2008-10-30 — msn.com
NBC News has learned that Robert Feinberg - a former Countrywide loan officer who handled what were known as the "VIP" mortgages - spent six hours last Thursday with a six-person team from the Justice Department. The team included prosecutors from the Public Integrity section, which handles investigations of possible public corruption.
...
In one instance of a "Friends of Angelo" deal, Mozilo sent an e-mail to Feinberg ordering him to "Take off one point" on a loan to Sen. Conrad. That one point equaled a savings of $10,700 in fees.
Hey Angelo... pretty "disgusting".
Explain this one, Lori.
All have denied impropriety and declined to elaborate to NBC News. Some say they had no idea they were getting favorable rates or any sort of discount.
But Feinberg insists part of his job was to make clear to VIP's they were receiving special treatment.
"There were many, many taglines we used to let them know their level of importance to make sure that they understand where they're located," said Feinberg. "And nine times out of ten, once you mention 'VIP' the person's gonna ask you 'what am i getting for being in this VIP department?' Or 'what am I getting because I know Angelo?' Or 'I talked to Angelo and he said I'm getting this.'"
Looks like the presence of Robert Feinberg has made quick work of the lame defense that nobody "knew" they were getting VIP treatment, or that it was just innocent pricing based on intrinsic risk.
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Comments:
govieloanpro at 03:36 2008-10-31 said:
This is stupid, there is NOT ONE LO who has not shown special service in the way of rates, fees etc to friends and or family. Permalinksgplax at 06:17 2008-10-31 said:
No, it's not stupid IF you're an elected official. For them, its' actually illegal under Congressional rules.[/b] Permalinkgovieloanpro at 07:18 2008-10-31 said:
where do you get this info? So many people post made up stuff it is amazing. Perhaps you know what you are talking about, please show me. Again all I am saying is that if a friend or a family member comes to you and asks for a service or product (regardless of your profession) what would you do? Offer them the same you would the general public? I doubt it? Permalinksgplax at 08:42 2008-10-31 said:
I used to underwrite some of those VIP loans. Friends and family are different from government officials who regulate you, and must be treated differently. If the two are the same, different rules still apply. Permalinkadd a comment | go to forum thread
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