Treasury Pick Exchanges Barbs With Senator at Hearing

Sen. Sherrod Brown, D-Ohio, grilled Steve Mnuchin on his role at IndyMac, a failed bank that was seized by the U.S. government.
3:30 | 01/19/17

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Transcript for Treasury Pick Exchanges Barbs With Senator at Hearing
The true the community groups say that one west foreclosed on 60000 families nationwide and denied 34 supported mortgage. Modification applications. I am I am not aware of that I know they've looked like they did it pays Rula if you know they get them welcome I went out I want to hear from you if you don't know or haven't in front of me I'm I'm gonna keep an erupting as we know what time I apologize if you see that is route but this is I don't this is of people that I think is it true that one west regulators at the OCC. Said the UN deficient mortgage practices foreclosed on 101000 plus borrowers. Without proper procedure and at least 23 who were current on their mortgages. So what I would say as we follow the same procedure answered that the FDOCC's say that that the FDIC. Followed we inherited the FDIC OC receives errors. Not a matter the question. Is it true that one west independent audit firm said that it violated the service member civil relief act. By initiating foreclosures and 54 active duty military families that's at the independent audit firms that yes are now. What you have the document in front of you I don't. Well they zero I and let me say I'm pretty surprised miss new action I'm sorry I'm pretty surprised you don't know these things because you've been. Rather defensive for probably good reason about what happened it did it one west I prove that the California attorney I if you want it just comment for the record. We unfortunately did foreclose on certain people in the military was quite unfortunate it was inappropriate. We responded to those people and made them whole as I sat every single person. Had the opportunity out there mortgage reviewed and we corrected any errors are errors were less than program but he Al's I don't get a job that I'm being defensive I'm proud. Of our well I wouldn't be proud of all these findings but is it true the California attorney general's office said that when west. Back dated 96%. Of the documents examined. In then you aggressively obstructed their investigation. That's what the attorney general's office said they say that so first let me comment that I saw the leaked memo is huge did I think it's highly inappropriate that somebody at the attorney general's office. Was always are no truth and that about back in nineteen at least against the opportunity again what I would say is the primary regulator was the other CCA. They were the ones who had the obligation to regulate and OCC said Estrada you could name a canister neutrons are. OCC said these and they they. They said you read these deficient mortgage practice which you could remember when I ask you about it she's 9% OCC. And in response cal torturing general. Is it true that one of the employees who was in charge of the modification. One of one west employees accused one west. I'm not having any process in place to help its 3000 FHA and VA mortgage borrowers abort avoid foreclosure. In that this same employee who was in charge of modifications. Has accused one west of not having a process in place. On to help those VA mortgage borrowers avoid foreclosures and submitting faults claims it seems to me. An altar respected just wanna shoot questions that they would not let you let me explain where compound only to explain Africa so questions because they don't wanna answer will take Bible times what you explain when I'm done well then let mister manager I'm sorry missile or must understand these are complicated they are they are complicated let me at least explain them otherwise there's no point in shooting them all at me and I don't have the polluter respond.

This transcript has been automatically generated and may not be 100% accurate.

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