“Friends Of Angelo VIP Program”

Senators Mortgages Senators Mortgages Senators Mortgages

Sen Dodd Sen Conrad Angelo Mozillo

Senator Dodd D-CT and Senator Conrad D-ND are being investigated for ethics violations in CLOSED SESSION by The House Oversight and Government Reform Committee and the Senate Ethics Committee. Apparently they DIDN’T KNOW they were VIP’S?

>>Both senators have said that at the time the mortgages were being written they didn’t know they were getting unique deals from Countrywide Financial Corp., the company that went on to lose billions of dollars on home loans to credit-strapped borrowers. Dodd still maintains he got no preferential treatment<<<

>>Dodd got two Countrywide mortgages in 2003, refinancing his home in Connecticut and another residence in Washington. Conrad’s two Countrywide mortgages in 2004 were for a beach house in Deleware and an eight-unit apartment building in Bismarck in his home state of North Dakota.<<

>>Robert Feinberg,who worked in the Countrywide’s VIP section, told congressional investigators last month that the two senators were made aware that “who you know is basically how you’re coming in here.”<<

>>”You don’t say ‘no’ to the VIP,” Feinberg told Republican investigators for the House Oversight and Government Reform Committee,according to a transcript obtained by The Associated Press.<<

Barbara Boxer who is Chairman of the Senate Ethics Committee doesn’t have to grill Robert Feinberg of Countrywide, to find FRAUD in the Senators loan applications. If she would just subpoena the actual Fannie Mae Form 1003 and the HUD1 Closing statements she would have all the proof she needs, but WHO says she wants to find Fraud?

Senator Dodd applied for BOTH loans as OWNER OCCUPIED. So on one application he checked Primary Residence instead of Investment Property. That’s Loan Fraud for you and me, but an oversight for a Senator! That little check mark saved him 1.5% in closing costs there for not being an investment property. Add in the WAIVEDorigination fees at 1% and it adds up to be a sweet deal! Senator Dodd SIGNED the loan application declaring that he lived in BOTH properties so how can he now claim HE didn’t know he was getting preferential treatment? I guess you can become Chairman of the Senate Banking Committee and not know what loan fraud constitutes?

Senator Conrad got quite a unique treatment which can only be truly identified as IMPOSSIBLE for the average borrower who is not a member of the U.S. Senate. Countrywide financed an 8 Unit Apartment Bldg for Conrad, the Chairman of the Senate Budget Committee. As a Mortgage Broker I could not do a loan above 4 units with Countrywide. Countrywide was a residential mortgage lender and was restricted to finance only up to 4 residential units. So Countrywide funded a loan for the Senator that were not allowed to fund and would have refused to do for anyone else! I would love to see the HUD1 closing statement for that loan just to see how much of the fees Countrywide paid for the Senator.

>>Conrad initially said in June 2008, “If they did me a favor, they did it without my knowledge and without my requesting it.”<<

>>The next day, Conrad changed course after reviewing documents showing he got special treatment, and said he was donating $10,500 to charity and refinancing the loan on the apartment building with another lender. He also said then it appeared Countrywide had waived 1 point at closing on the beach house.<<

So let’s sum this up simply as if you are a Senator and a FRIEND of Angelo Mozillo, ex CEO of Countrywide you get your loans for FREE! And if you get caught Play Dumb!

information source: http://www.breitbart.com/article.php?id=D99N143G3&show_article=1#idc-ctools