Forum with Mnuchin Bank OneWest Foreclosure Victims
On Wednesday , January 18 at 2:15pm, Senator Elizabeth Warren (D-MA) and Democratic Policy and Communications Committee (DPCC) Chairwoman Debbie Stabenow (D-MI) hosted a forum with Americans from across the country who were victimized by Department of Treasury nominee Steven Mnuchin, and shared first-hand the vicious, and often illegal, practices that Mnuchin oversaw at OneWest to force people from their homes. Video of the event is available below.
WITNESSES
Colleen Ison-Hodroff, Minneapolis, MN
Colleen is 84 years old. When her husband bought a reverse mortgage on their fully paid-off home through OneWest subsidiary Financial Freedom, the broker assured the couple that Colleen could keep living there even if her husband passed away. Yet just days after her husband's funeral, Colleen received a notice that she had to immediately pay off the full balance of her loan or face foreclosure. She has been fighting to keep her home ever since.
Heather McCreary, Sparks, NV
Heather and her husband did everything they were told, multiple times, to obtain a loan modification from OneWest after they lost income because of the 2008 financial crisis. OneWest strung them along for years but then foreclosed so abruptly that it left Heather, her husband, and their two twin boys out on the street.
Sylvia Oliver, Scotch Plains, NJ
Sylvia has been trying for years to get a loan modification from OneWest - and for years, the bank has refused to work with her in good faith. As of today, her foreclosure is scheduled for tomorrow - the day of this forum - but she has still traveled to DC to share her story.
Cristina Clifford, Carlsbad, CA
Cristina is a self-employed small business owner. She carefully followed OneWest's instructions for obtaining a loan modification and sent in the required paperwork along with her payment. OneWest twice deposited her check but claimed it hadn't received the paperwork that was included in the same package as the check. Cristina ultimately lost her home through foreclosure despite OneWest's assurances that they would work with her to modify her loan and avoid foreclosure.
Paulina Gonzalez, Executive Director of the California Reinvestment Coalition
The California Reinvestment Coalition has been the leading outside organization tracking OneWest foreclosures. Paulina has worked for over 20 years leading economic justice organizing campaigns to expand worker rights, immigrant rights, and the rights of low income and underrepresented communities of color. She is also a member of the Consumer Financial Protection Bureau's Consumer Advisory Board.
OPENING STATEMENTS
