Angelo R. Mozilo

DEFINITION of 'Angelo R. Mozilo'

The co-founder, former chairman and former CEO of mortgage lender Countrywide Financial Corp. Born in 1938 in New York City, Mozilo co-founded Countrywide with David Loeb in 1969. By 2004, he had made Countrywide the largest mortgage originator in the United States, with a 13.1% market share. In 2008, Mozilo's last year with the company before it was purchased by Bank of America, Forbes named Mozilo the fourth-highest-paid CEO in the United States.

BREAKING DOWN 'Angelo R. Mozilo'

The Securities and Exchange Commission charged Mozilo with securities fraud and insider trading in 2009. He was also accused of helping politicians to finance mortgages at terms more favorable than those available to the public.



RELATED TERMS
  1. Mortgage Originator

    An institution or individual that works with a borrower to complete ...
  2. Third-Party Mortgage Originator

    1. A person or company involved in the process of marketing mortgages ...
  3. Mortgage Banker

    A company, individual or institution that originates mortgages. ...
  4. Second Mortgage

    A type of subordinate mortgage made while an original mortgage ...
  5. Mortgage Rate

    The rate of interest charged on a mortgage. Mortgage rates are ...
  6. Mortgage Company

    A company engaged in the business of originating and/or funding ...
Related Articles
  1. Markets

    3 Large-Cap Stocks Still Far From Pre-Crisis Highs (AIG, C)

    Explore three financial institutions that played key roles in the financial crisis of 2008 and are still far away from their 2007 highs.
  2. Insights

    Bank of America Wins $1.27 Billion 'Hustle' Case (BAC)

    Monday a federal appeals court overturned a $1.27 billion penalty verdict in relation to mortgage fraud.
  3. Investing

    Daniel Loeb's Success Story: Net Worth, Education & Top Quotes

    Read about the education, training and business life of Daniel Loeb, the often-contentious founder of activist hedge fund Third Point, LLC.
  4. Personal Finance

    Shopping for a mortgage in 2016? Use this tool first.

    As home-buying technology has progressed, the process of finding the best mortgages rates for 2016 can all be done online.
  5. Personal Finance

    Shopping for a mortgage in 2016? Use this tool first.

    As home-buying technology has progressed, the process of finding the best mortgages rates for 2016 can all be done online.
  6. Personal Finance

    Behind the Scenes of Your Mortgage

    Four major players slice and dice your mortgage in the secondary market.
  7. Personal Finance

    Mortgage Broker vs. Direct Lenders: Which is Best?

    There are key differences between mortgage brokers and direct lenders. Here's how to choose which is best for you.
  8. Markets

    Third Point Partners: An Activist Investor Analysis

    Read about Third Point Partners and its activist investor campaigns. Learn about the company's investments in Dow Chemicals and Yum Brands.
  9. Insights

    Tips for Choosing the Best Online Mortgage Lender

    Finding the right online mortgage lender can be a tall task. Here's some help on how to avoid wasting your time.
  10. Personal Finance

    How Interest Rates Affect the Housing Market

    Understand how rate changes can affect home prices and learn how you can keep up.
RELATED FAQS
  1. Why is due diligence important before a company acquisition?

    Learn about due diligence and company officials' fiduciary duty. Explore the ill-fated acquisition of Countrywide Financial ... Read Answer >>
  2. If my mortgage lender goes bankrupt, do I still have to pay my mortgage?

    Yes, if your mortgage lender goes bankrupt you do still need to pay your mortgage obligation. Sorry to disappoint, but there ... Read Answer >>
  3. What is the process to take over a mortgage through a loan assumption?

    My landlord wants me to take over her mortgage.  ... Read Answer >>
  4. What’s the difference between a mortgage lender and a mortgage servicer?

    Buying a home is an exciting and confusing process. Once the loan is secured, it's important to know who gets the payment: ... Read Answer >>
  5. What are the pros and cons of a simple-interest mortgage?

    Learn the difference between a simple interest mortgage and a standard mortgage, along with their relative advantages and ... Read Answer >>
  6. What is an assumable mortgage?

    The purchase of a home is a very expensive undertaking and usually requires some form of financing to make the purchase possible. ... Read Answer >>
Hot Definitions
  1. Dove

    An economic policy advisor who promotes monetary policies that involve the maintenance of low interest rates, believing that ...
  2. Cyclical Stock

    An equity security whose price is affected by ups and downs in the overall economy. Cyclical stocks typically relate to companies ...
  3. Front Running

    The unethical practice of a broker trading an equity based on information from the analyst department before his or her clients ...
  4. After-Hours Trading - AHT

    Trading after regular trading hours on the major exchanges. The increasing popularity of electronic communication networks ...
  5. Omnibus Account

    An account between two futures merchants (brokers). It involves the transaction of individual accounts which are combined ...
  6. Weighted Average Life - WAL

    The average number of years for which each dollar of unpaid principal on a loan or mortgage remains outstanding. Once calculated, ...
Trading Center