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Treasury nominee Steve Mnuchin used robo-signing to foreclose on loans: ‘The guy is just lying’

The vote on Steve Mnuchin’s nomination as secretary of the Treasury is scheduled for 6PM ET Monday night. But only hours before that vote, information has emerged showing that the former OneWest CEO straight-out lied to senators during his confirmation hearing.

[Mnuchin] flatly denied in testimony before the Senate Finance Committee that OneWest used “robo-signing” on mortgage documents.

But records show the bank utilized the questionable practice in Ohio.

“The guy is just lying. There’s no other way to say it,” said Bill Faith, executive director of the Coalition on Homelessness and Housing in Ohio.

Robo-signing is when a mortgage company generates hundreds or thousands of near-identical foreclosure documents without conducting the necessary—and legally required—review. Mnuchin denied that OneWest had used this practice, despite widespread accusations. 

But an analysis by the Columbus Dispatch found not just a few cases of these bulk-created documents, but more than 1,900 cases in Ohio alone. Individual cases reveal OneWest declaring properties vacant even though someone was living there, and refusing to abide by agreed upon loan modifications. 

It’s not just the evidence collected by the Dispatch that proves Mnuchin is lying. 

From her office in Austin, Texas, [Erica Johnson-Seck, vice president of OneWest] robo-signed an average of 750 foreclosure documents a week, according to a sworn deposition she gave in a Florida case in July 2009.

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