Jared Kushner seeking massive billion dollar federal loan to purchase real estate
 

Socialism & corporate welfare all rolled into one.

Shouldn't it be illegal for the president's immediate family to take out government loans while he's president? Seems like a conflict of interest and definite bias.

Jared Kushner seeking massive billion dollar federal loan to purchase real estate

Kushner Cos., the real estate firm owned by the family of President Donald Trump’s son-in-law Jared Kushner, has sought financing from federally-owned lenders for its biggest purchase in a decade.

The company has been in talks with Fannie Mae and Freddie Mac about a loan for a $1.15 billion purchase of apartments in Maryland and Virginia, according to two people familiar with the discussions, who asked not to be named discussing a private transaction.

Such a deal would increase Kushner Cos.’ exposure to government-backed mortgages at the same time its former chief executive officer is one of the most powerful people in the White House. Jared Kushner divested ownership in many of the company’s assets to close family members when he joined the government. Kushner Cos. had more than $500 million in loans from Fannie and Freddie at that time. Government-backed financing on this latest deal could more than double that figure.

Spokesmen for both Fannie and Freddie said they had no information to share. Peter Mirijanian, a spokesperson for Jared Kushner’s attorney Abbe Lowell, said that Kushner has no involvement in the company’s management.

‘Walled Off’
“As part of an ethics agreement he has and has followed, Mr. Kushner has had no role in the Kushner Companies or its activities since joining the government over two years ago,” Mirijanian said. “He is walled off from any business or investment decisions and has no idea or knowledge of these activities."

Laurent Morali, Kushner Cos.’ president, Emily Wolf, the company’s general counsel, and Karen Zabarsky, a company spokeswoman, didn’t respond to multiple requests for comment.

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.

Kushner Cos.’ latest deal is for 6,030 apartments across 16 properties in Maryland and Virginia from private equity firm Lone Star Funds, according to a representative for Michael Campbell of the Carlton Group, a real estate investment bank which is helping to arrange financing for the deal.

Lenders’ Concerns
Both lenders discussed funding the acquisition last year, according to people familiar with the matter.

Even lenders that aren’t owned by the government have fretted about exposure to the White House. Executives at Deutsche Bank, the largest of the Trump Organization’s lenders, considered extending the terms of loans issued to the president’s company, Bloomberg reported Wednesday.

Deutsche Bank Weighed Extending Trump Loans on Default Risk

Officials at the German bank feared a public-relations nightmare would ensue if ever they found themselves in the position of having to collect on a sitting president. Government ethicists have raised similar concerns about Kushner Cos. and the federal agencies, for fear of the complications that could arise from refinancing or foreclosure scenarios.

The purchase from Lone Star is the latest sign that Kushner Cos. is returning to its roots as an owner of suburban properties. It sold almost $2 billion of apartments in 2007 to help finance the purchase of 666 Fifth Ave. The company set a record with the $1.8 billion purchase of the 41-story Manhattan office tower, which was then plagued by outsized debt payments for more than a decade.

Kushner Cos. reached a deal to sell a 99-year lease on 666 Fifth to Brookfield Asset Management Inc. last year, and has been pivoting back to the sprawling multifamily complexes that Charlie Kushner, Jared’s father, built his fortune on.

In 2017, Kushner Cos. teamed up with Israel-based Psagot Investment House to buy Quail Ridge, a 1,032-unit complex in Plainsboro, New Jersey, that the Kushner family had owned until a 2007 sale. This past April, the firm bought the 360-unit Prospect Place in Hackensack, New Jersey.

Wow thats really really convenient...its nice to be a crony...

So much for draining the swamp.

Republicans are nothing more than corporate socialist, liars, criminals & traitors to their country. There is no more bull shit about them being patriots or god fearing "good people".

They are literally the bottom of the barrel no matter if they are at the top of the wealth gap, middle or bottom they are ALWAYS the worst people.

Oh come on I'm sure there's a very good reason for doing this. He and the entire Trump family are such nice, good, warm hearted people who would never say or do anything wrong, ever. #Trump4Life2020 #Canadians4Trump #KushNotEvil #LeaveTrumpAlone Yay!

lol, fucking crook! Get the loan from russia or saudi arabia!

Banana Republic...

So the dude is getting a loan from a bank?

lol orange man bad 😂

Kushner family firm pays $1.1B for 6,000 apartments

https://www.washingtonpost.com/busin...558_story.html

Silly article.. The banks lend the money.. For their own security they make you jump through the "government backed" hoops.

Just some important facts that trigger Leftists more than anything these days.

but.. yeah... #resist Druurmphhh! Cause Orange Man Bad!

You guys are 99% negative about your own nation and any and all great news happening today and somehow you think that is the way you are going to win the White House in 2020.

It just doesn't work like that.

Trump owns you 100%... he's got you guys spiraling out of control, 24/7 while the nation gets stronger and you turds still don't have a plan for the future besides "resist", "impeach" and "orange man bad". It's both silly and sad.

He's going to run on a record of success and you burnt turds are going to run on a record of resisting. Good luck with that... LOL. He'll owns you one for the next huge win in 2020 that you're handing him for sure.

Dow gains 0 in a year...records shattered tho...

The nutters are still nutters ^^^

Maybe somebody forgot to tell the DJI that all this monumental shit happened that the squealer is reporting?...who knows it may gain more than 0 in a year...

“He is walled off from any business or investment decisions and has no idea or knowledge of these ac
 

“He is walled off from any business or investment decisions and has no idea or knowledge of these activities."


If GFY knows, sure as hell Kushynuts knows!

Well, obviously everyone is batshit crazy but you. After all, you were among the earliest to lecture everyone on the fact that anyone who thought Trump could be President was an idiot.

