Topic: Angelo Mozilo
Quotes
Countrywide management remains confident that the company is well-prepared for such an environment, as our operations and past guidance have contemplated the potential impact of rising rates
Higher rates will not harm mortgage market Jun 29, 2004
The mortgage market will ultimately return to a normal level, in which refinance volume is substantially lower than we have seen during the last several quarters
Higher rates will not harm mortgage market Jun 29, 2004
In all my years in the business, I have never seen a more toxic product
Report: Countrywide investigation ends Feb 18, 2011
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.
It uses material from the Wikipedia article "Angelo Mozilo."