Texas Attorney General Ken Paxton is blaming his political rival, US Sen. John Cornyn (R-TX), of being behind a news story accusing Paxton and his now-estranged wife Angela of mortgage fraud.
The Associated Press broke the story claiming the Paxtons owned three homes – one in a Dallas suburb, two in Austin – but the mortgages signed for the properties claimed each was their primary residence, thus enabling them to enjoy low interest rates. The article also cited unnamed “legal experts” said it was “possible that the Paxtons’ lenders prepared the documents and that the couple did not carefully review them before signing.” However, the article quickly added, “Even if that were the case, some legal experts say that Paxton, as an attorney and Texas’ top law enforcement officer, ought to have known better.”
The Associated Press article appeared to stray at some points from objective reporting, stating the couple “routinely flouted lending agreements on some of their other properties” while speculating that it was “unlikely that Paxton, a staunch Trump ally, will face the same federal scrutiny as James and Schiff” – a reference to New York Attorney General Letitia James and Sen. Adam Schiff, who are the subject of mortgage fraud investigations by the Department of Justice. The article also offered a lengthy review of previous (and unrelated) political and legal challenges faced by Paxton.
Paxton responded angrily on social media and insisted Cornyn was responsible for creating the story – Paxton is challenging Cornyn for the Republican nomination in next year’s Senate election.
“There will be accountability for this blatantly false story,” Paxton wrote online. “John Cornyn and his establishment Swamp allies pushed this fake news to slander me, and Cornyn even called for the feds to take me down. He wants me in prison, just like he wanted President Trump to be. There’s already been many lies debunked and corrections issued. News outlets across Texas and the country are changing their stories now. Any outlets that keep this story up or publish a new one better be ready.”
Cornyn’s re-election campaign responded immediately to the Associated Press story by posting on X, “Ever wonder how @kenpaxtontx was able to afford so many houses on a government salary? By cheating the system and breaking the law. Learn more at http://CrookedKen.com.”
Photo: Gage Skidmore / Wikimedia Commons
Three homes as primary residences? Not likely but possible. If Letitia James and Adam Schiff are under suspicion then so should Ken Paxton. I’m a Republican but legality should swing its heavy weight across all political boundaries. I can see two homes as primary residences. One in his home city and one in the state capital. That is allowable. If Paxton got a loan on one owner-occupied home and then bought a 2nd owner-occupied home and lived in it and instead of selling the previous home turned it into a rental then that happens quite often. If he kept that original mortgage as owner-occupied and now this residence is an income producing home then that’s ok as along as he was an owner-occupant resident for the short time period that FNMA , FHA or VA require then there’s no harm or foul. If this is what is the real story then John Coryn has some explaining to do and an offering of an apology.
You only state that the property will be your primary residence when you sign the mortgage. If that changes, eg, you move, even twice, there will be three mortgages stating they are on your primary residence. Not Illegal and not unethical. There is no requirement that you refinance your home or remove the homestead designation when you move out or convert it to a second home or rental. You are allowed to own as many homes as you can afford, but you can only have one domicile at a time. Nothing here but politics.
I agree. Many people buy a primary residence and later convert it to a second home (vacation or otherwise) or a rental. You’d have to prosecute millions of people if these allegations led to actual charges on the 2 Democrats and 1 Republican.
It is funny to see 2 Republicans using vicious attack methods on each other because this is how it goes in politics. Those who targeted others with unfair (or just political) attacks often end up being skewered by their own team using the same tactics. Good to know that these Republicans are being bipartisan in their attacks.