--- title: "Meaning & Key Takeaway of: I ran a 'loan modification machine.'" description: "\"I ran a 'loan modification machine.'\" — Steve Mnuchin" image: "https://sms4smile.com/quotes/i/e53/steve-mnuchin-9731_computers_i-ran-a-loan-modification-machine-175917_1759179.jpg" --- # I ran a 'loan modification machine.' ![“I ran a 'loan modification machine.'” quote by Steve Mnuchin](https://sms4smile.com/quotes/i/e53/steve-mnuchin-9731_computers_i-ran-a-loan-modification-machine-175917_1759179.jpg) [Download](https://sms4smile.com/quotes/i/e53/steve-mnuchin-9731_computers_i-ran-a-loan-modification-machine-175917_1759179.jpg) [Open image](https://sms4smile.com/quotes/i/e53/steve-mnuchin-9731_computers_i-ran-a-loan-modification-machine-175917_1759179.jpg) > “I ran a 'loan modification machine.'” [Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. He operated a system that aggressively altered loan terms for profit. **In simple terms:** A loan‑modification scheme for profit. Key Takeaway Scrutinize loan changes for fairness. Themes finance ethics exploitation Mood critical concerned Type expositional informative When to use this quote - mortgages - debt relief - policy reform Key Concepts banking regulation consumer protection Questions to Reflect On - How can borrowers protect themselves? - What regulations curb such practices? A Different Perspective Profit motives can conflict with borrower welfare. ★ ★ ★ ★ ★ No ratings yet [Computers](https://sms4smile.com/quotes/about/computers/) [Loan](https://sms4smile.com/quotes/about/loan/) [Loan Modification](https://sms4smile.com/quotes/about/loan-modification-1677538/) [Machine](https://sms4smile.com/quotes/about/machine/) [Modification](https://sms4smile.com/quotes/about/modification/) [Modification Machine](https://sms4smile.com/quotes/about/modification-machine-1677539/) [Ran](https://sms4smile.com/quotes/about/ran/) [Ran Loan](https://sms4smile.com/quotes/about/ran-loan-1677540/) ## Related quotes > [We were the first bank to start a loan modification at IndyMac and had a very good record of working with the regulators.](https://sms4smile.com/quotes/steve-mnuchin/we-were-the-first-bank-to-start-a-loan-modification-at-indymac-and/) [Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/) > [For many, the loan modification process has been a giant sham.](https://sms4smile.com/quotes/lisa-madigan/for-many-the-loan-modification-process-has-been-a-giant-sham/) [Lisa Madigan](https://sms4smile.com/quotes/author/lisa-madigan/) > [It's time for the bully pulpit of the White House to bring the gangstas in, put them around the table and let them know…](https://sms4smile.com/quotes/maxine-waters/it-s-time-for-the-bully-pulpit-of-the-white-house-to-bring-the/) [Maxine Waters](https://sms4smile.com/quotes/author/maxine-waters/) > [We have seen the big loan servicers drag their feet in the Obama administration's well-intentioned mortgage modification program.](https://sms4smile.com/quotes/sheldon-whitehouse/we-have-seen-the-big-loan-servicers-drag-their-feet-in-the-obama/) [Sheldon Whitehouse](https://sms4smile.com/quotes/author/sheldon-whitehouse/) > [In the press, it has been said that I ran a foreclosure machine.](https://sms4smile.com/quotes/steve-mnuchin/in-the-press-it-has-been-said-that-i-ran-a-foreclosure-machine/) [Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/) > [It's a mistake to suppose that capacities must evolve gradually. There are many known examples of sharp changes - slight genetic modification that yields…](https://sms4smile.com/quotes/noam-chomsky/it-s-a-mistake-to-suppose-that-capacities-must-evolve-gradually-there/) [Noam Chomsky](https://sms4smile.com/quotes/author/noam-chomsky/) > [To avoid large and unsustainable budget deficits, the nation will ultimately have to choose among higher taxes, modifications to entitlement programs such as Social…](https://sms4smile.com/quotes/ben-bernanke/to-avoid-large-and-unsustainable-budget-deficits-the-nation-will/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) > [Because