Monday, December 12, 2011

Countrywide's Angelo Mozilo Shakes Up Real Estate Portfolio (BAC; CFC)

From Real Estalker:
SELLER: Angelo Mozilo
LOCATION: Thousand Oaks, CA
PRICE: $3,400,000
SIZE: 6,238 square feet, 5 bedrooms, 5.5 bathrooms

YOUR MAMAS NOTES: Yesterday, while mindin' the necessary ps and qs for our discussion about the Thousand Oaks, CA mansion recently leased by phoenix-like pop phenom Britney Spears, we rather randomly ran across another, smaller mansion located behind the guarded gates of the well-heeled Sherwood County Club owned as per property records–and much to our pearl clutching flabbergast–by the vastly-loathed and utterly disgraced former Countrywide Financial CEO and COB Angelo Mozilo who has the architecturally conventional (mc)mansion listed on the open market with an asking price of $3,400,000.
Mister Mozilo, a mortgage industry maverick who co-founded Countrywide in 1969 and nearly 30 years later co-founded the dramatically collapsed IndyMac Bank (now OneWest Bank), is widely regarded as one of the more Machiavellian sub-mortgage-men who helped march the U.S. (and global) economy straight off the cliff in the mid-Noughts. While Mister Mozilo and his mortgage-making army pushed and pedaled sub-prime home loans he talked up the then-flourishing company's stock price, earned hundreds of millions in compensation, and cashed out more than $400,000,000 worth of Countrywide stock, a large portion of it during the last couple of years of his tattered tenure as the king of Countrywide...MORE, including pics