Conrad moves to quell mortgage controversy

WASHINGTON, June 15 (UPI) -- U.S. Sen. Kent Conrad says he will donate $10,500 to charity because he discovered he received preferential treatment from a troubled mortgage firm.

The North Dakota Democrat was among a stellar list of Hollywood celebrities and political figures who were part of a VIP program operated by Countrywide Financial Corp., at one time the country's biggest home loan maker but now under investigation for its role in the mortgage crisis, the Los Angeles Times reported.

Conrad said he never asked for special treatment from Countrywide, but upon examining e-mails he received from the company, he determined he had been given special loan terms, and so would donate $10,500 to charity to compensate for the benefits, the newspaper said.

Conrad told the Times he had spoken once with Countrywide Chief Executive Officer Angelo Mozilo after being introduced to him by Jim Johnson. The Democratic Party insider last week resigned from a post to help likely Democratic presidential nominee Barack Obama find a running mate because of his own ties to Countrywide.

Conrad and Johnson both deny any wrongdoing, with Conrad telling the Times he wanted to act aggressively because, he said, "I do not want to receive preferential treatment."