Controversy Erupted as Bill Pulte Alleged Fraud against Federal Reserve Governor Lisa Cook; Family Members Submitted Similar Housing Complaints

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In a series of recent developments, the homestead exemptions of the Pulte family, including Bill Pulte, Director of the Federal Housing Finance Agency, are under investigation.

The controversy began with accusations made by Bill Pulte against Lisa Cook, a Federal Reserve governor. Pulte claimed that Cook had improperly claimed more than one property as a primary residence, a practice that isn't generally allowed in both Michigan and Florida jurisdictions.

The Pultes, specifically Mark and Julie Pulte, have claimed homestead exemptions for residences in both Michigan and Florida. However, their Michigan residence was rented out this year, which violates rules for the exemption. As a result, Darrin Kraatz, director of assessing in Bloomfield Township, Michigan, has stated that the township will revoke the exemption on the Pultes' residence there.

On the Michigan property, Julie Pulte claimed the exemption, while on the Florida property, both spouses are named on a trust that owns the house. It's worth noting that the Pultes likely paid for their Michigan and Florida properties in cash, as no mortgage records exist for either property.

The homestead exemption is meant to give a discount on taxes for properties used as primary residences. In Florida, the Pultes' home, located in Boca Raton, granted an additional exemption due to the house surpassing a certain value threshold. This exemption saved the Pultes an estimated $158,000 in taxes for 2025.

The Pultes' Florida home isn't the only property that has made headlines. Mark Pulte, in addition to being a senior official at a Pulte family foundation, is also the founder of a housing company in Florida that specializes in building luxury properties. He made waves in 2021 when he sold a property in Florida for $122.7 million, a record for Palm Beach at the time. The property was previously among Trump's Florida holdings.

The real estate experts and officials investigating the Pultes' homestead exemptions have yet to reach a clear conclusion. However, Nery Mejia, an exemptions manager for the Palm Beach County Property Appraiser's Office, has stated that the office would look into the dual exemptions. She also mentioned that the paperwork in Florida is valid and predates the Michigan claim.

In the midst of these investigations, Bill Pulte, in his comments to Senate officials for his confirmation as director of the federal housing agency, thanked his father and stepmother for their support. He grew up visiting construction sites of homes built by his father and grandfather.

Lisa Cook has repeatedly denied any wrongdoing in response to the accusations. The Pulte family is also known for their active involvement in conservative circles, having made multiple campaign contributions to Republican candidates and causes.

As the investigations continue, it remains to be seen what conclusions will be drawn regarding the Pultes' homestead exemptions. The family's involvement in the real estate industry and conservative circles adds an interesting layer to this ongoing story.