InvestmentsMortgageReal Estate

Warren questions Kushner’s $800 million Freddie Mac loan

Asks if "special treatment" played a part in massive government-backed loan

Sen. Elizabeth Warren, D-MA, who is currently running for president, recently called attention to a loan received by Kushner Cos., the real estate company owned by the family of Jared Kushner, son-in-law and advisor to President Donald Trump.

In May, Kusher Cos. landed an $800 million loan issued by Berkadia and backed by Freddie Mac to buy apartments in Virginia and Maryland, according to Bloomberg.

But in a letter to Freddie Mac CEO Donald Layton, Warren and Sen. Tom Carper, D-DE, questioned whether the deal was pushed through because of the real estate company’s connection to Jared Kushner, who once served as CEO of the family-owned company and still owns some assets.

The letter said that the deal raises “serious questions about conflicts of interest and whether Kushner Companies may have received special treatment” from Freddie, Bloomberg reported.

The senators did note, though, that there was no indication of wrongdoing on Freddie’s behalf.

A Kushner Cos. spokesperson said the loan was obtained through a competitive process.

“Kushner Companies has done extensive business with Freddie Mac and Fannie Mae for decades, and the insinuation of any favorable treatment is ridiculous and totally false,” the spokesperson said, according to Bloomberg.

The letter requests access to a timeline of the application and approval process associated with the loan, Bloomberg reported, and also asks if Freddie officials were involved in issuing the loan and if Jared Kushner or others involved with the company communicated with Freddie about it.

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