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Loan Modification

GOP: Probe Countrywide’s Sweetheart Mortgages

Posted by Moe Bedard On August - 14 - 2008

House Republicans want the House Ethics Committee to investigate whether House members and aides received sweetheart deals on their home mortgages.

 

According to The Hill, Reps. Darrell Issa, R-Calif., and Mark Souder, R-Ind., told the Committee in a letter that the “serious and broad allegation that members of Congress, congressional staff, and other officials were given preferential treatment . . . needs to be investigated.”

 

At issue was Countrywide’s policy of giving cut-rate mortgages to VIPs including at least two members of Congress, Connecticut Democratic Sen. Chris Dodd and his Democratic colleague North Dakota Sen. Kent Conrad, both of whom were named in a series of detailed investigative stories in Portfolio magazine.

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