Fun With Steven Mnuchin! Trump's Treasury Pick Foreclosed On Old Lady Over Twenty-Seven Cents
Remember when Donald Trump got so excited about the coming 2008 Great Recession, because "I've always made more money in bad markets than good"?
Well, someone else saw a lot of opportunity in 10 percent unemployment and four million foreclosures per year, and that someone was Donald Trump's pick for Treasury secretary, Steven Mnuchin!
Hold on to your barf bags!
Two years ago, OneWest filed foreclosure papers on the Lakeland, Fla., home of Ossie Lofton, who had taken a reverse mortgage, a loan that supplies cash to elderly homeowners and doesn’t require monthly payments.
After confusion over insurance coverage, a OneWest subsidiary sent Lofton a bill for $423.30. She sent a check for $423. The bank sent another bill, for 30 cents. Lofton, 90, sent a check for three cents. In November 2014, the bank foreclosed.
Oh, in case it wasn't clear, OneWest was Mnuchin's bank, which he bought from the bones of IndyMac, and the federal government gave him billions in FDIC insurance payments and then he foreclosed on that old lady in addition to 36,000 others, everything is wonderful, the end.
[ Politico ]