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.