David Dayen at The Intercept: Mnuchin Lied About His Bank’s History of Robo-Signing Foreclosure Documents

And it all begins. Home prices are already falling in my area.

Livinglies's Weblog

By David Dayen

https://theintercept.com/staff/davidd/

Treasury secretary nominee Steven Mnuchin lied in his written responses to the Senate Finance Committee, claiming that “OneWest Bank did not ‘robo-sign’ documents,” when ample evidence proves that they did.

Mnuchin ran OneWest Bank from 2009 to 2015 in a manner so ruthless to mortgage holders that he has been dubbed the “Foreclosure King” by his critics.

The robo-signing scandal involved mortgage companies having their employees falsely sign hundreds of affidavits per week attesting that they had reviewed and verified all the business records associated with a foreclosure — when in fact they never read through the material and just blindly signed off. Those records, in many cases, were prepared improperly, but the foreclosures went ahead anyway because of the fraudulent affidavits.

Treasury Secretary-designate Steven Mnuchin listens while testifying on Capitol Hill in Washington, Thursday, Jan. 19, 2017, at his confirmation hearing before the Senate Finance Committee. Mnuchin built his reputation and his fortune as a savvy Wall Street investor but critics charge that he profited from thousands of home foreclosures as the chief of a sub-prime mortgage lender during the housing collapse. (AP Photo/J. Scott Applewhite)

Mnuchin on the Hill

Scott Applewhite/AP

“Did OneWest ‘robo-sign’ documents relating to foreclosures and evictions?” Sen. Bob Casey, D-Penn., asked Mnuchin as a “question…

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