Eric Swalwell Referred to DOJ for Mortgage Fraud Investigation
California Democrat Eric Swalwell is now facing a Department of Justice criminal referral over allegations of mortgage and tax fraud tied to his Washington, D.C., home. The referral came Thursday from Federal Housing Finance Agency (FHFA) Director Bill Pulte, one of President Donald Trump’s housing appointees, who accused Swalwell of making false statements on loan documents.
At the center of the allegations is Swalwell’s $1.2 million D.C. property, which he reportedly declared as his primary residence—a move that allowed him to access favorable loans and refinancing options potentially worth millions. The New York Post reports that this designation helped Swalwell secure financial benefits he might not have otherwise qualified for.
Beyond the mortgage allegations, Swalwell’s campaign has also come under fire. Reports from Fox News reveal over $360,000 in payments to a Haitian American staffer and questionable expenses on luxury hotels and high-end car services.
Swalwell joins a growing list of Democrats now facing mortgage-related scrutiny. The FHFA has already referred similar cases involving Sen. Adam Schiff (D-CA), New York Attorney General Letitia James, and Federal Reserve Board Governor Lisa Cook—all accused of financial misrepresentations related to housing or refinancing.
Swalwell dismissed the charges as politically motivated, citing his long-standing opposition to President Trump. “As the most vocal critic of Donald Trump over the last decade… the only thing I am surprised about is that it took him this long to come after me,” Swalwell told NBC News.
Democrats quickly circled the wagons. Rep. Sam Liccardo (D-CA) accused Trump of abusing power, referencing recent allegations of GOP senators profiting from earmarks. “It’s no longer shocking that Trump uses his power to target an outspoken opponent—that’s the hallmark of authoritarianism,” Liccardo said. Rep. Zoe Lofgren (D-CA) echoed the sentiment, adding, “He should know my colleague @RepSwalwell is someone who never backs down or bends the knee to a tyrant.”
Swalwell’s financial record has long drawn attention. A 2019 Washington Free Beacon report noted that more than a decade after graduating law school, Swalwell was still saddled with student loan and credit card debt. Despite this, he rose to national prominence for aggressively promoting the since-debunked Trump-Russia collusion narrative during Trump’s first term.
He has also faced scrutiny over his past relationship with suspected Chinese spy Christine Fang, an association that occurred while Swalwell was serving on the House Intelligence Committee. Though he was not accused of wrongdoing in that case, Republicans have continued to use the incident to question his judgment and loyalty.
The DOJ has not publicly confirmed whether it will open a formal investigation.