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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 ...
On June 17, 2008, Dodd met twice with reporters and gave accounts of his mortgages with Countrywide. He admitted to reporters in Washington, D.C., that he knew as of 2003 that he was in a VIP program, but claimed it was due to being a longtime Countrywide customer, not due to his political position.
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 ...
Countrywide's vast numbers of fraudulent mortgages-- which were created to feed a securitization machine, not to secure repayment of properly underwritten loans -- may still doom Bank of America ...
Angelo Mozilo, former chief executive of Countrywide Financial and a key player in the subprime mortgage meltdown that led to the 2008 financial crisis, died Sunday.
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 ...
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 ...