2008-06-13 — go.com
Those VIPs who received loans through the program that waived points, lender fees and company borrowing rules included Senators Chris Dodd and Kent Conrad, former HUD Secretary Alphonso Jackson, former HHS Secretary Donna Shalala and former UN ambassador Richard Holbrooke, according to Conde Nast Portfolio magazine.
Senator Dodd reportedly received two loans in 2003 through the program, borrowing $506,000 and $275,042 to refinance homes in Washington and East Haddam, Connecticut. Countrywide waived $2,000 on the first loan and $700 on the second, according to Portfolio.
Since 1997, Countrywide has contributed $21,000 to Dodd's campaigns. During his presidential campaign last year, Dodd introduced legislation to ban practices reportedly used by loan officers at Countrywide _ charging prepayment penalties and steering buyers to costly loans.
The picture of where Countrywide's privileged public status comes from is getting clearer:
When Conrad refinanced an eight-unit apartment building in Bismarck, North Dakota, which violated the company's policy of not providing loans for larger buildings, Mozilo told a staffer in an email to "make an exception due to the fact that the borrower is a senator," according to Portfolio.
They all claim to be unknowing, of course. Not so sure I believe that.
Maximonious at 00:11 2008-06-15 said:In much larger numbers than Republicans... It's their nature... Always vote Republican. Oh yeah... support the Fair Tax... at www.fairtax.org... PS- Buckethead rules... Permalink
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