WASHINGTON — Federal Reserve Governor Lisa Cook sued President Trump Thursday for trying to fire her over mortgage fraud allegations, with her lawyers claiming the disputed loan records could amount to a simple “clerical error.”

The embattled Fed official’s lawyers asked for a DC federal judge to block the president’s “unprecedented and illegal” attempt to oust Cook, which would allow her to keep her job while the case proceeds.

In a subsequent filing, Cook’s attorneys also suggested that the Biden appointee had accidentally “mislabeled” one of her homes as a primary residence on a mortgage application four years ago.

Cook, who assumed her position full-time in 2023 and whose term is set to expire in 2038, recently retained ex-Hunter Biden attorney Abbe Lowell to represent her in the legal tussle with the commander in chief.

In the initial complaint, Lowell and the rest of Cook’s legal team claimed her sacking “would subvert the Federal Reserve Act (‘FRA’), which explicitly requires a showing of ’cause’ for a Governor’s removal, which an unsubstantiated allegation about private mortgage applications submitted by Governor Cook prior to her Senate confirmation is not.”

By most interpretations of federal law, Cook — who earns $225,700 per year in her position and has yet to be charged with any crime — must be shown to have engaged in “inefficiency, neglect of duty, or malfeasance in office” to be fired for cause.

Fudging the primary residency status “on a mortgage application well before her Board appointment without any allegation of its intentionality or materiality would not be the type of ‘offense’ that would constitute ’cause,’” Cook’s attorneys wrote in memo accompanying a request for a temporary restraining order Thursday.

“[A]llowing such a charge to be the basis for Presidential action with no investigation, substantiation, formal charge or court finding could hardly be enough evidence on which a ’cause’ firing could occur,” they went on.

The attorneys also argued Trump was trying to “remove Governor Cook because she has departed from his agenda over interest rates.”

“The President has no statutory authority to remove Governor Cook over a policy disagreement, which is the real reason he seeks her departure,” they wrote in the 24-page filing.

The lawyers also argued the firing would violate Cook’s Fifth Amendment due process rights, since she wasn’t given a heads-up before Trump publicly pink-slipped her on Truth Social Monday evening.

“It is clear from the circumstances surrounding Governor Cook’s purported removal from the Federal Reserve Board that the mortgage allegations against her are pretextual, in order to effectuate her prompt removal and vacate a seat for President Trump to fill and forward his agenda to undermine the independence of the Federal Reserve,” the lawsuit concluded.

White House spokesman Kush Desai told The Post that the president “exercised his lawful authority to remove a governor on the Federal Board of Governors for cause.” 

“The President determined there was cause to remove a governor who was credibly accused of lying in financial documents from a highly sensitive position overseeing financial institutions,” Desai said in a statement.

“The removal of a governor for cause improves the Federal Reserve Board’s accountability and credibility for both the markets and American people.”

Trump, 79, previously argued the Federal Reserve Act allows board governors to be removed “for cause” and claimed there was “sufficient cause,” given the mortgage fraud allegations, for Cook to be dismissed.

“[A]t a minimum,” he added in a letter to Cook, the allegation “calls into question your competence and trustworthiness as a financial regulator.” 

Federal Housing Finance Agency Director Bill Pulte first accused Cook, an academic who served on former President Barack Obama’s White House Council of Economic Advisers and former President Joe Biden’s transition team, of falsifying bank documents and property records to secure better loan terms.

In an Aug. 20 X post, Pulte alleged that the Biden-era Fed appointee listed a condo in Atlanta as her primary residence in July 2021.

That was signed just two weeks after she obtained a loan on her Michigan home, which she also declared as a primary residence.

The alleged fraud was noted in a criminal referral sent to Attorney General Pam Bondi.

Former Vice President Kamala Harris cast the tie-breaking vote to confirm Cook after the Senate deadlocked 50-50 on her appointment in May 2022.

In September 2023, Sen. Mike Rounds of South Dakota became the only Republican to join with Democrats in a 51-47 Senate vote to approve her for a full, 14-year term at the Federal Reserve.

Trump has railed against the Fed for failing to lower interest rates, dubbing its chairman, whom he has also pressured to resign, “Jerome ‘Too Late’ Powell.”

The president has also dinged the lavish $2.5 billion revamp of the Federal Reserve’s downtown Washington, DC, headquarters — even donning a hard hat to personally inspect the renovations earlier this summer.

Powell’s term ends in May 2026.