Real estate blog entries tagged with mortgage fraud by Eureka Realty Network (Eureka Group)

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Home : Blogs : Eureka Realty Network : Eureka Realty Network's Blog : Tag "mortgage fraud"

mortgage fraud: Darrel Issa reveals more information about the the Countrywide VIP loan controversy - 07/24/10 10:45 AM

New informations highlight the ties between Fannie Mae executives and Countrywide's VIP loan program. This program was created by the subprime lender's CEO at the time, Angelo Mozilo.
Rep. Darrell Issa, ranking member of the Oversight and Government Reform Committees showed documents that reveal information about this controversy: 27 former employees at the government-sponsored mortgage company "somehow managed" to receive 153 subsidized, low-cost loans through the specialty Countrywide VIP loan program. According to Issa, this program existed just to buy friends in critical government and industry positions, in order to protect the company's business interests.
"As our nation marched down the … (0 comments)

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