Report: Countrywide Downgraded Underwriting Standards To Offer Discount Loans to Friends of Angelo for Influence
July 12, 2012
For more than a decade, Countrywide Financials VIP Program approved nearly 18,000 sweet-heart mortgages to congressmen, policymakers and officials at the government-sponsored enterprises in an effort to curry favor in Washington and strengthen its business relationship with Fannie Mae, ac-cording to a newly released congressional inquiry. Last weeks 136-page report from House Oversight and Government Reform Committee Chair-man Darrell Issa, R-CA, completed a three-year investigation by the committee of Countrywides Friends of Angelo program, which ran from January ...