President Donald Trump’s ongoing efforts to fire Lisa Cook from the Federal Reserve board over allegations of mortgage fraud raise an unsettling question for homeowners: Just how much of your mortgage information is public, and could it ever be used against you? (1)
The Trump administration accuses Cook of mortgage fraud, suggesting she declared both her homes as primary residences to take advantage of the lower mortgage rates financial institutions charge for a primary residence. (2) As the New York Times reports, Cook’s lawyers called the threats to fire her “unprecedented and illegal.”
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Meanwhile, Trump has also accused New York Attorney General Letitia James and California Senator Adam Schiff — both of whom he considers foes — of mortgage fraud, leading to public scrutiny of their property records.
Even if you’re not a high-profile politician, it’s good to be aware of what constitutes mortgage fraud, how to avoid it and how much of your mortgage data is subject to scrutiny.
What is mortgage fraud?
Mortgage fraud occurs when a borrower misrepresents information they provide when applying for a mortgage.
This might include overstating income, understating debt, not disclosing personal loans or lying about whether a property is their primary residence to obtain more favorable mortgage terms.
How widespread is it?
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In the past 12 years, fewer than 3,000 Americans have been convicted of federal mortgage fraud, with only 38 convicted in 2024 and 34 in 2023, according to U.S. Sentencing Commission data — a small number relative to the 100 million mortgage loans issued over the same period. (3)
While the number of convictions is low, the potential for fraud may be much higher. Each year, the global firm Cotality undertakes a survey of U.S. mortgage applications to identify fraud risk. This year, the firm found that mortgage fraud risk was up 7.3% year over year. (4)
Matt Seguin of Cotality’s Fraud Solutions department said the market was “ripe” for an increase in mortgage fraud due to high interest rates and challenges with housing affordability.
“If market conditions continue to challenge sellers, risks like misrepresented down payments, inflated prices, and straw buyers could increase dramatically.”
Concern over the rising risk of mortgage fraud means your mortgage details could be subject to scrutiny. The public availability of such information increases your risk of identity theft.
What mortgage details are public and how to protect yourself
When you take out a mortgage, details are entered into the public record, including:
- Your name
- Lender’s name
- Property address
- Original loan amount
- Records of refinances or payoff dates
- Liens against the property
- Property taxes
- Whether your home is eligible for a homestead exemption according to state law (lowering taxes on your principal residence)
These details can be accessed through online directories or at the County Tax Assessor’s office.
Removing this type of information from the public record is difficult in most states. But there are a few steps you can take to keep your information safe.
- Search your own county’s site to see what information about you is visible. The information may be available through a local government office (e.g., the county auditor, tax assessor, or local county recorder). Being familiar with your records makes it easier to spot errors or potential misuse.
- Correct errors quickly. If a document was filed incorrectly, work with your lender and county office to fix it. Even a small mistake could create confusion about how you use or own your property.
- Consider a land trust or an LLC. Some homeowners buy property under a trust or limited liability company to keep their names out of the public record. This adds a layer of privacy, but it also comes with costs, legal complexity, and potential tax implications.
- Research privacy tools. Services like DeleteMe can help reduce how much of your mortgage information circulates on commercial databases and data broker sites, though they can’t erase official government filings.
- Stay alert to fraud. If you believe your information is being misused, consult a real estate lawyer or your lender immediately. Taking action early is the best way to prevent small issues from becoming bigger problems.
As mortgage data becomes more accessible through apps and commercial databases, being aware of what information is public and how it could be used or misused is the first step toward protecting yourself.
Article sources
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[1]. NBC News "Trump asks the Supreme Court to allow him to fire Fed member Lisa Cook"
[2]. New York Times “Trump Is claiming mortgage fraud to attack enemies. Is your Information public?”
[3]. The Conversation “Does anyone go to prison for federal mortgage fraud? Not many, the numbers suggest”
[4]. Cotality “Cotality: Mortgage fraud risk holds steady in the first quarter of 2025”
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