So you're usually right on the money with your assessments

:1orglaugh:1orglaugh

Democrats are always on the wrong side of history.

You are making the exact point I intend to hammer in as we get closer to the primary's.

It's seems that it's only SOCIALISM if it helps 'The People' while much more corporate welfare is actually Corporate Socialism.

Lord knows that the right has been trying to kill social security since it started.
Not so fast.... the banks and investment company's want that money and can bankrupt SS in less than a decade.... problem solved for them.

But we can subsidize so many corporations and this is never spoken when budget cut talks come up.
I would hope that someone creates a list of the Corporate Welfare Funds !
I want to see them all.

Anyone who wants to deny Democratic Socialism, needs to deny Corporate Socialism first !

Every time you hear something about their business (Trump or Kushner) it has something to do with either current massive debt, or another pending loan? Don't these super rich people have their own money to spend?

I guess selling apartments and visas to the Chinese isn't bringing in enough cash for his shitty building which he over paid for!

Billionaires fleece the government means they are great business men, some poor bitch buys fried chicken with her EBT means there's a problem that must be fixed.

I know, right? LOL!

I know, right! Those crazy libbies! Imagine seeing all those red flags like everyone around Trump getting into legal Trouble. Trump #1 Uno La Maga!

You haven't lived until you've had a Trump Steak, with Trump Wine, after an educational day at Trump University, and 1 scoop of ice cream. MAGA you silly lib!

Imagine if Obama's son in law wanted to take out a $1.15 BILLION dollar government loan while Obama he was president of the United States of America.

Imagine if Malia Obama was an assistant to the president while Obama ways the president of the United States of America.

Trump supporters cum hard on the abuse of white privilege

I have pointed out many times that Trump has no money.
It is a pyramid scheme of loans.
Some of the banks even know this but he is in so much hawk, they have little choice.
It has been the pattern since the 90's... take a look at the initial Trump Tower bankruptcy.
But it is a shell game of company names.

Why do you think he gets so nervous when the fed wants to hike rates a %point.
He is instantly worth 20% less and needs new loans to float.

FYI... for those that do not know, these big corporate loans are not like a mortgage, they normally do not have to pay the principle back, but they have to keep up with the interest payments.

So taking a loan for business or investment purposes is now Corporate Socialism?

Oh wow :1orglaugh

PS VRPdummy - it's called capitalism :1orglaugh

He's got a lot to process. It seems that he's only just now learning that real estate investing is about cash on cash return and leveraging against equity to use other peoples money and minimize the total cash outlay and to maximize ROI... and seems to think that borrowing against equity which countless millions of people do each year is a "ponzi scheme".

I know, right? I don't get it with these crazy libbies. Let Jared have his money! I Mean, what's what harm, am I right? Woo MAGA !

Exactly.

Hey, bronco that's how rich people make money. There is nothing stopping you from doing the same thing they are doing.

It is a TAXPAYER BACKED LOAN ... can you read ?
Is that Capitalism... or Capitalistic Socialism ?

The company has been in talks with Fannie Mae and Freddie Mac about a loan for a $1.15 billion purchase of apartments in Maryland and Virginia

Is this a JOB CREATOR ? It's not like they are going to build new units.

If all goes well Kushner makes a lot of money but if it goes poorly the taxpayer is on the hook for it. Not a private bank.
Why can't he get a loan from a private bank ? Hmmmm high risk !

So... you also have no clue how Fannie Mae makes money. They borrow and they lend and they package sell their loans to Wall Street as securities just like any other loan. Wall Street ends up owning the loan.. not the tax payers.

Dummy.

Its not "other peoples money" they are borrowing, they print it out of thin air...punch numbers in a computer...negative gearing...you would have to understand basic economy to know why this is bad...but you dont...

Yes
Freddie was set up to broker mortgages, not 'make risky investment loans'.
" Federal Home Loan Mortgage Corporation "
Freddie guarantees that the investors will receive an agreed-upon payment each month. The U.S. Treasury backs the guarantee.

This is a direct government subsidy and taking away from 'investment banking'.
This is not a home mortgage, it is investment banking.
And it is a form of Corporate Socialism. government providing what the private sector does.... investment banking.

Once a loan is backed by Freddie or Fanny, the government is always on the hook for them. With full faith of the taxpayer. That is how they sell them, government guaranteed.

I think i found something even you can understand...
https://www.thebalance.com/what-is-freddie-mac-3305985

You got egg on your face ! Dummy !

And this is what makes it a shady deal...

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.

Investment banks will not lend them the money. That is what is up !
But they surely will if the government will back the loan.
Yes, then someone will buy it. guaranteed money for everyone except the taxpayer.
Corporate Socialism.

No, they don't. They use "other people's money". They get investors, or they get loans.

Just like Mitt Romeny and his group. They use other people's money to buy a businesses and charge huge consulting fees. If the business makes money or utterly fails, they still make money. It's insane and it should be criminal.

So correct....
The issue gets deeper because The Kushner folks will not be putting up their own assets at risk.
Like the ones they have at 666 5th ave.
A new corporation will be created. If it fails, so what, the taxpayer foots the bill.
But if it works out well, Kushner Cos make the profit.

Of course, this is not a unusual method of biz... everyone's doing it this way.
But it does not make it right.

Ya know... If I want to buy a building in town to add to my real estate portfolio, the bank wants all of my assets under the loan.
Why can't I just turn to Freddie and Fannie and get a lower interest rate to boot and not have to put up my other assets at risk.

well its really really MAGA for jarred...how very very convenient...its almost like he is a crony :1orglaugh:1orglaugh:1orglaugh

Nothing except being born rich.

You're a fucking moron.