Deadly Clear

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Deadly Clear

David Dayen via The Intercept: Treasury Pick Steve Mnuchin Denies It, But Victims Describe His Bank as a Foreclosure Machine

Had homeowners all been treated equal, missed payments, interest, fees and costs forgiven, home reappraised in 2009 and principal difference deducted from the original loan, give homeowners 2% loans over 27 years amortized over 40 years – more people would have stayed in their homes.

Livinglies's Weblog

Treasury Secretary nominee Steve Mnuchin kicked off his confirmation hearing Thursday with a defiant opening statement, mostly defending his record as CEO of OneWest Bank. He cast himself as a tireless savior for homeowners after scooping up failed lender IndyMac. “It has been said that I ran a ‘foreclosure machine,’” he said. “I ran a loan modification machine.”

But in stark contrast to his fuzzy statistics about attempted loan modifications, the victims of OneWest’s foreclosure practices have been real and ubiquitous.

A TV advertising campaign that’s been running in Nevada, Arizona, and Iowa features Lisa Fraser, a widow who says OneWest “lied to us and took our home” of 25 years, right after her husband’s funeral.

And on Wednesday, four women appeared at a congressional forum organized by Sen. Elizabeth Warren, relaying their stories of abuse at the hands of OneWest. Democrats had hoped to present the…

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1 thought on “David Dayen via The Intercept: Treasury Pick Steve Mnuchin Denies It, But Victims Describe His Bank as a Foreclosure Machine

  1. This greedy bold faced liar should be behind bars his wealth seized his titles stripped tarred and feathered! Loan modification machine ,ha! One west stole our home in 2012,well started in 2008 along with douche bank germany all the key forgeries robo signers falsified values and wages big time liars err,lawyers the whole cast hell even the auctioneer was in on our nightmare,least I forget the main player the judge whom wouldn’t budge on wether we had standing.?! We were barely coming out of the dark places we were forced into by fore mentioned parties when munchkin or wattever rears his ugly head and worst thing is he’s even more full of it and stepping up into the highest of places ,idk but this whole thing really sucks! Yeppers to lose everything and I mean all your worldly possessions and to have this P.O.S rising yet higher well it’s a very tough pill to swaller! Sry for the rant really lost track here but ,what can you do?

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