After accepting more than $86 Billion from the banking community, Attorney General Brown fails to prosecute Angelo Mozilo, the former Chairman and Chief Executive of Countrywide Financial Corporation or David Sambol, formerly the President of Countrywide Home Loans and the President and Chief Operating Officer of Countrywide Financial Corporation.
Attorney General Brown added, "My loan-modification program provides real relief for borrowers at risk of losing their homes. Tragically, California and the other states have had to step in because federal authorities shamelessly failed to even minimally regulate mortgage lending." To date, no money has been paid to modification companies servicing this need.
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