This just came in over the transom:
Dodd to Refinance Two Countrywide Loans
Associated Press
HARTFORD, Conn. — Connecticut Sen. Chris Dodd said he’ll refinance two mortgages that he received through a VIP program from Countrywide Financial Corp.
Sen. Dodd told reporters in his Hartford office Monday that the mortgages for his homes in Washington and East Haddam, Conn., will be refinanced with a different company.
The chairman of the Senate Banking Committee said a third party will be involved in choosing the new bank.
Sen. Dodd has acknowledged receiving mortgages in 2003 through a VIP program at Countrywide, which was sold to Bank of America Corp. earlier this year and has been the focus of allegations that it gave favorable loan terms to lawmakers.
Sen. Dodd said he’s moving the loans in part because he was wrongfully labeled a friend of Countrywide’s former CEO, Angelo Mozilo. Sen. Dodd said he never sought special treatment.
It’s fine that Dodd is trying to clean things up, but that’s not the problem. As I wrote last week, the major problem here is that it has been 192 days since Dodd promised to release the paperwork relating to the original mortgages, and he still hasn’t done it. Perhaps there will still be no clear way to tell how much of a “Friend of Angelo” Dodd was or was not, but the paperwork would go along way toward clearing that question up. So release the paperwork already, Senator.






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