Steven Mnuchin Defends His Role in IndyMac

Steven Mnuchin, President-elect Donald Trump’s nominee for Treasury secretary, began his Senate confirmation hearing by defending his role in the thousands of foreclosures by Independent National Mortgage Corporation, also referred to as "IndyMac."

"In the press, it has been said that I ran a ‘foreclosure machine,’” Mnuchin told the Senate Finance Committee.

He insisted that he made efforts to keep people in their homes by providing 100,000 loan modifications.

“I felt great empathy for the thousands of Americans who lost their home because of a system that failed them,” Mnuchin stated.

Mnuchin, 53, is a Goldman Sachs veteran and former Hollywood producer. In 2009, during the height of the financial crisis, Mnuchin and a group of investors bought the remains of the failed IndyMac Bank, renaming it OneWest Bank.

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from ABC News: Politics http://ift.tt/2jcGAWZ

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