The family of President Donald Trump’s son-in-law is reportedly seeking a $1.15 billion in federal loans to purchase apartments in Virginia and Maryland, reports Bloomberg.
According to the report, Kushner Companies, the real-estate firm owned by White House adviser Jared Kushner’s family is seeking the funds from federally-owned lenders Fannie Mae and Freddie Mac. The loans would then be used to purchase “6,030 apartments across 16 properties,” reports Bloomberg.
The report goes on to state that the family previously had more than $500 million from Fannie Mae and Freddie Mac at the time Jared Kushner separated himself from the family’s real estate business to join his wife, Ivanka, in the White House.
According to the report, “President Trump appointed Joseph Otting to oversee the Federal Housing Finance Agency, which regulates Fannie and Freddie. Otting previously served as CEO of OneWest Bank, founded by now-Treasury Secretary Steven Mnuchin, an ally of Kushner’s in the West Wing.”
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