GOP Congressmen Named On ‘Friends Of Angelo’ List

Posted by Orb Staff on January 16, 2012 No Comments
Categories : Residential Mortgage

10716_bankruptcy GOP Congressmen Named On 'Friends Of Angelo' List Two Republican congressmen from California – Reps. Elton Gallegly and Howard McKeon – have acknowledged that their names are on a list of House of Representatives members who received special mortgages through a controversial program operated by Countrywide Financial.

The New York Times reports that McKeon and Gallegly were on a list that is being investigated by the House Ethics Committee and the House Committee on Oversight and Government Reform. The program, which was commonly known as ‘Friends of Angelo’ – named after former Countrywide CEO Angelo Mozilo – provided special lower rates to influential politicians.

Both Gallegly (a former real estate broker) and McKeon have denied that they received special treatment from Countrywide on their home loans, and both have stated that were unaware Countrywide listed them as being participants in its politically oriented program. A third congressman – Rep. Edolphus Towns, D-N.Y. – has previously acknowledged that he was being investigated and has also denied receiving special loan benefits from Countrywide.

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