Angelo Mozilo, chairman and chief executive officer of Countrywide Financial Corp., was the ninth-highest paid CEO among the 500 largest American public companies last year, according to a list compiled by Forbes.com.Forbes calculated Mr. Mozilo's 2004 compensation at $96.9 million and said he owned $40.5 million of company shares. Other mortgage-related CEOs among the top 100 in 2004 included Richard Kovacevich of Wells Fargo, who was 12th with $53.1 million in compensation; Robert Toll of Toll Brothers, 13th with $50.2 million; Jerry Grundhofer of US Bancorp, 21st at $38.6 million; William Foley of Fidelity National Financial, 32nd at $33.9 million; Edward Linde of Boston Properties, 48th at $24.2 million; Robert Wilmers of M&T Bank, 80th at $16.4 million; Kerry Killinger of Washington Mutual, 83rd at $15.7 million; and Ara Hovnanian of Hovnanian Enterprises, 99th at $13.4 million.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
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Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
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Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
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Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
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Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
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Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
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