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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 ...
Angelo Robert Mozilo (December 16, 1938 – July 16, 2023) was an Italian 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.
When whistleblower Kyle Lagow raised concerns about Countrywide Financial's practice of giving bloated appraisals on government-insured loans, he lost his job. Lagow filed a lawsuit resulting in a ...
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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 ...
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 ...
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Late last week, a former Countrywide Financial Corp. employee and his pal were arrested by the FBI for stealing and selling personal data of mortgage applicants. They estimate that up to 2 million ...