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Loan Modification

: Mortgage Lender Implode-o-Meter

Suit Says Countrywide CEO Allowed Lax Loans

By Implode-Explode Heavy Industries

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"The SEC's statements came in federal-court filings filed last week in its pending civil fraud case against Mr. Mozilo and two other former top Countrywide officials. It appears to be the first time in the year-old case that the SEC has addressed Mr. Mozilo's role in the controversial VIP lending program, where borrowers sometimes received better loan terms and service than were generally available. Some of the borrowers included public officials."

Full post as published by Mortgage Lender Implode-o-Meter on August 24, 2010 (boomark / email).

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