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Conditions, extend assistance, increase the net present value of cash flows to the owner of loan, and stabilize housing markets. my group had to adhere to servicing agreements that limited our ability to make own modifications that could have helped more borrowers. in the press it has been said that i ran a foreclosure machine. this is not an accurate description of my role at one west bank. on the contrary, i was committed to loan modification intended to stop foreclosures. i ran a loan modification machine. when we could do loan modifications, we did them, but many times the fdic, fannpha fa...

These agreements. we committed to do loan modifications. so when we bought the bank, that was the agreement. as i've said before, we were proud of loan modifications started there. and we actually had a bunch of incentives, whether it was other things in the loss share agreement where it was actually much better for us to do loan modifications. as i've said before, i can assure you what prevented us from doing more loan modifications was another the net present value test or was what was the qualification in so we were required to get updated income and people had to have -- had to be able to ...

Lending, unquote, during the housing crisis. an investor group that you headed folder by reformed indy mac, a failed institution, responsible for many low and no-doc mortgage loans into a viable constitutiinstitution ca west, which you've described here, which offered loan modifications above and beyond what other institutions were doing to more than 100,000 borrowers, at least that's the way it looks to me. meanwhile, during all of the foreclosure turmoil, obama administration officials set up a national loan modification program called hamp. many members of congress from both sides of the ai...

These legacy loans were included in the purchase. the responsibility landed on me to clean up the mess others made but we inherited. we worked very hard to help homeowners remain in their homes through modifications wherever possible. ultimately, one west extended over 100,000 loan modifications to delinquent borrowers to try to help them out of a bad situation. i am proud of the fact that loan modifications started at indy mac under the leadership of the fdic. however, the fdic loan modification program did not work for everyone. when the fdic took over indy mac, they estimated that more than...

Steven mnuchin, and the other for rick perry to lead the energy department. we want to listen in to steve mnuchin giving his statement. >> extended offer 100,000 loan modifications to delinquent born owers to try to help them out of a bad situation. i am proud of the fact that loan modifications started at indy mac under the leadership of the fdic. however, the fdicoan modification program did not work for everyone. when the fdic took over indy mac, they estimated more than half of foreclosures would not meet their test for modification and they demanded policy