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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 ...
It previously existed as an independent company called Countrywide Financial from 1969 to 2008. In 2008, Bank of America purchased the failing Countrywide Financial for $4.1 billion. In 2006, Countrywide financed 20% of all mortgages in the United States, at a value of about 3.5% of the United States GDP, a proportion greater than any other ...
Testimony in a New Jersey foreclosure case decided last week may spell big trouble for Bank of America (BAC). If what one bank employee said on the stand proves to be accurate, paperwork problems ...
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 Mozilo, the former head of Countrywide Financial, isn't going to jail.In fact, he won't even face a trial in which there's a chance of going to jail -- nor will he experience the stress of ...
The Select Committee on Ethics said it found "no credible evidence" that Dodd knowingly sought out a special loan or treatment because of his position, but the panel also said in an open letter to Dodd that the lawmaker should have questioned why he was being put in the "Friends of Angelo" VIP program at Countrywide: "Once you became aware that ...
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 ...
Pages in category "Congressional scandals" The following 23 pages are in this category, out of 23 total. ... Countrywide Financial political loan scandal;