New subpoena seeks records on sweetheart loans

A House committee chairman renewed efforts Wednesday to obtain names of current and former federal, state and local policymakers — including congressional colleagues — who received sweetheart mortgage deals from the former Countrywide Financial Corp.

A House committee chairman renewed efforts Wednesday to obtain names of current and former federal, state and local policymakers — including congressional colleagues — who received sweetheart mortgage deals from the former Countrywide Financial Corp.

The subpoena by Rep. Darrell Issa of the Oversight and Government Reform Committee makes it more likely that the records could be made public.

A subpoena in 2009, when Democrats controlled the committee, specified that information on discounted loans to members of Congress and their spouses go only to the House Ethics Committee — with all names deleted. The ethics committee has never revealed the information it obtained.

Issa did not favor the restrictions but agreed to them as a compromise so that the committee's former chairman, Rep. Edolphus Towns, D-N.Y., would issue the subpoena.

"Countrywide orchestrated a deliberate and calculated effort to use relationships with people in high places in order to manipulate public policy and further their bottom line to the detriment of the American taxpayers even at the expense of its own lending standards," said Issa.

"This subpoena will allow us to obtain the information needed to answer the outstanding public interest questions regarding the full size and scope of the VIP program," he said. "The American people have a right to know the totality of who participated in the Countrywide's VIP program and what they did in return for access to it."

Countrywide had been the nation's largest home loan originator before the housing market collapse. Many of its borrowers were left unable to repay mortgages that, in many cases, required no proof of income or a down payment. The company was purchased in 2008 by Bank of America, which has the records and received the subpoena.

Government employees and influential private citizens received better deals than most of the company's borrowers. Those perceived as having the most influence were designated "Friends of Angelo" — those favored by Countrywide chief executive Angelo Mozilo.

The Securities and Exchange Commission last October settled a lawsuit against Mozilo. He agreed to pay a $22.5 million penalty to settle charges that he and two other former Countrywide executives misled investors as the subprime mortgage crisis emerged.

Among those who received discounted Countrywide mortgages were former Sen. Christopher Dodd, D-Conn., and Sen. Kent Conrad, D-N.D. Both senators have said they didn't know they were getting unique deals.

Issa's subpoena had a broad scope, asking for records of borrowers who were — or still are — federal officials, including members of Congress and their staffs, as well as state and local government officials and employees of mortgage giants Fannie Mae and Freddie Mac. Loans to spouses also must be turned over, the subpoena said.

However, Issa said he's mainly interested in loans to those who could influence policies — or people who Countrywide officials sought to influence.

In Other News

fake money

Keywords clouds text link 

Dịch vụ seo, Dịch vụ seo nhanh , Thiết kế website ,  máy sấy   thịt bò mỹ  thành lập doanh nghiệp
Visunhomegương trang trí  nội thất  cửa kính cường lực  Vinhomes Grand Park  lắp camera Song Phát thiết kế nhà thegioinhaxuong.net/

Our PBN System:  thiết kế nhà xưởng thiết kế nội thất thiết kế nhà tem chống giả

aviatorsgame.com ban nhạcconfirmationbiased.com 
radiantcitymovie.comeatatdistrict.com
chaletedelweiss.useve-razor.com
occastudios.commoscasenlasopa.net
skaratoken.comshowdx.com
thelettersmovie.comheritage-gifts.com
singstreetmovie.comdeadaccountsonbroadway.com
moscasenlasopa.netratchasima.net
eatatdistrict.comthe-movie-trailer.com 
theboroughraleigh.comradio-electronics.co
mariankihogo.com  ốp lưngGiường ngủ triệu gia  Ku bet ku casino

https://maysayhaitan.com/  https://dovevn.com/ buy fake money https://sgnexpress.vn/ máy sấy buồn sấy lạnh

mặt nạ  mặt nạ ngủ  Mặt nạ môi mặt nạ bùn mặt nạ kem mặt nạ bột mặt nạ tẩy tế bào chết  mặt nạ đất sét mặt nạ giấy mặt nạ dưỡng mặt nạ đắp mặt  mặt nạ trị mụn
mặt nạ tế bào gốc mặt nạ trị nám tem chống giả

https://galaxymedia.vn/  công ty tổ chức sự kiện tổ chức sự kiện
Ku bet ku casino
Sâm tươi hàn quốc trần thạch cao trần thạch cao đẹp

suất ăn công nghiệpcung cấp suất ăn công nghiệp

https://docs-cashshop.com/
https://galaxymedia.vn/dich-vu-to-chuc-su-kien-la-gi-quy-trinh-to-chuc-su-kien-nhu-the-nao-id3108.html

© 2020 US News. All Rights Reserved.