July 20, 2009
Upholding the Family Name
Once again it develops that denial is not just a river in Egypt:
Chris Mozilo, nephew of Angelo R. Mozilo, the former chief executive of Countrywide Financial a name synonymous with the subprime disaster recently started a new business, eModifyMyLoan. It sells software that homeowners can use to apply for loan modifications.
Chris Mozilo worked at Countrywide for 16 years. Im very proud of my career in mortgage lending, he said. We helped millions of people achieve the goal of homeownership.
Posted by Jerome Doolittle at July 20, 2009 10:24 AM
I used to close loans and foreclose for them in the early 90's. They were one of the reasons, along with several of their competitors who made me think about what I was doing and finally I quit that job.
"eModifyMyLoan" sounds like a good idea. You hack yourself into the bank computer and change the figures. Not much different from what the banksters used to be doing.
This story reminds me of the old limerick:
There was an old whore from Peru
Who filled her vagina with glue.
Said she with a grin,
"They paid to get in,
And they'll pay to get out again too."