Bank of America Home Loans is the mortgage unit of Bank of America.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 United States GDP, a proportion greater than any other single mortgage lender.
A Democratic committee chairman overrode his own subpoena three years ago in an investigation of former subprime mortgage lender Countrywide to exclude records showing that he, other House members and congressional aides got VIP discounted loans from the company.
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Probe: Congressmen, Fannie and Freddie execs got sweet Countrywide loans. of discounted loans while Countrywide Mortgage ran a VIP program for borrowers with. Countrywide VIP Program wrote.
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Since Countrywide was listed on the NYSE in 1984, Mozilo sold $406 million worth of its stock, mostly obtained through stock option grants. $129 million of this was realized in the 12 months ending August 2007. In the beginning, Countrywide was a pioneer in the nationwide non-bank mortgage industry.
The Department of Justice today filed its largest residential fair lending settlement in history to resolve allegations that Countrywide Financial Corporation and its subsidiaries engaged in a widespread pattern or practice of discrimination against qualified African-American and Hispanic borrowers in their mortgage lending from 2004 through 2008.
For most of his 18-year career as a U.S Navy pilot, Cmdr. David Fravor said his mother-in-law used to ask him a question: had he seen a UFO? For 15 years, the answer was no. But one clear afternoon.
Two powerful Senate Democrats said Tuesday that they knew they got low mortgage-rate deals in a lender’s VIP program but thought the special. for the House oversight committee. The Washington Times.
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“We’re Still in the Middle of the Storm” Timeline: Homeownership in America, 1995-2010 Extra. Angelo Mozilo, head of mortgage lender Countrywide Financial, delivered a lecture in 2003 entitled.
Countrywide Financial Corp., the one-time mortgage giant, may have "skirted the federal bribery statute," but nonetheless used a VIP discount program to gain influence. Issa says "the committe’s.