Published on July 11th, 2012 | by Scott Hennen

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Conrad not charged in Countrywide Financial sweetheart loan scandal

In exchange for political influence, mortgage lender Countrywide Financial issued hundreds of VIP loans to high-profile political leaders, including current Senate Budget Committee Chairman Kent Conrad, according to a recent report issued by the House of Representatives.

National real estate and mortgage expert Stuart Vener is outraged that the so-called “Friends of Angelo” (former CEO and founder of Countrywide) received preferential treatment for their political support of the once-dominant lender, whose special relationship with Fannie Mae may have facilitated the housing price meltdown of 2008.

Listen to the full interview:

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