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Processing these loans. our bank was able to do over 100,000 loan modifications that allowed people to stay in their homes. unfortunately, not all the loans were able to be saved and des spite my best effort, some were lost to foreclosure. so concerned, in 2010 i instructed my lawyers to sue hsbc as trustee of the securitized loans to allow us to do loan modifications on loans and mortgage trusts that they oversaw. we won on summary judgment and were consequently allowed to do more loan modifications and keep more americans in their homes. similarly in 2015 when hud issued mortgagee later 2015...

So we believed in loan modifications and we were financially incentivized to offer them when we could, so thank you, senator. >> mr. chairman, i look forward to a second round. >> thank you, mr. chairman, mr. mnuchin, congratulations on your nomination bread i had a different line of question, but i have to be honest, the information that came to us this morning makes me concerned. you have addressed some but not all. on december 19th of last year, you signed a notarized affidavit on your questionnaire to the finance committee certifying that it was true, accurate, and complete. question 11 of...

There are certain things that were in the press and the most troubling loan we had was actually to the octo mom. we worked very, very hard and we worked very, very hard to move her to another home that they could afford. but i can assure you that as chairman of the bank, i took these issues very seriously. it's not to say that we didn't have certain mistakes. there were mistakes, we regret those mistakes. as i mentioned, we had hundreds of thousands of delinquent loans. just as an aside, when you talk about loan modifications, banks are highly incented to make loan modifications. anybody who t...

The rules of government-backed reverse mortgages. a source familiar with onewest operations told cnn the department of housing and urban development, or hud, set up specific rules, deadlines and procedures banks had to follow and said onewest under steve manuchin but just following thoe rules. a hud spokesperson told cnn while it doesn't dispute it has strict rules for government-backed reverse mortgages the spokesman said onewest had the ability to give survivors more time but chose not too. manuchin didn't answer question directly but a spokesperson says the nominee for the u.s. treasury sec...

The rules of government-backed reverse mortgages. a source familiar with onewest operations told cnn the department of housing and urban development, or hud, set up specific rules, deadlines and procedures banks had to follow and said onewest under steve mnuchin but just following those rules. a hud spokesperson told cnn while it doesn't dispute it has strict rules for government-backed reverse mortgages the spokesman said onewest had the ability to give survivors more time but chose not too. mnuchin didn't answer questions directly but a spokesperson says the nominee for the u.s. treasury sec...