The Government Accountability Office reportedly confirmed this week that it has opened an investigation into Federal Housing Finance Agency Director Bill Pulte, following demands from top Senate Democrats who took issue with Pulte’s referrals of several prominent Democratic officials for alleged mortgage fraud.
The GAO, a nonpartisan watchdog for Congress, said it accepted the request and has begun the initial phase of its review.
In a letter sent in November, Senate Democrats urged the GAO to “promptly investigate” Pulte’s recent actions at the FHFA.
Their chief complaint centered on Pulte’s referrals of New York Attorney General Letitia James, Senator Adam Schiff, Federal Reserve Governor Lisa Cook, and Congressman Eric Swalwell to the Department of Justice. All four officials have publicly denied wrongdoing. The GAO spokesperson emphasized that the office had accepted the request and would now determine the scope and methodology of the review, a process expected to take several months.
The FHFA declined to comment on the probe.
Critics of Pulte have questioned how he obtained the mortgage documents that formed the basis of his referrals. During a tense CNBC interview in September, Pulte said he received a “tip” but refused to identify the source. “I’m not going to explain our sources and methods,” he said, adding that referrals are routine for the agency. “Lisa Cook happened to be one of them.”
Since becoming FHFA director, Pulte has transformed what is typically a low-profile regulatory position into a platform for sharp criticism of high-ranking Democratic officials—many of whom President Trump has also publicly challenged.
His scrutiny has included elected Democrats as well as officials at the Federal Reserve, an institution Trump has frequently criticized for failing to lower interest rates quickly enough.
Lisa Cook, one of the officials Pulte referred, was appointed to the Federal Reserve Board by President Biden. Pulte accompanied President Trump on a July visit to the Federal Reserve’s headquarters, which is undergoing major renovations. He has also used social media to reinforce Trump’s criticisms of the Fed and its leadership.
In August, Trump moved to fire Cook, citing Pulte’s referral in a letter posted to Truth Social. The case is now scheduled to go before the Supreme Court in January.
Pulte’s aggressive posture has reportedly irritated some officials within the administration. Treasury Secretary Scott Bessent, according to reports, threatened to punch Pulte during a heated moment at a White House dinner in September. When asked about the incident on CNBC, Bessent only fueled the story further, remarking that treasury secretaries “dating back to Alexander Hamilton have a history of dueling.”
Still, Bessent framed the disagreement as part of the broader dynamic of a confident, high-performing administration. “With President Trump’s team, just like any great sports team, you can argue in the locker room, but we get out in the field and do the best for the President and the American people every day,” he said.
The GAO investigation now adds a new layer to the internal drama. Democrats insist Pulte overstepped in targeting their political allies, while supporters see an official unafraid to expose misconduct wherever it leads. The coming months will determine how far the GAO goes—and whether Pulte’s efforts are validated or curtailed.
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