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“One of Countrywide’s previously undisclosed customers at Fannie was Jamie Gorelick, an influential Democratic Party figure whose $960,000 mortgage refinancing in 2003 was handled through a program reserved for influential figures and friends of Countrywide’s chief executive at the time, Angelo Mozilo. Ms. Gorelick was Fannie Mae’s vice chairman at the time.
Another Countrywide client was recently ousted Fannie Mae Chief Executive Daniel Mudd, though it isn’t clear whether he received special treatment on two $3 million mortgage refinancings he made when he was the company’s chief operating officer.
In an interview, Ms. Gorelick said she had no knowledge of receiving special treatment. A financial adviser to Mr. Mudd said he received interest rates in line with the prevailing market.
The Fannie loans — including a series of already reported preferential loans to former Fannie chief executives James Johnson and Franklin Raines — underscore the close connections between Countrywide and Fannie Mae and raise potential conflict-of-interest issues.”
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““I do not believe there was any special treatment given,” said Ms. Gorelick. A former Countrywide employee, Robert Feinberg, said that Ms. Gorelick’s business was handled through the firm’s VIP lending department in California, and the staff there was aware of her position as a senior Fannie executive.
“I know 100% she went through the VIP department,” Mr Feinberg said, adding that VIP clients such as Ms. Gorelick typically received a one percentage point reduction in their interest rate.
Real estate records show that Ms. Gorelick received nearly the same interest rate that Countrywide provided to then-Fannie chief Franklin Raines, who received a similar loan about 40 days before Ms. Gorelick in the spring of 2003.
Mr. Raines received a rate of 5.125% for the first 10 years on a $982,253 refinancing, Washington, D.C., real-estate records show.
A little over a month later, Ms. Gorelick received a rate of 5% for the first 10 years on a $960,149 refinancing. The transaction was handled by another employee who sat next to him, Mr. Feinberg said.
The average market rate for loans of the type obtained by Ms. Gorelick and Mr. Raines fluctuated around 6% at that time, according to data from HSH Associates Inc., potentially saving the two borrowers thousands of dollars over the life of the loans.”
http://sweetness-light.com/archive/countrywide-gave-loans-to-gorelick-mudd
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Who are the best contacts at the SEC, FBI, etc., whoever, to urge that Gorelick MUST be included in their investigations? The depths of my loathing for her despicable acts of fraud and treason are infinite.
We should call them in mass and demand action. It probably won’t do a bit of good...too many Clintonanistas at both agencies....but we can try.
You know what’s discouraging to normal people is that we see this kind of thing over and over and if the wrongdoer is a dem, they are never punished.
Instead, we see these people elevated to ever more powerful and lucrative positions.