Archives by Tag ' OneWest '
The five largest U.S. banks have a combined loan portfolio of almost $3.8 trillion, which represents 40% of the total loans handed out by all U.S. commercial banks. See Forbes: $3.8 Trillion in Portfolio Loans I can spot around $300 billion that isn’t real. Let us help you plan your foreclosure defense strategy, discovery requests and […]
A potential investigation of foreclosure abuse by OneWest Bank, which was owned at the time by current Trump-appointee Treasury Secretary Steven Mnuchin, was abandoned after OneWest donated to the political campaigns of then-California Attorney General Jerry Brown (2006-2010) and incoming California Attorney General Kamala Harris (2011-2016). The “donations” (political bribes) occurred in 2010, shortly after […]
https://www.bna.com/mnuchins-onewest-eluded-n57982085901/ By Llewellyn Hinkes-Jones OneWest Bank, the mortgage servicer previously owned by now-Treasury Secretary Steven Mnuchin, avoided numerous lawsuits and settlements that affected other banks after the 2010 foreclosure crisis, a Bloomberg BNA analysis showed. Compared with other banks, it was given a relatively light penalty during the Independent Foreclosure Review (IFR) by the Office […]
Mnuchin’s lies to the U.S. Senate are only symptomatic of the continuous stream of lies producing a new normal of bank arrogance and the continuing push to foreclose on homeowners as a means to gain illicit profits. Perhaps the flagrancy of his lies will awaken lawmakers to the fact that the entire financial system has […]
By Alan Johnson The Columbus Dispatch Jill Riepenhoff The Columbus Dispatch President Donald Trump’s nominee for U.S. treasury secretary was untruthful with the Senate during the confirmation process, documents uncovered by The Dispatch show. Steve Mnuchin, former chairman and chief executive officer of OneWest Bank, known for its aggressive foreclosure practices, flatly denied in testimony […]
The Bigger Problem: Assignments from Nonexistent Entities Dan Edstrom, senior forensic analyst, highlights a disturbing pattern: what happened in Chase-WAMU and IndyMac-OneWest is being replicated in hundreds of foreclosure chains. Regulators often call these foreclosures merely “faulty.” But when foreclosing parties rely on entities that don’t exist to execute assignments years after bankruptcy, that’s not […]
If only all courts would entertain the possibility that everything presented to them should be the subject of intense scrutiny, 90%+ of all foreclosures would have been eliminated. Imagine what the country would look like today if the mortgages and fraudulent foreclosures failed. The Banks say that if the mortgages failed they all would go […]
The stakes could not be higher. Mnuchin’s ascension to the position of Secretary of the Treasury is literally installing a person who will merely respond to the direction of the Wall Street bankers and who will be largely unresponsive to whoever occupies the Oval Office. This is a terrible decision and the resistance to him […]
Documents show that state prosecutors and Treasury Department regulators believed Steve Mnuchin’s bank was mishandling foreclosures at the height of the financial crisis. Alexia Fernández Campbell In 2011, at the peak of the housing crisis, regulators for the Treasury Department ordered Steve Mnuchin and directors at OneWest Bank in California to fix the bank’s […]
http://money.cnn.com/2017/01/04/news/mnuchin-onewest-california-memo/ California investigators wanted to file a lawsuit in 2013 against a bank owned by Steven Mnuchin, President-elect Donald Trump’s pick to run the Treasury Department, for misconduct during foreclosures, according to an internal memo obtained by CNN. The memo and a draft civil complaint accused the bank, OneWest, of backdating thousands of documents, violating […]
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