The director of Federal Housing Finance Agency could win the president an opening on the Federal Reserve board.

The president said in a letter posted on his Truth Social platform Monday night that he is removing Lisa Cook effective immediately.

The allegations center on what is known as mortgage occupancy fraud, or when a borrower says they plan to use a property as a primary residence, even though it is a second home or an investment. A Trump housing official claimed on social media that Cook designated two properties as her primary residences, in papers submitted 14 days apart.