Kushner Companies pay no principal on the Freddie Mac-backed loans for a decade, WNYC and ProPublica reported.
The Kushner family real estate company, partly owned by White House senior adviser Jared Kushner, was granted $850 million in government-backed loans with “unusually good terms,” New York Public Radio and ProPublica reported.
The loans backed by the government-sponsored Federal Home Loan Mortgage Corp. — known as Freddie Mac — granted last year to Kushner Companies made it possible for the business to purchase thousands of apartments in Maryland and Virginia in its largest deal in a decade, according to the joint investigation by WNYC and ProPublica.
Jared Kushner gave up running the company after father-in-law President Donald Trump gave him a job as White House adviser. But he remains a key stakeholder in the company, and has made millions of dollars from the business, including from operations linked to the Freddie Mac-backed deals, according to his financial disclosure filings. Continue reading.