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The Countrywide financial political loan scandal in 2008-2009 involved U.S. politicians who allegedly received favorable mortgage rates.. In June 2008 Conde Nast Portfolio reported that numerous Washington, DC politicians over recent years had received mortgage financing at noncompetitive rates at Countrywide Financial because the corporation placed the officeholders in a program called "FOA's ...
The latest federal lawsuit over alleged mortgage fraud paints an unflattering picture of a doomed lender: Executives at Countrywide Financial urged workers to churn out loans, accepted fudged ...
Former Countrywide leaders Angelo Mozilo and David Sambol. Source: Company annual report. Countrywide Financial and its former, now-vilified CEO Angelo Mozilo are synonymous with the greed and ...
Angelo Robert Mozilo (December 16, 1938 – July 16, 2023) was an American mortgage industry banker who was co-founder, chairman of the board, and chief executive officer of mortgage giant Countrywide Financial until July 1, 2008. Mozilo retired shortly after the sale to Bank of America for a total of $4.1 billion in stock.
By late 2008, Countrywide Financial was on its way down the tubes, with a 91% decline in stock value from its top price. During the 2008 mortgage meltdown, Mozilo's remarkable copper-colored ...
Joshua Roberts/Bloomberg via Getty ImagesFormer Countrywide executive Rebecca Mairone testifying before Congress in 2010. By Nate Raymond NEW YORK -- Bank of America was found liable for fraud ...
The Illinois Attorney General filed a lawsuit against Countrywide, now a mortgage lending subsidiary of Bank of America, for allegedly discriminating against African American and Latino homeowners.
Former Countrywide Financial CEO Angelo Mozilo has become the highest-profile executive to be accused of wrongdoing in the subprime mortgage meltdown. The Securities and Exchange Commission ...