Some of the discounts were systematic by one-time Countrywide arch senior manager Angelo Mozilo . The recipients were well known as "Friends of Angelo."
The Justice Department has not prosecuted any Countrywide official, but the House cabinet 's inform mentioned papers and be evidence of uncover that Mozilo and firm lobbyists "may have skirted the sovereign temptation government by gripping conversations about discounts and other forms of favoured treatment internal. Rather than creation quid pro quo arrangements with lawmakers and staff, Countrywide used the celebrity loan module to throw a far-reaching net of influence."
Mozilo was strike with $67.5 million in penalties to solve charges that he and other one-time Countrywide management team misled investors and other violations.
The inform mentioned that the who received the discounts knew the loans were rubbed by a special celebrity unit.