Dodd, Conrad 'Knew They Scored Mortgage Deals'

By Rob Quinn,  Newser Staff
Posted Jul 28, 2009 4:56 AM CDT
Dodd, Conrad 'Knew They Scored Mortgage Deals'
Angelo Mozilo, founder and former chief executive officer of Countrywide Financial Corporation, testifies before the House Oversight and Government Reform Committee .   (AP Photos/Susan Walsh )

(Newser) – Democratic Sens. Chris Dodd and Kent Conrad were fully aware they were getting sweetened mortgage deals, the Countrywide Financial exec who handled their loans has told congressional investigators. The testimony from the loan officer to the House Oversight and Senate Ethics committees directly contradicts the senators' assertions that they had no idea they were getting discounts under a VIP program, the AP reports.

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Dodd and Conrad, heads of the Senate Banking Committee and Senate Finance Committee, respectively, were told "who you know is basically how you’re coming in here," the loan officer testified.  Spokesmen for the senators accused the loan officer of lying and said that they hoped the Ethics Committee resolves the issue quickly. (Read more Chris Dodd stories.)

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