MONEYBAGS

Kushner Companies Seeking $1.15 Billion Federal Loan

Kushner Companies, the real-estate firm owned by the family of White House senior advisor (and presidential son-in-law) Jared Kushner, reportedly sought a $1.15 billion loan from federally-owned lenders Fannie Mae and Freddie Mac. According to Bloomberg, the company is seeking those funds to purchase “6,030 apartments across 16 properties in Maryland and Virginia.” Kushner Companies reportedly had more than $500 million in loans from Fannie Mae and Freddie Mac at the time Jared Kushner divested from the family business and joined the White House. The new loan could potentially more than double the amount Kushner Companies has in federal loans.

President Trump appointed Joseph Otting to oversee the Federal Housing Finance Agency, which regulates Fannie Mae and Freddie Mac. Otting reportedly served as the CEO of OneWest Bank, which was founded by Treasury Secretary Mnuchin—who is an “ally” of Kushner's. A spokesman 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, the spokesman for Jared Kushner’s attorney Abbe Lowell, said Kushner no longer had involvement with the family business. “[Kushner] is walled off from any business or investment decisions and has no idea or knowledge of these activities,” Mirijanian said.