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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.
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.
Remember, folks: "President Obama established the Financial Fraud Enforcement Task Force (FFETF) in November 2009 to hold accountable those who helped bring about the last financial crisis, and to ...
In 2006, when Mozilo was the chief of the mortgage lender Countrywide Financial, the firm originated $461 billion worth of loans -- close to $41 billion of which were subprime. Subprime loans were ...
Jesinoski v. Countrywide Home Loans, Inc., 574 U.S. 259 (2015), was a United States Supreme Court case in which the Court held that the Truth in Lending Act does not require borrowers to file a lawsuit to rescind loans and that sending written notice is sufficient to effectuate rescission. [1]
By Christina Rexrode 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 ...
Eileen foster was the executive vice president of Fraud Risk Management at Countrywide, and later senior vice president of the Mortgage Fraud Investigations Division at Bank of America (when the two merged), until she blew the whistle on massive and widespread systemic home loan fraud in 2008. [1]