New statement told you Mozilo “bought the borrowed funds acknowledged, and gave Johnson a break
The former Countrywide Financial Corp., whose subprime financing assisted initiate the country’s foreclosures drama, generated countless disregard financing to invest in dictate which have members of Congress, congressional group, best regulators authorities and professionals off stressed home loan large Fannie mae, according to a house statement.
The latest statement, gotten by Related Push, said the savings – out of – were not just aimed at putting on dictate toward team but to help home loan large Fannie mae. Countrywide’s organization relied mainly toward Fannie, which at that time was trying to fight more authorities regulation but at some point must fall under bodies manage.
Fannie mae try responsible for to order a big level of Countrywide’s subprime mortgage loans. Lees verder “New statement told you Mozilo “bought the borrowed funds acknowledged, and gave Johnson a break”