Countrywide’s Mozilo Apparently Off The Hook For All Those Subprime Home Loans

One of a lot of notorious individuals at the center of the real estate crisis is apparently off the hook for any expected impropriety, as Bloomberg is reporting that the Department of Justice is abandoning its effort to sue Angelo Mozilo, the founder of Countrywide, for his companys lending practices in the run-up to the real estate crisis.

Countrywide originated more home mortgages in this nation from 2004 to 2007 than other lender. During that time, Countrywide closed so many subprime mortgages it stayed a top-5 producer for that housemortgage product. The exact same opts for other loans, such as Alt-A.