[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Sign-in]  [Mail]  [Setup]  [Help] 

Status: Not Logged In; Sign In

A 1,600-year-old church in the Holy Land has been torched. But not by ISIS.

More civilians have been killed while seeking aid in Gaza than were killed on 7 October.

MORE TRANS VIOLENCE

WAYNE ROOT: Here’s How Trump Turns the Epstein List Fiasco into Home Run

Maxwell Says Epstein Client List Implicates Top Democrats

Medical Record Review Of the Twins Who Died After Vaccination

New federal secrets exposed as Republican unravels Lee Harvey Oswald's hidden ties to CIA

Protest outside migrant hotel in Essex erupts into violence

Congressman Faces Eviction Over $85k Back-Rent For Luxury DC Penthouse

This Is Not Normal! We Just Had Four “1-In-1,000-Year Storms” In A Single Week!

Dr. Fauci referred to top prosecutor for criminal charges after bombshell Biden autopen pardon revelation

Panama hit by 6.2 magnitude earthquake

Why Labour REALLY Supports Genocide

Police Name Brigitte Macron as 'Suspect' in Murder of Doctor Who Exposed Transgender Past

The Treasury General Account Refill will Force the Fed to Cut Rates and Restart QE

Silver surges above $39 for the first time since the first US downgrade in Aug 2011.

Breaking Ukraine’s Backbone: Russia’s Offensive Severing Strategic Supply Routes

Tucker Carlson: Hunting with Dogs is Transcendent

Earthquake Swarms Increasing ! Islands Pulled 4 INCHES APART -Unprecedented

Project Veritas: Text Messages Show Secret Service Agent Disclosing Operational Details to Stranger,

Chinese Drug Cartels Taking Oer Maine Due to lax Immigration Rules

Bitcoin Bitcoin hits new high above $120,000 as U.S. lawmakers begin ‘Crypto Week’

How I Reversed an "Irreversible" Condition With Stem Cell Therapy

Trump's Missile Deal $$$$

Christmas Bells - A Christmas Carol's Civil War Origin

"Use Him, Pick His Pockets"

Ghislaine Maxwell is willing to give over the Epstein Client List in exchange for a plea deal per—Daily Mail

5 American Cities Set to Collapse By 2026 (Tucker- Immigration turned California into a Latino Slum)

AI Just Decoded the Dead Sea Scrolls… And It’s Worse Than We Thought

The Good Guys (Israel and US)


Pious Perverts
See other Pious Perverts Articles

Title: Details of Countrywide 'VIP Program' Could Be Revealed
Source: [None]
URL Source: http://CNBC
Published: Jun 24, 2009
Author: Not attributed
Post Date: 2009-06-25 11:31:58 by Prefrontal Vortex
Keywords: None
Views: 159
Comments: 1

Details of Countrywide 'VIP Program' Could Be Revealed

Bank of America is ready to disclose details of Countrywide's former VIP program of preferential mortgages if a law enforcement body, Congress or other government bodies, issues a subpoena, documents obtained by CNBC show.

At the beginning of June, Republican Congressman Darrell Issa, a member of the Committee on Oversight and Government Reform, sent a letter to Bank of America [BAC 12.08 -0.27 (-2.19%) ], which bought Countrywide last year, asking it to produce documents related to the VIP program for the period between January 1, 2000 to October 1, 2008.

At the direction of Countrywide founder and then-CEO Angelo Mozilo, the VIP program, or "Friends of Angelo" program, used discounts such as waived fees and interest rate reductions to establish relationships with politically influential borrowers, according to the letter.

"In many cases, Countrywide facilitated and expedited the loan process for VIPs by ignoring company lending standards," Issa's letter said.

"According to documents obtained by the Committee, when evaluating whether or not to offer preferential treatment to a potentially influential borrower, Countrywide officers openly weighed the value of developing a strategic relationship with that borrower against the cost in dollars that would be forfeited by the company to establish that relationship," the letter added.

Neither Issa, nor the Committee on Oversight and Government Reform were available to comment immediately.

Bank of America "promptly discontinued this program upon its acquisition of Countrywide in 2008," the bank said in its response to Issa, but refused to disclose details of it.

"Unfortunately, pursuant to the Bank's practice regarding such requests, and based upon the applicable law, the Bank is unable to provide the requested information at this time," the letter, signed by Steven Ross, Counsel, Bank of America Corporation, said.

Steven Ross was unavailable to comment immediately on the letter.

"The Bank's practice has been to provide confidential customer information only pursuant to subpoena, whether that request comes from law enforcement, Congress or other governmental bodies," it said.

Bank of America "routinely cooperates" with law enforcement and investigating committees, providing them with information related to customers pursuant to subpoena, the letter added.

Post Comment   Private Reply   Ignore Thread  


TopPage UpFull ThreadPage DownBottom/Latest

#1. To: Prefrontal Vortex (#0)

I'll be surprised if it is released without heavy editing after first having been reviewed by the very people issuing the subpoena who will get to see it first.

HAPPY2BME-4UM  posted on  2009-06-25   12:24:26 ET  Reply   Trace   Private Reply  


TopPage UpFull ThreadPage DownBottom/Latest


[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Sign-in]  [Mail]  [Setup]  [Help]