Market Watch (Free subscription) | 06/09/2009
BOSTON (MarketWatch) -- Bank of America Corp. , which last year acquired Countrywide Financial Corp., is paying the legal fees of Angelo Mozilo, the former chief executive of the mortgage giant, Reuters reported Tuesday. The Securities and Exchange Commission last week charged Mozilo with fraud and insider trading. "Under the agreement that he had when Countrywide was an independent company,...
Financial24 (Free subscription) | 06/05/2009
June 4 - The U.S Securities and Exchange Commission on Thursday charged Countrywide Financial Corp co-founder Angelo Mozilo and two other former executives with securities fraud . The civil lawsuit accuses Mozilo, former Countrywide President 2 Vote(s)
Financial24 (Free subscription) | 06/05/2009
June 4 The U.S Securities and Exchange Commission on Thursday charged Countrywide Financial Corp co-founder Angelo Mozilo and two other former executives with securities fraud . > Counrtywide's Mozilo charged with fraud > NEWSMAKER-Ange 2 Vote(s)
USA Today (Free subscription) | 06/04/2009
The government is charging Angelo Mozilo, the former chief executive of mortgage lender Countrywide Financial Corp., and two ...
Bank Tech (Free subscription) | 05/28/2009
A federal judge in San Diego rejected Countrywide Financial Corp's bid to dismiss a lawsuit accusing it of steering borrowers into risky mortgages to maximize profit, lawyers for the plaintiffs said on Thursday.
Liberally Conservative (Free subscription) | 03/12/2009
We’ve discussed Senator Dodd (D-CT) and his relationships with Countrywide Financial but it seems Mr. Dodd went to Ireland for more shenanigans in his pursuit of favors and real estate. Hartford Courant columnist Kevin Rennie has uncovered another suspicious real-estate investment and here is a neat summary: In 1994, when the Senator became one-third owner of a [...]
Philadelphia Inquirer (Free subscription) | 03/12/2009
Even after Bank of America Corp. cut its dividend, wrote off bad-mortgage-debt losses from newly acquired Merrill Lynch & Co. Inc. and Countrywide Financial Corp., and accepted billions in government aid, the bank kept advertising "No Down Payment Required" home loans of "up to $1,000,000" at bargain conventional-loan rates.
New York Newsday (Free subscription) | 03/12/2009
The latest development in the mortgage market fomenting outrage in the streets and condemnation across the media spectrum is the spectacle of rich investors -- Wall Street traders, hedge fund operators, even former executives of the detested Countrywide Financial Corp. -- buying up delinquent home loans, reworking terms for borrowers, and selling them off to new investors at a handsome profit.
L. A. Times Dodgers Blog (Free subscription) | 03/12/2009
The latest development in the mortgage market fomenting outrage in the streets and condemnation across the media spectrum is the spectacle of rich investors -- Wall Street traders, hedge fund operators, even former executives of the detested Countrywide Financial Corp. -- buying up delinquent home loans, reworking terms for borrowers, and selling them off to new investors at a handsome profit.
kottke (Free subscription) | 03/11/2009
Some think it's unfair that the former president of Countrywide Financial, a mortgage company that played a big (and negative) role in the subprime mortgage debacle, is now the head of a company making big money buying troubled mortgages from the US government for cheap and then refinancing with the owner, making big money in the process. But as a Baltimorean explains to McNutty in the very first...
Seeker Blog (Free subscription) | 03/11/2009
Thanks to Cato: Solve the Housing Crisis (and Make Some Serious Money) for the link to this NYT article on PennyMac. Fairly or not, Countrywide Financial and its top executives would be on most lists of those who share blame for the nation’s economic crisis. After all, the banking behemoth made risky loans to tens of [...]
Say Anything (Free subscription) | 03/09/2009
According to Time , Senator Chris Dodd is suffering mightily in his home state of Connecticut thanks to his having taken sweetheart, VIP loans from Countrywide financial VIP Angelo Mozillo. Dodd is looking increasingly vulnerable. The silver-haired father of two young girls is facing his toughest re-election fight ever, and he doesn’t even have an opponent yet. (CNBC pundit Larry Kudlow and former...
Instapundit.com (Free subscription) | 03/06/2009
HMM: Dodd Undecided About 2010: Dautrich said allegations concerning a 2003 mortgage from now the defunct Countrywide Financial are alienating him from moderate voters. Dodd allegedly received a “sweetheart” deal on the mortgage with VIP service and a below market rate because of his position as Chairman of the Senate Banking and Finance Committee. Although Dodd [...]
Balloon Juice (Free subscription) | 03/06/2009
Gail Collins rants about the story we talked about the other day: I am having a tough time dealing with news that the former president of Countrywide Financial, the mortgage company that did so much to dig the hole in which we all now reside, is making a killing buying up delinquent mortgage loans from the [...]
Instapundit.com (Free subscription) | 03/06/2009
MORE ON “FRIEND OF ANGELO” FRANKLIN RAINES: “Former Fannie Mae Chief Executive Officer Franklin Raines was offered a 4.125 percent mortgage from Countrywide Financial Corp. in 2003, more than a percentage point less than the national average at the time, according to documents provided by a congressional committee. . . . Raines, [...]
Videos