While Georgians struggle to pay rent and mortgages, Loeffler “has taken no steps in recent months” to pass relief as ICE continues “taking advantage of the pandemic’s effect on the housing market”
ATLANTA — A bombshell new report today from Mother Jones’ David Corn revealed that unelected “political mega-donor” Senator Kelly Loeffler’s firm ICE “has sought to profit off the pandemic’s impact on the housing market and the mortgage industry” — all while Loeffler “has taken no steps in recent months” to address needed aid for homeowners.
Loeffler and her husband (and NYSE Chairman) Jeff Sprecher’s firm used the “unfortunate backdrop of COVID” to accelerate their investments in the mortgage industry — including “an $11 billion purchase of Ellie Mae, a leading provider of software for originating mortgages.”
But as Corn notes in his report, “Loeffler has been far stingier when it comes to Georgians and other Americans” than ICE has been with its investments during the crisis. While a “wave of foreclosures…could be good news for Sprecher and ICE” thanks to their growing investments in the digital mortgage market, Loeffler “didn’t answer” when asked about relief “for Georgians who, due to the COVID-19 pandemic, couldn’t pay rent and who might face eviction.”
This isn’t the first time Loeffler’s firm has landed her in hot water. In addition to her numerous conflicts of interests from the firm’s lobbying efforts, Loeffler’s time at ICE also included helping the company “establish a Cayman Islands offshore tax dodge months after the Great Recession hit” before she left the company with a “lucrative parting gift” ahead of her Senate appointment.
“At a time when Georgians are struggling to pay rent and put food on the table, Senator Kelly Loeffler and her husband’s company is trying to profit off the pandemic — all while Loeffler allows relief efforts to stall in the Senate,” said Alex Floyd, spokesman for the Democratic Party of Georgia. “Time and time again, Senator Loeffler has put herself and her interests first in Washington, and this latest report is just another example of her self-serving agenda in action.”
Read more about ICE’s efforts “to profit off the pandemic”:
November 28, 2023
November 22, 2023
November 19, 2023