if I smashed anything, Team Jaiden would just get me into a behavior modification program, or maybe some doctor would put be on…](https://sms4smile.com/quotes/stefan-petrucha/because-if-i-smashed-anything-team-jaiden-would-just-get-me-into-a/) [Stefan Petrucha](https://sms4smile.com/quotes/author/stefan-petrucha/) > [I welcome opposing viewpoints, but I should warn you that you'll be facing off against the 2nd-place finisher at the 1981 Charleston County High-School…](https://sms4smile.com/quotes/stephen-colbert/i-welcome-opposing-viewpoints-but-i-should-warn-you-that-you-ll-be/) [Stephen Colbert](https://sms4smile.com/quotes/author/stephen-colbert/) > [We are completely unaware of our true nature because we identify ourselves with our body, our emotions and our thoughts, thus losing sight of…](https://sms4smile.com/quotes/jean-klein/we-are-completely-unaware-of-our-true-nature-because-we-identify/) [Jean Klein](https://sms4smile.com/quotes/author/jean-klein/) > [Whatever is fitted in any sort to excite the ideas of pain and danger, that is to say, whatever is in any sort terrible,…](https://sms4smile.com/quotes/edmund-burke/whatever-is-fitted-in-any-sort-to-excite-the-ideas-of-pain-and-danger/) [Edmund Burke](https://sms4smile.com/quotes/author/edmund-burke/) > [The dogmatic and, therefore, invulnerable core in Islam is understandably simple: acknowledgement of faith, prayer, charity and fasting. Almost everything else is open to…](https://sms4smile.com/quotes/tariq-ramadan/the-dogmatic-and-therefore-invulnerable-core-in-islam-is/) [Tariq Ramadan](https://sms4smile.com/quotes/author/tariq-ramadan/) > [We alter and customize the thing every century, every generation, every day - both in the courts and in our own homes. And marriage…](https://sms4smile.com/quotes/elizabeth-gilbert/we-alter-and-customize-the-thing-every-century-every-generation-every/) [Elizabeth Gilbert](https://sms4smile.com/quotes/author/elizabeth-gilbert/) > [Any plan is bad which is incapable of modification.](https://sms4smile.com/quotes/publilius-syrus/any-plan-is-bad-which-is-incapable-of-modification/) [Publilius Syrus](https://sms4smile.com/quotes/author/publilius-syrus/) > [If, in the opinion of the people, the distribution or modification of the constitutional powers be in any particular wrong, let it be corrected…](https://sms4smile.com/quotes/george-washington/if-in-the-opinion-of-the-people-the-distribution-or-modification-of/) [George Washington](https://sms4smile.com/quotes/author/george-washington/) ## More by Steve Mnuchin > [I earnestly feel terrible for any mistakes at the bank.](https://sms4smile.com/quotes/steve-mnuchin/i-earnestly-feel-terrible-for-any-mistakes-at-the-bank/) [Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/) > [My No. 1 priority is growth in the economy. Tax reform will be our first and most important part of that.](https://sms4smile.com/quotes/steve-mnuchin/my-no-1-priority-is-growth-in-the-economy-tax-reform-will-be-our/) [Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/) > [I have been maligned as taking advantage of others' hardship in order to make a buck. Nothing could be further from the truth.](https://sms4smile.com/quotes/steve-mnuchin/i-have-been-maligned-as-taking-advantage-of-others-hardship-in-order/) [Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/) > [As treasury secretary, I don't see it as my role commenting on the dollar in short-term movements.](https://sms4smile.com/quotes/steve-mnuchin/as-treasury-secretary-i-don-t-see-it-as-my-role-commenting-on-the/) [Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/) > [I have very good friends on Wall Street.](https://sms4smile.com/quotes/steve-mnuchin/i-have-very-good-friends-on-wall-street/) [Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/) > [Proprietary trading does not belong in banks with FDIC