitia James: New York Attorney General Letitia James was charged in October by Lindsey Halligan, an attorney once aligned with Trump and briefly appointed as U.S. Attorney for the Eastern District of Virginia. That case was later dismissed after Halligan’s appointment was determined to be unlawful, and attempts to reindict James have so far failed.
- Eric Swalwell: In November, Pulte referred Swalwell to the Justice Department for a federal inquiry related to a D.C. home. The DOJ declined to pursue charges, and Swalwell later dropped a civil suit accusing Pulte of weaponizing the referral.
Responses
A ProPublica reporter says Trump hung up when asked whether the Florida mortgages were obtained in the same manner as the loans he has criticized in others. A White House spokesperson told ProPublica there was "no defraudation" in the Trump mortgages and called the story "yet another desperate attempt by the left-wing media to disparage President Trump with false allegations," adding that "President Trump has never, or will ever, break the law."
Why This Matters
The report places the newly reported mortgage details alongside public accusations the administration has made against opponents, raising questions about consistency and political use of financial allegations. Many of the related referrals and accusations mentioned in public statements have not resulted in criminal convictions and, in some cases, were dismissed or not pursued by prosecutors.
ProPublica’s reporting is based on public records and interviews; its findings have been disputed by the White House. Media outlets originally highlighted the story, and legal outcomes remain subject to ongoing review.
Note: This article summarizes reporting by ProPublica and subsequent coverage. It does not allege criminality beyond what sources and official records assert; legal determinations are matters for the courts and prosecutors.
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