Issa To Mozilo: We Need To Talk!

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

10945_220px-congressman_darrell_issa Issa To Mozilo: We Need To Talk! Rep. Darrell Issa, R-Calif., chairman of the House Committee on Oversight and Government Reform, has asked former Countrywide Financial CEO Angelo Mozilo to participate in a transcribed interview regarding his company's relation with certain members of Congress.Â

TheHill.com reports that Issa sent a letter to Mozilo's lawyer asking for a further explanation of the ‘Friends of Angelo’ program that allegedly provided favorable mortgage loans to elected officials. Issa has been investigating Countrywide since 2008, when Bank of American Corp. acquired the embattled lender.

Last month, Issa's committee sent a list to the House Ethics Committee that identified three Republican House members who reportedly participated in this program; all three representatives have publicly denied receiving special treatment from Countrywide. Two Democratic members of the Senate – North Dakota's Kent Conrad and former Connecticut Senator Chris Dodd, the one-time chairman of the Senate Banking Committee – were previously identified as receiving discounted loans under the program, but the Senate Ethics Committee chose not to enact any penalties against them.

Mozilo's lawyer would not publicly comment on the new request by Issa.

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