The VIP Treatment: Countrywide CEO Offers Better Rates for Prominent Few

Friends of Countrywide Financial CEO Angelo Mozilo and other high-profile individuals had their home loans handled by the company's VIP desk, where a team of loan officers would work out favorable terms in conjunction with Mozilo, according to two former Countrywide executives. "Celebrities get their loans from somewhere," said one former executive who likened the favorable loans to employee discounts. "That desk handled loans for people who were referred by executives. The way that it would...Full Story
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