insurance.](https://sms4smile.com/quotes/steve-mnuchin/proprietary-trading-does-not-belong-in-banks-with-fdic-insurance/) [Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/) > [We've been in the business of regional banking, and we understand what it is to make loans, and that's the engine of growth to…](https://sms4smile.com/quotes/steve-mnuchin/we-ve-been-in-the-business-of-regional-banking-and-we-understand-what/) [Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/) > [I've had several different careers.](https://sms4smile.com/quotes/steve-mnuchin/i-ve-had-several-different-careers/) [Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/) > [Look, there is no question the Hollywood crowd predominantly supports Democrats. 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I've always believed in supporting the best candidate at the time.](https://sms4smile.com/quotes/steve-mnuchin/i-have-given-to-democrats-in-the-past-i-ve-always-believed-in/) [Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/) > [I don't support going back to Glass-Steagall as is.](https://sms4smile.com/quotes/steve-mnuchin/i-don-t-support-going-back-to-glass-steagall-as-is/) [Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/) > [Our most important priority is sustained economic growth, and I think we can absolutely get to sustained 3% to 4% GDP, and that is…](https://sms4smile.com/quotes/steve-mnuchin/our-most-important-priority-is-sustained-economic-growth-and-i-think/) [Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/) > [Trump has a pro-economic-growth tax plan, and we are sensitive to the cost of that plan.](https://sms4smile.com/quotes/steve-mnuchin/trump-has-a-pro-economic-growth-tax-plan-and-we-are-sensitive-to-the/) [Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/) > [Any time I hear 'border adjustment,' I don't love it. Because usually it means we're going to get adjusted into a bad deal.](https://sms4smile.com/quotes/steve-mnuchin/any-time-i-hear-border-adjustment-i-don-t-love-it-because-usually-it/) [Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/) > [The way to reduce the debt is by economic growth.](https://sms4smile.com/quotes/steve-mnuchin/the-way-to-reduce-the-debt-is-by-economic-growth/) [Steve Mnuchin](https://sms4smile.com/quotes/author/steve-mnuchin/) [Explore all 70 Steve Mnuchin quotes ](https://sms4smile.com/quotes/author/steve-mnuchin/) ## More Computers quotes > [I don't understand why we're all connected wirelessly via a little machine that goes in our pocket, to everybody in the world, and you…](https://sms4smile.com/quotes/jon-m-chu/i-don-t-understand-why-we-re-all-connected-wirelessly-via-a-little/) [Jon M. Chu](https://sms4smile.com/quotes/author/jon-m-chu/) > [“Probably it goes without saying, but time machine guys don't get a lot of action. 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They…](https://sms4smile.com/quotes/gina-sheridan/note-found-in-the-patron-suggestion-box-you-have-signs-up-near-the/) [Gina Sheridan](https://sms4smile.com/quotes/author/gina-sheridan/) > [“You weren't born to be a cog in the giant industrial machine. You were trained to become a cog. There's an alternative available to…](https://sms4smile.com/quotes/seth-godin/you-weren-t-born-to-be-a-cog-in-the-giant-industrial-machine-you-were/) [Seth Godin](https://sms4smile.com/quotes/author/seth-godin/) > [If you stood me in a costume next to a computer graphic of the same-looking character, I think there would be a difference. And…](https://sms4smile.com/quotes/warwick-davis/if-you-stood-me-in-a-costume-next-to-a-computer-graphic-of-the-same/) [Warwick Davis](https://sms4smile.com/quotes/author/warwick-davis/) > [The corporate state is an immensely powerful machine, ordered, legalistic, rational, yet utterly out of human control, wholly and perfectly indifferent to any human…](https://sms4smile.com/quotes/charles-a-reich/the-corporate-state-is-an-immensely-powerful-machine-ordered/) [Charles A. 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