Borrower claims Countrywide voided mortgage payments

Borrower claims Countrywide voided mortgage payments

CHARLOTTE, N.C., Dec. 27 (UPI) -- A homeowner in North Carolina says he is entitled to live in his house for free based on a verbal agreement with Countrywide Financial made in 2008.
Commentary: American dream -- or nightmare

Commentary: American dream -- or nightmare

WASHINGTON, Oct. 7 (UPI) -- Is the anti-capitalist “Occupy Wall Street” movement, now spreading from New York to other major cities, splitting the Democrats as the Tea Party split Republicans?
Report: Countrywide investigation ends

Report: Countrywide investigation ends

LOS ANGELES, Feb. 18 (UPI) -- U.S. prosecutors have decided they cannot prove a criminal case against the former chairman of Countrywide Financial Corp., the Los Angeles Times says.

Illinois to sue top mortgage lender

SPRINGFIELD, Ill., June 25 (UPI) -- Illinois Attorney General Lisa Madigan said she would sue the nation's largest mortgage lender for overselling risky loans.

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.

Obama's chief VP vetter resigns

WASHINGTON, June 11 (UPI) -- An official linked to the mortgage scandal resigned Wednesday as head of U.S. Sen. Barack Obama's vice presidential search team, the Obama campaign said.
Obama aide's Countrywide ties at issue

Obama aide's Countrywide ties at issue

WASHINGTON, June 10 (UPI) -- A political news Web site says the presence of Democratic Party insider Jim Johnson in Barack Obama's presidential campaign has become a distraction.

Report: Countrywide OK'd politico loans

WASHINGTON, June 7 (UPI) -- The head of U.S. mortgage lender Countrywide Financial Corp. allegedly approved special loans to politically connected borrowers, a report said.

Countrywide execs to get millions

CALABASAS, Calif., March 29 (UPI) -- Countrywide Financial Corp.'s top executives will get hefty payments in the company's merger with Bank of America, filings with U.S. regulators indicate.

Pension group seeks Countrywide CEO ouster

CALABASAS, Calif., Oct. 23 (UPI) -- A group representing pension funds is trying to oust the chairman of U.S. lender Countrywide Financial, citing investigations and the company's sub-prime woes.

SEC questions Countryside CEO stock sale

NEW YORK, Oct. 18 (UPI) -- The U.S. Securities and Exchange Commission reportedly has opened an informal investigation into stock sales of the chief executive of Countrywide Financial.

Coutrywide to cut workforce by 20 percent

CALABASAS, Calif., Sept. 7 (UPI) -- Countrywide Financial Corp., based in California, announced Friday that as many as 12,000 of its staffers could be out of work soon.

Top mortgage lender faces credit crunch

LOS ANGELES, Aug. 16 (UPI) -- The mortgage lender calling itself No. 1 in the United States is reported facing widespread credit worries and maybe even bankruptcy.

Corporate execs offered big pensions

LOS ANGELES, Jan. 29 (UPI) -- Major corporations are doing away with costly employee pension plans, but not for executives, the Los Angeles Times reports.

Higher rates will not harm mortgage market

CALABASAS, Calif., June 29 (UPI) -- Countrywide Financial of Calabasas, Calif., said Tuesday higher interest rates should have little impact on the mortgage market.
Angelo Mozilo
Angelo Mozilo, founder and CEO of Countrywide Financial Corporation (second from right), testifies before a House Oversight and Government Reform Committee hearing on the compensation mortgage company CEOs receive on Capitol Hill in Washington on March 7, 2008. This hearing is part of Congress' ongoing examination of the subprime mortgage crises. From left are Richard Parsons, chairman of Citigroup's Personnel and Compensation Committee; E. Stanley O'Neal, former chairman and CEO of Merrill Lynch; John Finnegan, chairman of Merrill Lynch's Management Development & Compensation Committee; Mozilo; and Harley Snyder, chairman of Countrywide Financial Corporation's Compensation Committee. (UPI Photo/Roger L. Wollenberg)

Angelo R. Mozilo (born 1938) was the chairman of the board and chief executive officer of Countrywide Financial until July 1, 2008. Condé Nast Portfolio ranked Mozilo second on their list of "Worst American CEOs of All Time".

Mozilo was born in New York City, the son of a Bronx butcher. He received a Bachelor of Science degree from Fordham University in 1960. In 1969, he and his former mentor David S. Loeb, who had already started a mortgage lending company, founded Countrywide Credit Industries in New York. They later moved the headquarters to Pasadena, California and then to Calabasas, California in Los Angeles County. Mozilo and Loeb also cofounded IndyMac Bank, which was founded as Countrywide Mortgage Investment, before being spun off as an independent bank in 1997. IndyMac collapsed and was seized by federal regulators on July 11, 2008.

Since Countrywide was listed on the NYSE in 1984, Mozilo has 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.

This article is licensed under the GNU Free Documentation License.
It uses material from the Wikipedia article "Angelo Mozilo."
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