Countrywide waived three-eighths of a point, or about $2,000, on the townhouse loan, and one-fourth of a point, about $700, on the second, according to internal documents cited by Portfolio. Both loans were for 30 years, with the first five years at a fixed rate.
What are you talking about? This is nothing. When I got the loan for my house, I negotiated away ALL fees....I didn't pay anything except principal and interest. And I'm just a nobody.
Anyone who pays points is a weak negotiator.
Senate Banking Committee Chairman Christopher Dodd reportedly received two mortgages under a special Countrywide Financial Corp. program that gave preferential interest rates to "friends" of the company's chairman.
Amazing how quick supposed “Conservatives” are to leap to the defense of Leftist scumbags.
IF anyone else in Govt had done this they would be fired. Just because the clown is in the Senate does not exempt him from ethics rules. If not criminal, it sure as hell is unethical for someone in a regulatory position (i.e. chairman of the Senate Banking Comission) to accept any sort of special treatment from a business he directly is involved in regulating (Countrywide). This is just a clever form of bribery. Anyone who cannot see that is simply lying to themselves.