Kushner companies seek $ 1.15 billion federal loan
Kushner Companies, the real estate company owned by the family of senior White House adviser (and presidential son-in-law) Jared Kushner, has reportedly requested a $ 1.15 billion loan from federal lenders Fannie Mae and Freddie Mac. According to Bloomberg, the company is seeking these funds to buy “6,030 apartments in 16 properties in Maryland and Virginia.” Kushner Companies reportedly had over $ 500 million in loans from Fannie Mae and Freddie Mac by the time Jared Kushner parted ways with the family business and joined the White House. The new loan could potentially more than double the amount of federal loans from Kushner Companies.
President Trump has appointed Joseph Otting to oversee the Federal Housing Finance Agency, which regulates Fannie Mae and Freddie Mac. Otting was reportedly CEO of OneWest Bank, which was founded by Treasury Secretary Mnuchin, who is an “ally” of Kushner. A spokesperson for Fannie Mae and Freddie Mac told Bloomberg they had no information to share. Kushner Companies did not return multiple requests for comment. Peter Mirijanian, spokesperson for Jared Kushner’s lawyer Abbe Lowell, said Kushner was no longer involved in the family business. “[Kushner] is away from any business or investment decisions and has no idea or knowledge of these activities, ”said Mirijanian.