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LA Times: Report says Treasury nominee Steve Mnuchin misled senators about foreclosures by OneWest Bank

Livinglies's Weblog

http://www.latimes.com/business/la-fi-mnuchin-treasury-onewest-20170130-story.html

An Ohio newspaper reported that Steve Mnuchin, President Trump’s nominee to be Treasury secretary, misled senators about foreclosures by OneWest Bank while he was chief executive, providing more fuel to opponents ahead of a contentious committee confirmation vote scheduled for Monday.

The Columbus Dispatch reported Sunday that Mnuchin denied in written responses to questions from the Senate Finance Committee that OneWest engaged in so-called robo-signing of mortgage documents.

The paper said its analysis of nearly four dozen foreclosure cases in Ohio’s Franklin County in 2010 showed the bank “frequently used robo-signers.”

The practice, prevalent throughout the mortgage industry in the aftermath of the financial crisis, involved employees at financial firms signing foreclosure documents en masse without properly reviewing them.

Democrats sharply criticized Mnuchin during his confirmation hearing on Jan. 19 concerning OneWest’s foreclosures while he ran the Pasadena bank from 2009 to 2015. They called the…

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