Treasury Pick Steven Mnuchin’s Reverse-Mortgage Woes

The transcript discusses Steve Mnuchin's potential role as Treasury Secretary and the scrutiny he faces due to his past management of a bank division called Financial Freedom, which is under investigation by HUD for its handling of reverse mortgages. The bank faced financial mismanagement, leading to a reserve shortfall. Mnuchin left the bank earlier than planned, earning significant profits. His mortgage history is politically contentious, with Democrats likely to focus on it during his confirmation process.

What are the main allegations that HUD is investigating regarding the division of the bank that Mnuchin ran?

What impact did the investigation have on the bank's financial status?

How much money did Mnuchin reportedly make from the bank, and what does this amount include?

How did the Democrats plan to address Mnuchin's ownership of the bank during the confirmation process?

What issues are raised regarding the foreclosure practices during Mnuchin's tenure at the bank?