Key player in mortgage meltdown lists home for sale
Dec 27, 2011, 9:37 AM | Updated: Oct 10, 2024, 2:10 pm
Many real estate and mortgage analysts thought Angelo Mozilo would be the first major player to be indicted as a result of the country’s mortgage meltdown.
In fact, Conde Nast Portfolio once ranked him second on its list of “Worst American CEOs of All Time.”
However, it appears he will never be behind bars and now stands to make a significant gain on his primary residence – a two-story Georgian Colonial with five-bedrooms and six-bathrooms now on the market in Thousand Oaks, California, for $3.4 million.
The property, located on a fairway of an exclusive golf course, has 6,328 square feet, cherry hardwood flooring throughout, hand-painted ceilings, great views and a pool.
The founder, former chairman, and CEO of Countrywide Financial, until the company was acquired by Bank of America in 2008, Mozilo once was the most admired mortgage banker in the nation, but he soon became the sun-tanned pariah who lost control of a 50,000 employee company.
Earlier this year, Mozilo settled out of court a civil fraud complaint filed against him by the Security and Exchange Commission. According to published documents, criminal investigators said the burden of proof was too great to prove to a jury.
