Friday, March 20, 2009
House GOP Report Details Countrywide's Efforts to Benefit VIPs
Executives at Countrywide Financial, one of the biggest names of the housing boom, routinely violated internal company policies to provide below-market rates on home loans to the politically connected and powerful, according to a congressional report to be released today.
Loan documents show how far Countrywide went to give loans to VIPs through a program known as "Friends of Angelo," named after the company's chief executive Angelo Mozilo, according to congressional investigators. Executives manually overrode the company's computer software that routinely warned that certain additional fees would be necessary to accommodate below-market rates...
Washington Post: House GOP Report Details Countrywide's Efforts to Benefit VIPs
Loan documents show how far Countrywide went to give loans to VIPs through a program known as "Friends of Angelo," named after the company's chief executive Angelo Mozilo, according to congressional investigators. Executives manually overrode the company's computer software that routinely warned that certain additional fees would be necessary to accommodate below-market rates...
Washington Post: House GOP Report Details Countrywide's Efforts to Benefit VIPs
Permalink posted by markw @ 4:23 AM 
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