Unsurprisingly, Democrats and Republicans reacted much differently to Steven Mnuchin officially being sworn in as the next secretary of the Department of Treasury, reports HousingWire staffer Ben Lane.

House Financial Services Committee Chairman Jeb Hensarling, R-Texas, congratulated Mnuchin on his new job and said he looks forward to “working with him in my capacity as Chairman of the Financial Services Committee to advance policies that will help all Americans raise their standard of living and create a healthy economy.”

The Ranking Member of the Committee on Financial Services, Rep. Maxine Waters, D-California, had the opposite reaction. “I am extremely disappointed in Senate Republicans for clearing the way for yet another Wall Street insider to take a critical leadership position in the Administration,” Waters said in a lengthy statement.

Mortgage Bankers Association President and CEO David Stevens celebrated Mnuchin and said the trade group is eager to work with him. “Specifically, we are encouraged by Secretary Mnuchin’s willingness to focus on GSE reform, tax reform and re-balancing the mortgage market regulatory framework,” Stevens added. “MBA looks forward to working with the Secretary, his team and other members of the Administration to address these and other issues facing the real-estate finance industry and the American economy.”

Read more >