Mozilo Asked to Testify on B&C Execs' Severance.

The House Oversight and Government Affairs Committee has invited Countrywide Financial Corp. chairman and CEO Angelo Mozilo to testify on Feb. 7 on the topic of severance packages for subprime executives. Mr. Mozilo, according to one executive compensation company, stands to earn $112 million in severance benefits if he leaves CFC which is slated for sale to Bank of America. CFC and BoA have not yet addressed Mr. Mozilo's future with the combined firm but he is expected to step down at some point over the next several months. The CFC chief is 69 years old. Also invited to testify at the Feb. 7 hearing is Stanley O'Neal, and Charles Prince, the former chiefs, respectively, of Merrill Lynch and Citigroup. Both were ousted after their firms reported large subprime-related losses.