13 Facts About Angelo Mozilo


Angelo R Mozilo was born on 1938 and was the chairman of the board and chief executive officer of Countrywide Financial until July 1,2008.

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Angelo Mozilo received a Bachelor of Science degree from Fordham University in 1960.

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Since Countrywide was listed on the NYSE in 1984, Angelo Mozilo sold $406 million worth of its stock, mostly obtained through stock option grants.

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Angelo Mozilo was very concerned with the quality of credit borrowers and the quality of their loans.

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Angelo Mozilo privately described the subprime loan mavericks of the 1990s as "crooks".

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Angelo Mozilo had to compete with them or keep losing market share.

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Angelo Mozilo's compensation included payment for equity memberships and annual country club dues at Sherwood Country Club in Thousand Oaks, CA, The Quarry at La Quinta golf club in La Quinta, California and at the Robert Trent Jones Golf Club in Gainesville, Virginia.

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Angelo Mozilo testified before the United States House Committee on Oversight and Government Reform on March 7,2008, calling reports of their pay "grossly exaggerated" in some instances and pointing out that they lost millions as well.

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Angelo Mozilo defended the pay: The compensation was a function of how the company did ahead of the mortgage crisis.

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Over many years, Angelo Mozilo sold hundreds of millions of dollars in stock, even while publicly touting the stock and using shareholder funds to buy back stock to support the share price.

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On October 15,2010, Angelo Mozilo reached a settlement with the Securities and Exchange Commission over securities fraud and insider trading charges.

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Shortly after University of San Diego invited Angelo Mozilo to be the keynote speaker at a conference for "sustainable real estate", DisinviteAngelo Mozilo was created in protest on January 10,2008.

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In May 2008, Angelo Mozilo made the news by accidentally hitting "reply" instead of "forward" in response to an e-mail from a distressed homeowner named Daniel Bailey of North Carolina.

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