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Kurland, who was Angelo Mozilo’s No. 2 man at Countrywide, left in September 2006 — a year before the company began to crumble under the weight of rising loan losses. He founded Private National Mortgage Acceptance Co. early in 2008 with a team of other ex-Countrywide execs specifically to begin buying up troubled home loans.
Understandably, the move triggered attacks from consumer advocates who have likened Kurland to an arsonist who burns down someone’s house and buys up what’s left to resell.
