Mnuchin Trades Barbs With Ellison and Waters in House Hearing

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.”

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Phil Hall

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Jul 28, 2017

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