The Office of Mortgage Settlement Oversight released some interesting data on the first-lien and second-lien portfolios of the five services sanctioned in the foreclosure fraud settlement. Calculated Risk reproduces the data here. Despite the heavy investment in a narrative of the foreclosure crisis being over and the housing recovery underway, these loan portfolios show substantial [...]

Rep. Pete Sessions (R-TX) has become the third House Republican discovered to have received a sweetheart loan as part of Countrywide’s “VIP” program. The program became notorious when conservatives jumped on the revelations that Democrats Chris Dodd and Kent Conrad received cheap loans through it. But it was always clear that influence peddling is a [...]

Angelo Mozilo, the co-founder of Countrywide Financial, up on civil fraud and insider trading charges for bilking investors in the subprime lending company, has settled out of court with the SEC for $45 million in profit give-backs and $22.5 million in civil penalties. His two colleagues, the former President and the former CFO, will pay [...]