Skip to main content

Mnuchin Trades Barbs With Ellison and Waters in House Hearing

Phil Hall
Jul 28, 2017
A total of 177,146 properties carried foreclosure filings in the third quarter, down six percent from the previous quarter and down eight percent from a year ago to the lowest level since the fourth quarter of 2005

Perhaps it was the surplus amount of drama in the healthcare debate and the internecine squabbling in the White House that distracted attention, but yesterday’s appearance by Treasury Secretary Steve Mnuchin before the House Financial Services Committee sparked an unusual exchange of insults between the cabinet member and a pair of legislators.
According to a CNN Report, Rep. Keith Ellison (D-MI) raised the term “foreclosure king” in reference to Mnuchin; in the period before Mnuchin’s confirmation, Democrats led by Sen. Elizabeth Warren (D-MA) tried to tar the former IndyMac executive with that title. Mnuchin responded to Ellison’s comment by stating, “I take great offense to anybody who calls me the foreclosure king.”
Ellison then pressed Mnuchin on robo-signing, and Mnuchin responded, “I don't think you even know what the definition of robo-signing is.”
At that point, Rep. Maxine Waters (D-CA), the committee’s ranking Democrat, interrupted the proceeding to ask Rep. Jeb Hensarling (R-TX), the committee chairman, “Would like to give the secretary an opportunity to apologize to Mr. Ellison?” Mnuchin responded, “I'm not apologizing to anybody because robo-signing is not a legal term and I was being harassed.”

Jul 28, 2017
Crime Stories From The Trenches

Bad brokers, renegade Realtors, treacherous title agents. It’s getting tough out there.

Regulation and Compliance
Oct 26, 2021
Feds Reviewing Appraisal Standards, Qualifications

Appraisal Subcommittee said requirements are being reviewed to determine whether they ensure and promote fairness, equity, objectivity, and diversity, in both appraisals and in the training and credentialing of appraisers.

Regulation and Compliance
Oct 20, 2021
​​​​​​​FHFA OK's Desktop Appraisals, Expands Refi Criteria

The Federal Housing Finance Agency (FHFA) said Monday it will take two steps to help make home ownership more affordable and sustainable for mortgage borrowers, especially for those in underserved communities. 

Regulation and Compliance
Oct 19, 2021
CFPB Names 4 To Key Senior Positions

The appointees include two who helped create the bureau and two who served on the CFPB staff during the Obama administration.

Regulation and Compliance
Oct 14, 2021
FHFA Raises Enterprises' Multifamily Loan Purchase Caps

The Federal Housing Finance Agency (FHFA) said the 2022 multifamily loan purchase caps will be $78 billion for each Enterprise, for a combined total of $156 billion to support the multifamily market.

Regulation and Compliance
Oct 13, 2021
CFPB Hits AAG With Complaint For Deceptive Marketing Of Reverse Mortgages

The Consumer Financial Protection Bureau filed a complaint and proposed consent order, which alleges that American Advisors Group (AAG) used inflated and deceptive home estimates to attract reverse mortgage consumers.

Regulation and Compliance
Oct 12, 2021