Industry NewsMortgage

Political elite granted special mortgages

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Countrywide's friends in high places Daniel Golden of rounds up the list of government officials making the news for having received loans from Countrywide Financial on special terms: U.S. Sens. Chris Dodd, D-Conn., and Kent Conrad, D-N.D.; former UN Ambassador Richard Holbrooke; former Secretary of Health and Human Services Donna Shalala; former HUD Secretary Alphonso Jackson; and former Barack Obama advisor and ex-Fannie Mae CEO James Johnson. All but Jackson are Democrats. Two other prominent Democrats -- former California Treasurer Kathleen Brown and Bill Clinton's Secretary of Housing, Henry Cisneros -- have resigned their positions on Countrywide's board (see Inman Blog). Most sales in Sacramento are REOs About 66 percent of the homes sold by Realtors last month in California's capital city of Sacramento were foreclosed properties that had become bank-owned or REO properties, a Wall Street Journal blog reports. "Sacramento ma...